ICVCM Marks 2024 Milestone as CCP-Labelled Credits Enter Market

The Integrity Council for the Voluntary Carbon Market described 2024 as a pivotal year, with all the largest independent carbon-crediting programmes now eligible to use the CCP label and the first CCP-approved methodologies enabling high-integrity credits to enter the market. Analysis cited by the ICVCM showed demand for CCP-labelled credits growing at a significantly higher rate than demand across the voluntary carbon market as a whole.

The ICVCM announced its first CCP-approved methodologies in June 2024, paving the way for the first CCP-labelled credits. Five major carbon-crediting programmes — ACR, ART, Climate Action Reserve, Gold Standard, and Verra — are now CCP-eligible. The council also launched two new stakeholder engagement initiatives: the Market Consultation Group for carbon market practitioners and the Data and Infrastructure Provider Network for specialist data providers. Government engagement expanded, with the US issuing voluntary guidance referencing the CCPs and both the UK and Singapore announcing intention to consult on endorsing the framework.

The ICVCM established its self-governing Indigenous Peoples and local communities VCM Engagement Forum in 2024, which defined strategic priorities including capacity building, grievance mechanism best practices, empowerment of traditional ecological knowledge, and removal of barriers to market participation. The forum is hosted by the ICVCM and is supported by three dedicated Board seats for Indigenous representatives. The council also significantly expanded its global reach, attending Climate Week NYC, COP16, and COP29 while growing engagement particularly in the Global South.

The first five Continuous Improvement Work Programmes concluded in July 2024 and reports will be published in 2025, covering Paris Agreement alignment, sustainable development benefits, and permanence approaches. A second batch of work programmes is now underway examining market infrastructure, validation and verification body oversight, renewable energy crediting, and transition crediting. The ICVCM also spoke at 28 panels at COP29 and hosted six tailored sessions, with the volume of CCP-labelled credits expected to grow further in 2025 as new methodology approvals continue.

Key figure — 28 panels at COP29 where ICVCM presented