Summit Carbon Solutions has released its Gold Standard methodology for public stakeholder consultation, marking a significant milestone in the development of the world’s largest carbon removal project. The methodology was developed with the support of Anew Climate under the Gold Standard for the Global Goals’ requirements and ensures environmental integrity, safeguards, stakeholder engagement, and sustainable development. GS4GG is one of the leading global registries for verifying and generating carbon dioxide removal credits to ensure project quality and sustainable development. Public comments will be open for 30 days starting from May 11, 2023, to ensure transparency, accuracy, and broad applicability to the voluntary carbon market (VCM). With scientists predicting that up to 10 Gt of CO2 will need to be removed annually from the atmosphere by 2050, the Science Based Targets Initiative requires companies to use only carbon credits representing carbon sequestration or ‘carbon removals’ to neutralize remaining emissions once a company has achieved their Net Zero target. Summit Carbon Solutions’ application of the GS4GG methodology helps provide investors with certainty that the projects they support will deliver real climate and sustainable development benefits.
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It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...
