ICVCM Clarifies Multi-Track Carbon Credit Assessment Process and Terminology

The Integrity Council for the Voluntary Carbon Market has published a detailed explanation of its assessment process for carbon-crediting programs and credit categories, simultaneously retiring the terms "fast track" and "deeper assessment" that it previously used. The ICVCM confirmed that all categories undergo assessment with the same rigour, regardless of whether they are evaluated internally or through Multi-Stakeholder Working Groups.

The ICVCM's internal team is conducting parallel assessments of carbon-crediting programs and certain categories of credits, while Multi-Stakeholder Working Groups are being convened for categories that raise more complex technical or policy issues. The distinction between tracks reflects complexity, not depth of scrutiny — categories assessed internally are those expected to be more straightforward, while those referred to Multi-Stakeholder Working Groups involve more nuanced methodological or environmental questions. The Integrity Council stated it is on track to deliver decisions on programs and categories in the first quarter of 2024.

The ICVCM has eliminated earlier terminology including "fast track" and "deeper assessment" to avoid creating a perception that some categories receive less rigorous treatment than others. Assessment outcomes are subject to formal review by the Standards Oversight Committee and ultimately require a decision by the Integrity Council's Governing Board. Full lists of programs and categories under assessment, along with progress updates, are publicly available on the ICVCM website, consistent with its commitment to transparency.

The shift in terminology also signals the ICVCM's intent to maintain a regulatory-like posture in how it communicates its work to the market. The Council has stated that its process — drawing on extensive stakeholder participation — is designed to bring consistency and high integrity to the voluntary carbon market at a pivotal moment when the first CCP-labelled credits are expected to appear. Once the Governing Board takes decisions on programs and categories, CCP-Eligible programs will be able to issue CCP-labelled credits from approved categories.

Key figure — Q1 2024 — target period for the Integrity Council to deliver first assessment decisions on programs and categories