Page 20 - Economy_Fair Trade International Trade

20

Chapter 4 Gold Standard

4.1 Gold Standard

The Gold Standard was established in 2003 by WWF and other international NGOs with the aim to ensure
projects’ emissions reduction and long-term sustainable development. It has been created as a bets
practice benchmark for energy projects developed under the UN’s Clean Development Mechanism (CDM).
Supported by more than 80 NGOs, with more than 1,100 projects in 70 countries undergoing certification.
Among the main objectives of the Gold Standard, it is relevant to mention the following:

- Improvements in health and livelihood.
- Eradicate deforestation.
- Contribution to food and water security.
- Conservation of natural resources.
- Enhance Sustainable development. Source: (Gold Standard, 2020)

The Gold Standard 3.0, that integrates Energy, Forests, Land usage, Waste and Water, with a certification
process will proceed with the assessment of the impact of project activities toward the post-2015
Sustainable Development Goals. The Gold Standard, the global benchmark for the highest integrity and
impact in sustainable and climate related initiatives (UN environment, 2019).

4.2 Environmental markets for sustainable development

The Gold Standard through markets power tries to deliver progress toward the Paris Agreement and the
Sustainable Development Goals towards high-impact assets that represent environmental integrity and the
contributions to sustainable development (Gold Standard, 2020).

Voluntary + Compliance Carbon Markets
The existence of the urgency of decarbonize the global economy the carbon market has been created that
can accelerate the transition to net-zero emissions by enabling businesses and individuals to take
accountability for their emissions.

By purchasing Gold Standard carbon credits is a core component of climate action and can help for:

- Deliver on Best Practice Climate Action.
- Recognition by civil society.
- Impact for SDGs.