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ICVCM reveals first CCP approved carbon credits worth 27M

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Credits or enjoy below:

🗞️ Driving the news: The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved the first carbon-crediting methodologies under its stringent Core Carbon Principles (CCPs), amounting to 27 million high-integrity carbon credits
• Seven methodologies met the CCP criteria, covering projects that mitigate potent greenhouse gases like methane from landfills

🔭 The context: This approval marks a significant milestone in ensuring the integrity of carbon credits, with 27 additional methodologies under review
• These ongoing assessments include credits from landfill gas, ozone-depleting substances, and popular carbon credit types such as REDD+ and clean cookstoves

🌍 Why it matters for the planet: High-integrity carbon credits are crucial for achieving real emissions reductions and supporting global climate goals
• The CCP label guarantees that these credits represent genuine environmental benefits with robust social and environmental safeguards

⏭️ What's next: ICVCM will continue its evaluations, with more methodologies expected to gain CCP approval in the coming months. This rigorous process aims to bolster trust in the voluntary carbon market, driving private sector finance toward quality emission reduction projects

💬 One quote: Annette Nazareth, Chair of the ICVCM, stated, “This is just the beginning. We will be announcing further categories eligible for CCP-labels that meet our criteria as we continue our careful and thorough evaluation.”

📈 One stat: The initial CCP-approved methodologies account for about 27 million carbon credits, with another 76 million credits under evaluation from landfill gas projects alone

Click for more news covering the latest on carbon market

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