Tricorona announced today that the Tongliao, Qingmachang and Yangjiayao II wind power projects in China have been awarded Gold Standard CDM status by the Gold Standard Foundation. This secures Tricorona’s position as a world-leading producer of climate credits of Gold Standard CDM quality, the highest quality of carbon offsets on the market. Yangjiayao II is also the first CDM project to be registered under the updated quality criteria of Gold Standard, version 2.
“The requirements for a carbon offset project to obtain Gold Standard CDM status are very tough,” says Per Egstam, President of Tricorona Climate Partner, “and we are very proud that Gold Standard has once again confirmed that Tricorona is one of the few developers that can satisfy these requirements.”
Gold Standard is a certification for carbon offset projects developed by over sixty NGOs, including WWF International and Greenpeace International, with extra strict requirements on corporate social responsibility in order for the projects to be approved. Furthermore, only renewable energy and energy efficiency projects are allowed to be certified according to Gold Standard’s criteria.
Gold Standard version 2 is a recently updated version of the quality label where the requirements on environmental benefit, corporate social responsibility and positive local economic impact have been clarified and further strengthened. The sustainability analyses for the projects have also been clarified and improved. Tricorona has with Yangjiayao II fulfilled all of these requirements and it is therefore the first CDM project to get registered according to Gold Standard version 2.
These projects strengthen Tricorona’s position as the leading supplier of Gold Standard-certified carbon offsets on the global market. Tricorona’s current Gold Standard projects reduce carbon emissions by hundreds of thousands of tonnes annually, and the company continues to develop projects to meet Gold Standard’s requirements. The planned projects are wind farms, biomass power plants, biogas plants and small-scale water treatment plants to avoid deforestation, which together will reduce carbon emissions by millions of tonnes annually.
All of Tricorona’s Gold Standard projects are also UN-registered as CDM (Clean Development Mechanism) projects, a mechanism for sustainable development included in the Kyoto Protocol, which is administered and reviewed by the United Nations Framework Convention on Climate Change (UNFCCC).
“The demand for carbon credits from Gold Standard projects has increased markedly in recent years, and these three new projects will enable us to continue delivering what the customers are demanding: the highest quality of carbon offsets that can be found,” says Per Egstam.
Image link (Qingmachang project)
Image link Per Egstam
For further information please contact:
Per Egstam, CEO, Tricorona Climate Partner, telephone +46 (0)8 506 88 559 +46 (0)8 506 88 559
Tricorona’s mission is to invest in and trade environmentally related market instruments. Most of the investment and trade is done in project-related emission credits, or “CERs” (Certified Emissions Reductions), within the framework of the Kyoto Accords. Over the past year, business has increasingly come to focus on these instruments, and we now operate mainly in the areas of:
Emissions Trading (CAM, CAS, CCM)
Carbon Offsetting (TCP)