A transition review refers to the process of evaluating and assessing the necessary steps and compliance requirements for projects that wish to transition from one set of standards or guidelines to another. It specifically relates to projects that are seeking to transition from the Gold Standard for the Global Goals (GS4GG) to issuing Gold Standard Verified Emission Reductions (VERs) while already being registered under the Clean Development Mechanism (CDM) and labeled with Certified Emission Reductions (CERs).
During the transition review, project developers and relevant authorities assess the project’s readiness to shift from one standard (CDM with CER labeling) to another (GS4GG with VERs issuance). The review may involve examining the project’s monitoring, reporting, and verification processes to ensure they meet the requirements of the new standard (GS4GG). It may also involve evaluating the project’s emission reductions, sustainability goals, and adherence to safeguarding principles.
The transition review process aims to ensure a smooth and compliant transition for projects while maintaining the integrity and credibility of the new standard (GS4GG) for issuing Gold Standard VERs.
- All Gold Standard projects registered or seeking registration with previous versions must transition to GS4GG within a specified timeframe and meet the requirements stated in the Transition Requirements document.
- Transition to GS4GG is mandatory for all Gold Standard Registered or Issued projects, starting from March 1, 2018, at the next verification/Performance Certification or renewal of crediting period, whichever comes earlier.
- Projects with fixed 10-year crediting periods must transition if they have more than 24 months left in the crediting period when GS4GG is launched. Projects with a 7-year renewable crediting cycle and less than 24 months remaining must transition at the next renewal of the crediting period.
- Existing A/R projects should transition at the next available Verification/Performance Certification.
- Projects under listing or validation at GS4GG’s launch can request registration/design review with the previous version before November 23, 2021, and must comply with the requirements mentioned in paragraph 3.1.12 below. These projects should transition to GS4GG at the time of their first verification after November 23, 2021.
TYPES OF TRANSITION REVIEW