Jonathan Shopley, Managing Director of External Affairs at Climate Impact Partners, shares his thoughts on today's publication of the Integrity Council for the Voluntary Carbon Market's (IC-VCM) Assessment Framework for determining whether carbon credits meet its high-integrity Core Carbon Principles (CCPs). Carbon-crediting programs are now able to apply for assessment, with approved programs able to use the CCP label on specific categories of credits that have been approved as meeting the CCPs.
“Today’s new Assessment Framework could be the key that unlocks the Voluntary Carbon Market’s full potential, provided two things happen:
- Firstly, the IC-VCM must retain the pace required to issue the first CCP-labelled credits by year-end.
- Secondly, projects operating on the ground, having impact today, must be able to see the value in the additional processes required – we need a strong pipeline to create scale.
The Framework is a significant step at a time when we need to see urgent climate action and raised ambitions. Setting meaningful fundamental principles for quality will provide assurance that the voluntary carbon market is the right choice for private sector investment and capital flows that will deliver real impact on our global climate goals.”
Today’s new Assessment Framework could be the key that unlocks the Voluntary Carbon Market’s full potential, provided two things happen. Firstly, the IC-VCM must retain the pace required to issue the first CCP-labelled credits by year-end. Secondly, projects operating on the ground must be able to see the value in the additional processes required.
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