Core Carbon Principles


The Integrity Council for the Voluntary Carbon Market (ICVCM) has released its long-awaited Core Carbon Principles (CCPs) that are intended to define the criteria for high integrity carbon credits. The 10 CCPs were released today at the European Climate Summit in Lisbon following broad and controversial consultation on draft principles in 2022. They are intended to build additional trust in the voluntary carbon market, unlock investment at scale, and deliver real climate impact at the speed and scale necessary to transition to a 1.5ºC pathway. They apply to carbon crediting programs/standards (CC Program), GHG emission reductions/removals (ERRs) and categories of projects (Methodology Type). This bulletin briefly summarizes the 10 CCPs CCP Sub-ordinate Requirements Applicable Entity Details A. Governance 1. Effective Governance CC Program Note: Programs that have already met the CORSIA requirements will not be required to demonstrate compliance with the detailed Governance CCPs Program governance must ensure transparency, accountability, continuous improvement and credit quality. 2. Tracking CC Program Must have a registry to uniquely identify, record, track credits securely and unambiguously. 3. Transparency CC Program Transparent information, publicly available in electronic format, to enable scrutiny by all audiences. 4. Robust 3rd Party Validation/Verification CC Program Must have/require independent 3rd party validation and verification. B. Emissions Impact 5. Additionality ERRs and Methodology Type ERRs would not have occurred in the absence of the incentive from carbon credit revenue. 6. Permanence ERRs and Methodology Type Permanent or measures in place to address risk of reversal and compensation for same (buffer). 7. Robust Quantification of Emission Reductions/Removals CC Program Thorough process for assessing and approving methodologies with public stakeholder and expert involvement. Robust and conservative quantification based on complete and scientific methods. 8. No Double Counting  ERRs No double issuance, double claiming, double use. Starts to address assessment of host country authorization under Article 6 with…