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ICVCM approves new methodologies that meet Core Carbon Principles

Read more in the June 7 edition of Invert Insights.

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The Integrity Council for the Voluntary Carbon Market has announced the approval of the first carbon-crediting methodologies that meet its high-integrity Core Carbon Principles (CCPs).

The projects under the approved methodologies tackling potent greenhouse gasses by capturing methane from landfill sites and by destroying ozone-depleting foams and refrigerant gasses from discarded equipment such as refrigerators and air conditioners can now use the high-integrity CCP label; a change impacting an estimated 27 million carbon credits issued. 

Annette Nazareth, Integrity Council Chair, said: “The Core Carbon Principles set a high bar for integrity and the CCP label is designed to help buyers identify carbon credits that meet our rigorous standards. We are delighted that the first credits can now be tagged with the CCP label – they are issued by projects that capture potent greenhouse gasses which are essential to delivering an “emergency brake” on warming in the near term.”

The approved methodologies cover about 1.5% of currently issued carbon credits; another 27 categories of carbon credits, representing over 50% of the market, remain under active assessment. The ICVCM board is expected to announce further approvals of methodologies which potentially impact IFM, sustainable agriculture, renewable energy, REDD+, J-REDD and Biochar projects in the coming months.

The Integrity Council Chair also indicated “This is just the beginning. We will be announcing further categories eligible for Core Carbon Principles-labels that meet our criteria as we continue our careful and thorough evaluation of the submitted crediting methodologies and properly consider complex issues with our expert stakeholders.”

Under the Integrity Council’s “two-tick” process, carbon credits can only be tagged with the CCP label if the carbon-crediting program is approved as “CCP-Eligible” and the projects that generate the credits use methodologies that are also “CCP-Approved”. ACR, Climate Action Reserve (CAR), Gold Standard and Verra (VCS) are all CCP-Eligible and will now be able to apply the CCP label only to carbon credits generated by projects that are issued under an Integrity Council approved methodology.

Invert Insights.

💡The Core Carbon Principles (CCPs) act as a benchmark for high-integrity carbon credits and help to derisk the investment for many organizations, two things which go far to address some of the barriers and concerns with participating in the voluntary carbon market as indicated in research from earlier this year.

💡As standards and regulations around carbon credits continue evolve, having a trustworthy and credible partner ensures that your investment meet requirements and high integrity standards.