Gold Standard Announces Proposals to Allow Creation of Digital Tokens for Carbon Credits

Gold Standard CEO, Margaret Kim, said, “At Gold Standard we recognize that blockchain could bring innovation, transparency, and greater finance to the carbon market. At the same time, it is important that we recognize and mitigate any potential risks. The responses to this consultation will allow us to establish a formal framework to permit and manage the creation of digital tokens representing Gold Standard credits on blockchain.”

In preparing this consultation, Gold Standard has considered the initial findings of IETA’s Task Group on Digital Climate Markets as well as feedback from members of its Working Group on Digital Assets for Climate Impact, announced in August 2022. This Working Group is part of a broader piece of work being undertaken by Gold Standard and partners to support the digitization of the carbon market, recognizing that effective and inclusive digital solutions are essential to achieve the high-functioning, catalytic and inclusive carbon market needed to address the climate emergency.

The consultation document contains further information about the context, content, and timescale of this work. The consultation will run until 28 October.