How we assess categories of carbon credits
The Integrity Council, through its Assessment Procedure established a process, to assess Categories of carbon credits for adherence to the Core Carbon Principles and its Assessment Framework. This process includes establishment of Multi-Stakeholder Working Groups which provide input and advice to the Integrity Council, including its Governing Board and relevant committees.
In establishing its Multi-Stakeholder Working Groups, the ICVCM is committed to a fair and open recruitment process that delivers a diverse and inclusive membership, such as geographic and gender mix and participation from IP & LCs.
Step 1: The Category Working Group (CWG):
The CWG is the first step in the Category-level assessment of carbon credits. The CWG will prepare an initial analysis of whether Categories appear to meet the criteria and requirements in the Assessment Framework, and provisionally groups Categories of carbon credits into one of three groupings:
- Internal assessment, an internal assessment of the Category by the ICVCM before being considered by the governing board;
- MSWG assessment, an assessment of Categories by Multi-Stakeholder Working Groups (MSWG) before the Category is considered by the governing board
- Very unlikely to meet the criteria of the Assessment Framework and are deprioritized in the scheduling of Assessment. These will be assessed for adherence to the criteria and requirements of the Assessment Framework when other Category assessments are completed.
Membership of the CWG includes expertise across the carbon market ecosystem and was developed in coordination with ICVCM’s partner the International Emissions Trading Association (IETA):
- Lokesh Chandra Dube, Gold Standard
- Craig Ebert, CAR
- Jerry Seager, Verra
- Jessica Bede, ACR
- Sven Kolmetz, Climate Bridge
- Kirti Ramesh, BeZero
- Dana Agrotti, S&P
IP & LCs:
- Johnson Cerda, Conservation International
- Jamey Mulligan, Amazon
ICVCM Standards Oversight Committee representatives:
- Farrukh Khan
- Kelley Kizzier
- Alexia Kelly
- Mark Kenber
ICVCM Expert Panel representatives:
- Pedro Martins Barata
- Lambert Schneider
- Jessica Wade-Murphy
Step 2: The Multi-Stakeholder Working Groups (MSWG)
Once the CWG concludes its initial analysis, Multi-Stakeholder Working Groups (MSWG) are appointed and convened to conduct the multi-stakeholder assessment of Categories that have not been assigned to internal assessment.
The outcome of this process will determine whether:
- Categories meet the criteria and requirements for CCP Approval;
- Categories meet the criteria and requirements for CCP Approval contingent upon remedial action taken by the relevant carbon-crediting program(s);
- Categories do not meet the criteria and requirements for CCP approval.
Membership and selection process:
Each MSWG is composed of a cross-section of relevant carbon crediting methodology experts, including experts in both methodology development and project development. It also includes representatives of the ICVCM Standards Oversight Committee and the ICVCM Experts.
MSWG members (last updated 6th February 2024):
MSWG 1 members include representatives from: America Forest Foundation, Manulife investment Management, Rubicon Carbon, Anew Climate, Ecofor / Acre.io, Greenhouse Gas Management Institute, WWF alongside internal ICVCM experts and members of the Standards Oversight Committee.
Participating carbon crediting programs (with methodologies relevant to MSWG 1): Verra, ACR / Winrock, Gold Standard and Climate Action Reserve.
MSWG 2 members include representatives from: GreenCollar,Indigo Ag, EarthOptics, Green Star Royalties, The Nature Conservancy, Macquarie Bank Limited, Forliance, Carbonext, Calyx Global Inc, EDF, WWF alongside internal ICVCM experts and members of the Standards Oversight Committee.
Participating carbon crediting programs (with methodologies relevant to MSWG 2): Verra, ACR, Gold Standard, Climate Action Reserve (CAR).
MSWG 3 members include representatives from: ecosecurities, Mundo Verde Climate, C.E.L.L Investment, Infinite Solutions, International Energy Agency, Promethium Carbon alongside internal ICVCM experts and members of the Standards Oversight Committee.
Participating carbon crediting programs (with methodologies relevant to MSWG 3): Verra, Gold Standard.
The ICVCM is also establishing Continuous Improvement Work Programs to identify emerging best practice and innovative approaches to addressing key complex issues in the VCM. The understandings and reports developed by Continuous Improvement Work Programs will feed into the revised version of the Assessment Framework due at the end of 2025. Find out more here.