Integrity Council for the Voluntary Carbon Market

The Integrity Council for the Voluntary Carbon Market (IC-VCM) is the new governance body established to set and enforce global standards for the voluntary carbon market. Its purpose is to ensure the voluntary carbon market contributes to the goals of the Paris Agreement by mobilizing finance into projects and programs that reduce or remove greenhouse gas emissions in the atmosphere.

Alongside rapid, science-based reductions and removals of actual emissions across the economy, a high-integrity voluntary carbon market has the potential to mobilize billions of dollars a year in additional climate finance that removes carbon or cuts emissions, facilitates staying within the 1.5 degrees C limit of the Paris Agreement, and helps the world achieve the Sustainable Development Goals.

With high-integrity standards in place, the voluntary carbon market can also build resilience in the world’s most vulnerable countries and support sustainable development and the livelihoods of Indigenous peoples and local communities. 

This can only happen where there is a high degree of confidence in the market. To achieve that vision, the voluntary carbon market will need to be more standardized, robust, and transparent, so that buyers have confidence in what they are buying, sellers can attract the finance they need at the right price, and everyone can be confident the voluntary carbon market is contributing to the Sustainable Development Goals. This allows the market to scale with integrity. We are committed to setting the highest standards with robust assurance, working in collaboration with the entire landscape of actors in the voluntary carbon market to deliver improvements that can inspire a new wave of investment that is urgently needed.

The Integrity Council will establish Core Carbon Principles that will act as a global benchmark for a high-quality carbon credit and in doing so, will help overcome the fragmentation and lack of transparency that currently hinders the voluntary carbon market. We are convening world experts and thought leaders from the United Nations, government, financial markets, NGOs, science, academia, civil society, business, and local communities to develop these principles and ensure all perspectives are included and incorporated. 

About Us

The Governance Body

The Governance Body consists of 22 Board Members with representation across all the key stakeholder groups, including Indigenous people, experts in carbon market methodologies, sustainable finance, eNGOs, UNFCCC process expertise, regulatory affairs, the corporate sector, science, and academia. The Board will call on its Distinguished Advisory Group of senior leaders to provide strategic advice and deploy their extensive network to engage key stakeholders.

Our Expert Panel, which guides the governing body on technical issues, is made up of pre-eminent scientists and researchers and is supported by an Executive Secretariat with experience across operations and governance, market formation, standards development, and communications. 

The Consultation Group is comprised of about 250 organizations and represents the perspectives of all stakeholders. The Integrity Council is also establishing various stakeholder panels – including an Indigenous Peoples and Local Communities Panel – whose perspectives and expertise will feed directly into the Expert Panel’s guidance. 

 

 

Governing Board

Annette L. Nazareth
Co-Chair of the IC-VCM

Former SEC Commissioner, Senior Counsel, Davis Polk and Wardwell

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Hugh Sealy
Co-Chair of the IC-VCM

Vice-Chair, Clean Development Mechanism Executive Board

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Giulia Carbone

Director, Natural Climate Solutions Alliance, WBCSD

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Marguerite Catanzaro

Vice President, Breakthrough
Energy Catalyst

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Sonja Gibbs

Managing Director and Head of Sustainable Finance, IIF

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Doris Honold

Board Member, Climate Bonds

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Michael Hugman

Director, Climate Finance, Children’s Investment Fund Foundation (CIFF)

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Ma Jun

Board Member, Institute of Finance and Sustainability

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Mark Kenber

CEO, Climate Advisers UK
Managing Director, Orbitas

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Farrukh Khan

Chef de Cabinet, United Nations

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Kelley Kizzier

Vice President for Global Climate, Environmental Defense Fund

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Dee Lawrence

Director and Co-Founder,
High Tide Foundation

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Kavita Prakash-Mani

CEO, Mandai Nature

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Agustin Silvani

SVP, Conservation Finance,
Conservation International

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Rod Taylor

Global Director of the Forests
Program, WR

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Carl Wesselink

Director, SouthSouthNorth

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David Antonioli

CEO, Verra

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Chris Leeds

Head, Carbon Markets Development, Standard Chartered Bank

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Jeff Swartz

Director, Climate, bp

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Indigenous Peoples and Local Communities (to be appointed)

Indigenous Peoples and Local Communities (to be appointed)

Indigenous Peoples and Local Communities (to be appointed)

Our Expert Panel Co-Chairs

Pedro Martins Barata

Senior Director at EDF and Partner at Get2c

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Daniel Ortega-Pacheco

Director, Center for Public Policy Development –ESPOL Polytechnic University

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Lambert Schneider

Research Coordinator for
Internat.Climate Policy, Öko-Institute.V.

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Our Executive Secretariat

Our Founding Sponsors

Our Member Consultation

Group

450+ Members from 250+ Organizations actively
participate in the Member Consultation Group

Reports from the Taskforce on Scaling Voluntary Carbon Markets, whose work informed the formation of the Integrity Council

Taskforce on Scaling Voluntary Carbon Markets: Phase 2 Final Report

The Taskforce has published the final report of the Development and Implementation Phase (Phase 2) on July 8. The report is composed of three main documents. For a brief overview there is also a summary document available.

Summary Document

Brief overview of the final report

Final Report

The Final Report which covers four topics:

A) Objectives and focus of the TSVCM

B) Governance

C) Legal Principles and Contracts

D) Credit-Level Integrity

Technical Appendix 

A technical appendix containing the analyses which have informed the other two documents

Statement on High Ambition Path to Net-Zero

Six eminent leaders published a statement on high ambition path to Net-Zero. You can publicly endorse the statement below:​

  • Lord Nicholas Stern (Chair of the Grantham Research Institute on Climate Change, LSE)
  • Günther Thallinger (Chair, UN-convened Net Zero Asset Owner Alliance)
  • Mark Carney (UN Special Envoy for Climate Action and Finance)
  • Bill Winters (Group CEO, Standard Chartered)
  • Annette Nazareth (Senior Counsel at Davis Polk and former Commissioner of the U.S. SEC)
  • Tim Adams (President and CEO, Institute of International Finance)

Download the statement

Taskforce on Scaling Voluntary Carbon Markets: Phase 1 Final Report

In January 2021, the Taskforce on Scaling Voluntary Carbon Markets published its blueprint on creating a large-scale, transparent carbon credit trading market. To limit atmospheric warming to 1.5°C, the world must halve existing greenhouse gas emissions by 2030 and achieve net-zero emissions by 2050. Every business needs to adjust its business model and develop credible transition plans.

A large-scale voluntary carbon market is critical to reaching the goals of the Paris Agreement – it will enable more companies to turn net-zero commitments into action through investments in emissions abatement projects, where they will have the most effect.

CONTACT

To stay connected and receive updates on the Integrity Council’s announcements and activities, please reach out to info@icvcm.org.

 

Email: info@icvcm.org