Gold Standard VER host country or state Sample Clauses

Gold Standard VER host country or state. Gold Standard VER project activities may be located in any host country or state. However, where host countries or states have caps on GHG emissions, projects shall only be eligible if the Project Proponent has provided the Gold Standard Foundation with satisfactory assurances that an equivalent amount of allowances will be retired to back-up the GS VERs issued. Any AAUs may be retired for this purpose. Gold Standard credits will not be issued prior to confirmation by the relevant local authorities that an equivalent amount of allowances has been retired (see section T.1.2.b for references).
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Gold Standard VER host country or state post-registration institution of caps on GHG emissions. Projects that have been registered in a given host country or state prior to that country or state’s adoption or implementation of a cap on relevant greenhouse gas emissions shall be required to retire allowances or other- denominated units reflecting emission reductions to back-up issued VERs from the date any new cap is enforced. III.c. Eligible project activity gases

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