ICVCM Explains How Core Carbon Principles Complement Article 6

The Integrity Council for the Voluntary Carbon Market has published a detailed explanation of how its Core Carbon Principles work alongside Article 6 of the Paris Agreement to create consistent standards across international carbon markets. The Integrity Council, established at COP26 in Glasgow, positions the CCPs as complementary governance for the voluntary carbon market, which Article 6 does not directly regulate.

Article 6 contains two market-related mechanisms: Article 6.2 governs cross-border trading of emissions reductions between governments through Internationally Transferred Mitigation Outcomes, while Article 6.4 establishes a UN-hosted carbon-crediting programme called the Paris Agreement Crediting Mechanism. The ICVCM's Assessment Framework was developed through a multi-stakeholder process and aligns with Article 6 integrity criteria, with former UNFCCC negotiators serving on the Integrity Council's governing board and expert panel.

The ICVCM identifies three specific areas where the CCPs support Article 6 implementation. First, they increase alignment across international carbon markets by providing quality standards that Article 6 itself does not set for voluntary credits. Second, they enable countries to use existing voluntary carbon market infrastructure for Article 6 trading, as demonstrated by Singapore's use of CCP criteria in its national carbon tax compliance framework. Third, the Assessment Framework provides a reference for countries developing domestic carbon market strategies ahead of Article 6 cooperation.

The ICVCM committed to continuing engagement with the Article 6.4 Supervisory Body, the UNFCCC, UN agencies, and multilateral development banks to ensure a coherent approach to integrity across compliance and voluntary markets. Continuous Improvement Work Programmes will continue to consult with governments to ensure the CCPs remain aligned with or exceed the integrity of Article 6 guidance. The council views both frameworks as necessary for governments and corporations to deliver high-integrity climate finance at scale.

Key figure — 195 countries party to the Paris Agreement framework