ICVCM Announces First CCP-Labelled Carbon Credits Covering 27 Million Units

The Integrity Council for the Voluntary Carbon Market announced the first batch of carbon crediting methodologies meeting its high-integrity Core Carbon Principles, enabling the CCP label to be applied to an estimated 27 million carbon credits. The approved credits cover methane capture from landfill sites and destruction of ozone-depleting refrigerant gases.

The ICVCM approved seven carbon crediting methodologies in its third round of assessment decisions, covering two categories: Ozone Depleting Substances (ODS) destruction projects generating an estimated 12 million credits, and Landfill Gas (LFG) capture projects generating approximately 15 million credits. ODS projects destroy refrigerant gases from discarded appliances that are 725 to 14,400 times more harmful than CO2. Methane from landfill sites is 81 times more potent than CO2 over a 20-year period. Approved programs include ACR, Climate Action Reserve, Gold Standard and Verra.

The announcement followed the US government's publication of principles for high-integrity carbon credits closely aligned with the CCPs. Michael Bloomberg, Mark Carney, and Mary Schapiro called on policymakers to leverage the ICVCM and VCMI standards. The announcement signals that the voluntary carbon market's reform process is producing tangible results — the CCP label can now be applied to credits visible in program registries, with marketplaces expected to begin bundling CCP-labelled credits for sale during 2024.

Twenty-seven additional categories of carbon credits representing over 50% of the market remain under active assessment, including REDD+, jurisdictional REDD, and clean cookstoves. The ICVCM's multi-stakeholder working groups are assessing methodologies covering Improved Forest Management, Sustainable Agriculture, Renewable Energy, and other credit types. Amy Merrill, Integrity Council Interim COO, noted that many methodologies under assessment are not expected to meet the threshold and will be rejected, making CCP approval a genuine quality signal rather than a formality.

Key figure — 27 million carbon credits eligible for the CCP label following first approvals