Upgrading GS VERs to GS CERs/ERUs during a crediting period. A Project Proponent may seek to upgrade a Gold Standard VER project activity to a Gold Standard CDM/JI project activity at any time during the crediting period with respect to future emission reductions, provided the Project Proponent either applies under the Gold Standard CDM/JI stream before any GS VERs have been issued, or enters into an agreement with the Gold Standard Foundation according to which the project applicant commits to surrender to the Gold Standard Foundation, for immediate retirement, CERs or ERUs that will be issued in respect of GHG Reductions generated by the Project in an amount equal to VERs already issued. The agreement shall make use of the ‘Gold Standard CDM Emission Reduction Acquisition Agreement’ template or the ‘Gold Standard JI Emission Reduction Acquisition Agreement’ template provided as Annex O and Annex P in the Gold Standard Toolkit.
