On 27 July 2023, the Integrity Council for the Voluntary Carbon Market (ICVCM) released its full “Core Carbon Principles Assessment Framework” for high-integrity carbon credits to maximise the ability of the voluntary carbon market in supporting delivery of global climate targets.
The Assessment Framework sets out the detailed criteria it will use to assess whether carbon-crediting programs and categories of carbon credits meet the Core Carbon Principles (CCPs). Working groups of internal and external experts will be set up to review and assess categories of carbon credits. If programs and categories meet the criteria, they are assessed as CCP-eligible and given the CCP label.
Dr Ma Jun, Board Member of ICVCM and Chairman of HKGFA said, “The ICVCM has released its CCP Assessment Framework, setting a global benchmark for high-integrity carbon credits. This framework will be used to label CCP-eligible carbon credit programs and CCP-aligned categories, thereby enhancing the transparency of the voluntary carbon markets and investor confidence. Asia should actively look into adoption of CCP and its assessment framework in order to develop a liquid and impactful VCM market in the region.”
Carbon-crediting programs can now apply to the Integrity Council for assessment against the CCPs. The ICVCM Board will make the final decisions on programs and categories. It expects to begin announcing CCP-Eligible programs and CCP-Approved categories later this year, enabling CCP-labelled credits to appear in the market before the end of 2023.
Read the full Assessment Framework here: https://icvcm.org/wp-content/uploads/2023/07/CCP-Book-R2-FINAL-26Jul23.pdf
About ICVCM’s announcement: