Core Carbon Principles

The Integrity Council for the Voluntary Carbon Market (ICVCM) has announced the first set of carbon-crediting methodologies that meet its Core Carbon Principles (CCPs). This approval allows the CCP label to be used on around 27 million carbon credits from projects that capture methane from landfills and destroy ozone-depleting substances from old equipment. An additional 27 categories of carbon credits, representing over 50% of the market, are still under assessment.

ICVCM Core Carbon Principles

A Major Milestone in Emission Reduction Efforts and Greenwashing

The ICVCM's "two-tick" process requires both the carbon-crediting program and the project's methodologies to be CCP-approved for the credits to receive the CCP label. This approval will soon be visible in program registries and may be bundled for sale in marketplaces. The CCPs are designed to enhance trust in the voluntary carbon market, ensuring that each credit represents a tonne of emissions reduced or removed. They also incorporate social and environmental safeguards, ensuring sustainable development impacts.

The ICVCM's efforts are complemented by the Voluntary Carbon Markets Integrity Initiative (VCMI), which focuses on the credible use of carbon credits in corporate net-zero claims. Both organizations' work is recognized by climate leaders and the U.S. Government, urging policymakers to adopt common standards based on ICVCM's and VCMI's frameworks.

Further Convergence in Carbon Credits Methodologies

The approved CCP methodologies aim to ensure high integrity in carbon credits, providing a trustworthy benchmark. This move is seen as crucial for scaling up private sector finance for high-quality emission reduction projects. The announcement aligns with recent U.S. Government principles on high-integrity carbon credits, emphasizing the importance of these standards.Whatever it is, the way you tell your story online can make all the difference.