July 27 -- The Integrity Council for the Voluntary Carbon Market has launched a 60-day full, open public consultation on the draft Core Carbon Principles (CCPs), Assessment Framework and Assessment Procedure.
The Integrity Council for the Voluntary Carbon Market (Integrity Council) is an independent governance body for the voluntary carbon market. Our purpose is to ensure the voluntary carbon market accelerates a just transition to 1.5ºC. We do this by setting and enforcing definitive global threshold standards, drawing on the best science and expertise available, so high-quality carbon credits channel finance towards genuine and additional greenhouse gas reductions and removals that go above and beyond what can otherwise be achieved, and contribute to climate resilient development.
Our Mandate:
1. Establish, host, and curate a set of Core Carbon Principles (CCPs), which will set new threshold standards for high-quality carbon credits and define which carbon-crediting programs and methodology types are CCP-eligible.
2. Provide governance and oversight over standard setting organizations on adherence to CCPs as well as on market infrastructure and participant eligibility.
3. Help to coordinate and manage interlinkages between individual bodies; define a roadmap for the responsible growth of the Voluntary Carbon Market.
The purpose of the CCPs and Assessment Framework is ultimately to provide a credible, rigorous, and readily accessible means of identifying high-quality carbon credits that create real, additional and verifiable climate impact with high environmental and social integrity. We will do this by establishing a definitive and consistent benchmark for high-integrity carbon credits, based on solid science and best practice; assessing crediting programs and credit types against that benchmark; and clearly identifying those that meet it.
The draft CCPs and accompanying draft Assessment Framework will also establish a clear pathway for continual improvement. The draft Assessment Procedure sets out a proposed process for assessing CCP-eligibility, how eligible carbon credits will be tagged; how the Integrity Council will continue to oversee and enforce the CCPs; and facilitate the continual development of the voluntary carbon market.
The Consultation Process
* The draft CCPs, Assessment Framework and Assessment Procedure published for consultation are intended to serve as a robust, independent starting point that will be further informed by the insights and dialogue gathered during the public consultation
* The consultation will run for 60 days in line with international best practice and will include a series of virtual briefings and thematic deep dives, with the opportunity for follow ups.
* The public consultation will be overseen by the British Standards Institute (BSI), which has over one hundred years of experience in standard setting. All comments and submissions must be made in writing through the BSI website.
* The deadline for submitting comments is 23:59 BST on 27 September 2022.
* The proposals in the consultation documents will be updated/revised in response to feedback from the public consultation. Respondents are asked to provide both generic and detailed comments and suggestions for improvements to these proposals.
Why the Core Carbon Principles?: The Integrity Council’s role is to set and enforce a definitive global threshold standard for high-quality carbon credits. The purpose of the draft Core Carbon Principles (CCPs) and Assessment Framework is to provide a credible, rigorous, and readily accessible means of identifying high-quality carbon credits that create real, additional and verifiable climate impact with high environmental and social integrity. We will do this by establishing a definitive and consistent benchmark for high-integrity carbon credits, based on solid science and best practice; assessing crediting programs and credit types against that benchmark; and clearly identifying those that meet it. By establishing a globally-recognised benchmark for high-integrity credits, the CCPs will build trust, unlock additional investment and help deliver real climate impact at the speed and scale needed to keep 1.5°C alive.
Public briefing sessions -- Make sure you join us for one of our public briefing sessions, where we will be sharing more details on the consultation period, CCPS, and Assessment Framework. This will be your chance to hear from Annette Nazareth, former SEC Commissioner and Chair of the ICVCM Governing Board, as well as a selection of other fantastic speakers.
Session 1: Wednesday 27th July 14:00 – 14:45 (BST)
Session 2: Tuesday 2nd August 14:00 – 14:45 (BST)
ICVCM website:
https://icvcm.org/
Request for comments:
https://icvcm.org/public-consultation/