Market
ICVCM
Also known as: Integrity Council for the Voluntary Carbon Market, Core Carbon Principles
TL;DR
The integrity body that assesses voluntary-market methodologies against its Core Carbon Principles (CCPs) and labels CCP-eligible categories.
Full explainer
ICVCM — the Integrity Council for the Voluntary Carbon Market — is an independent governance body launched in 2022 to set quality benchmarks for voluntary-market credits. Its flagship product is the Core Carbon Principles (CCPs): ten high-level principles spanning governance, robust quantification, additionality, permanence, no double counting, and sustainable development. ICVCM assesses individual methodologies category-by-category and either grants or denies CCP-eligible status.
For Indonesian projects the most consequential ICVCM decisions to date are: (i) VM0048 received CCP-eligible status for several activity modules; (ii) several legacy VM0007 sub-modules (notably some Avoided Unplanned Deforestation variants) did not receive CCP eligibility, contributing to Verra's push toward VM0048 transition. CCP-eligible credits typically command a price premium and are favoured by integrity-conscious corporate buyers.
Authoritative source
ICVCM Core Carbon Principles →Related terms