Three out of the ten projects under the package are currently seeking Gold Standard status. The Gold Standard is a quality label for Clean Development Mechanism (CDM), Joint Implementation (JI) and voluntary offset projects using renewable energy and energy efficiency technologies. The Gold Standard for CDM projects was launched in 2003 and is endorsed by over 60 non-governmental organisations worldwide.

Essent Trading and Kommunalkredit Public Consulting signed an Emission Reduction Purchase Agreement for the sale and purchase of over 800,000 CERs from this renewable energy project bundle in March this year. Kommunalkredit Public Consulting was appointed in 2003 by the Austrian Ministry of Agriculture and Forestry, Environment & Water Management to manage the Austrian JI/CDM Programme. There is a total purchasing volume of 45 million tons of emission reductions under this programme.

"We are happy to be able to purchase a large renewable energy project bundle from Essent Trading," Alexandra Amerstorfer, Executive Director of the Austrian JI/CDM Programme said. "It is a well diversified portfolio in terms of renewable energy technologies and host countries. Furthermore, we appreciate that the portfolio partly consists of Gold Standard projects."

"We are excited about our collaboration with Kommunalkredit and the Austrian government" Nyame de Groot, Vice President of Emissions at Essent Trading commented. "Since 2005 we have focused on developing a renewable energy CERs portfolio to serve our own compliance needs and those of our clients. We are also delighted to have found a partner that shares our views on supporting Gold Standard projects."