Does the Gold Standard label hold its promise in delivering higher Sustainable Development benefits? A multi-criteria comparison of CDM projects

► This study evaluates and compares the potential contribution of unlabeled- and Gold Standard labeled CDM projects to Sustainable Development (SD), extending the previously assessed projects as well as the methodological approach. ► Gold Standard labeled Certified Emission Reductions (CER) can be associated with higher potential SD benefits compared to unlabeled projects. ► A decomposition analysis shows that the Gold Standard s SD surplus must be primarily attributed to the favorable contribution of renewable energy projects to SD. ► Policy makers might thus shift incentives towards renewable energy projects and buyers of CERs may shift their offset portfolios towards such project types that are associated with higher SD benefits.