ICVCM Chair Nazareth Explains Core Carbon Principles Goals and Ambition

Annette Nazareth, Chair of the Integrity Council for the Voluntary Carbon Market, has outlined the rationale behind the Core Carbon Principles (CCPs) and defended their scope and ambition in a detailed Q&A with the organisation. Nazareth described the CCPs as an achievable starting benchmark that will evolve through successive consultation rounds, with the next version targeted for launch in 2025 and implementation in 2026.

Nazareth confirmed that CCP-eligible programs would be able to use the CCP label before the end of 2023, following publication of the Category-level Assessment Framework and the opening of program applications. The CCPs set 10 fundamental principles covering governance, emissions impact — including additionality, permanence, and robust quantification — and sustainable development, including robust social and environmental safeguards. She acknowledged criticism that the CCPs did not go far enough, but argued they represent a significant step forward, particularly on disclosure requirements and sustainable development safeguards.

The consultation process behind the CCPs drew more than 5,000 comments from 350 submissions during a two-month open consultation period, making it one of the most extensive voluntary carbon market standard-setting exercises undertaken. Nazareth confirmed that Indigenous Peoples and local communities were engaged through dedicated workshops and multilingual consultation documents in French, Spanish, and Portuguese. Three governing board seats are reserved for IP and LC representatives, and the ICVCM was recruiting subject matter experts from those communities to join its Expert Panel.

Nazareth was clear that CORSIA-approved programs would not automatically qualify for the CCP label and would need to demonstrate compliance with additional governance, transparency, and verification requirements. She also confirmed that Jurisdictional REDD+ and other nature-based credit categories would be reviewed against the CCPs before any category-level decisions are taken. Future work programs will address complex topics including Paris alignment, the UNFCCC Adaptation Fund contribution, and Corresponding Adjustments under Article 6.

Key figure — 5,000 comments from 350 submissions — public consultation response received during the CCP development process