The Integrity Council for the Voluntary Carbon Market (ICVCM) has greenlit seven carbon crediting methodologies, amounting to 27 million carbon credits. This decision marks a significant step in ensuring the quality and integrity of carbon credits.
African woman preparing a meal using clean cookstoves. AI generated picture.
The ICVCM’s Core Carbon Principles (CCP) label now serves as a quality benchmark for these credits, providing assurance to buyers. The approved methodologies encompass projects focused on capturing landfill gas (LFG) and mitigating ozone-depleting substances (ODS) from discarded household appliances.
Among the approved methodologies, four address LFG projects. These are utilised by carbon registries including Verra, the Gold Standard, the American Carbon Registry, and the Climate Action Reserve. The remaining three methodologies pertain to ODS projects, with applications in the American Carbon Registry and Climate Action Reserve.
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Currently, the ICVCM is evaluating an additional 27 carbon credit methodologies, representing about half of the global market. This includes further LFG methodologies accounting for approximately 76 million credits and ODS methodologies covering roughly 4 million credits. Future approvals are anticipated in the sectors of deforestation reduction (REDD+) and clean cookstoves.
Verra has already applied CCP labels to over 10 million credits under its Verified Carbon Standard. These credits are publicly accessible via Verra’s registry. Project developers using ICVCM-approved methodologies can now request CCP labels for their projects if not previously certified.
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This announcement from ICVCM follows the recent endorsement of the voluntary carbon market by the US government, which provided guidance for trading and participation in carbon credits.
At DGB Group, we champion the transparent and stringent regulation of carbon crediting programmes, aligning with our vision for a sustainable future. We recognise the transformative power of nature-based solutions in generating high-integrity carbon units that protect and rejuvenate our natural environment. Our focus lies in innovative projects such as reforestation, afforestation, biodiversity restoration, and agroforestry, aiming to make a significant positive impact. We enable businesses, investors, and individuals to engage actively in nature preservation through the carbon market. Together, we can create a sustainable future, leveraging carbon units to build a greener world.
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