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CDM Gold Standard |
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CDM Gold Standard is a method to fund projects that are directed towards reduction of carbon emission in the atmosphere. Mainly energy efficiency and renewable energy projects which ensure a continuous rate of development are eligible for this.
The CDM Gold Standard method is supported and backed a group of non government organizations. It was created by a Standards Advisory Board, an independent body comprised of several NGO’s that are supported by government officials, scientists and project developers. The setting up of the standard involved a workshop that lasted for 1 year and several consultation processes.
Only community based non-profit organizations and NGO’s can become an endorser of the gold standard. These bodies should have an interest towards issues related to climatic changes and energy.
The method of working of the CDM Gold Standard is simple. The CDM project document is designed keeping in mind the Gold Standard methodology. The standards incorporated within the CDM project document are validated and the document then undergoes the process of registration and verification like any other CDM project. The project is also required to be registered in the Gold Standard project registry.
It was in 2003 when the CDM Gold Standard was introduced by the World Wide Fund (WWF), Helio International and South South North (SSN). The Gold Standard is a non-profit organization registered under the Swiss Law. Its headquarters are in Basel, Switzerland. The association receives fund from both public and private donors.
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