Today, the Integrity Council for the Voluntary Carbon Market (ICVCM) announced (external) that it has approved the first set of methodologies that meet its Core Carbon Principles (CCPs). In accordance with this news, CCP labels are now active on the Verra Registry and may be applied to Verified Carbon Units (VCUs) from projects using methodologies that are eligible in the Verified Carbon Standard (VCS) Program and that have been approved by the ICVCM.
This announcement follows the ICVCM’s recognition of Verra’s landmark VCS Program as fully aligned with the detailed criteria of the CCPs for high-quality carbon credits.
As of June 6, 2024, Verra has applied CCP labels to over 10 million eligible VCUs issued to VCS projects on the Verra Registry. Project proponents that are using ICVCM-approved methodologies can request CCP labels for VCUs issued on the Verra Registry if the labels have not already been applied. The labels are visible in the VCU tab of the Verra Registry.
To date, the ICVCM has approved the following two methodologies that are active in the VCS Program for CCP label eligibility:
- AMS-III.G.: Landfill methane recovery, v10.0 (external) is approved for the following:
- All landfill gas project types that do not generate electricity
- Landfill gas-to-electricity projects with a capacity of equal to or below 10 megawatts electrical (MWe)
- ACM0001: Flaring or use of landfill gas, v15.0–19.0 (external) is approved for the following:
- All landfill gas project types that do not generate electricity
- Landfill gas-to-electricity projects with a capacity of equal to or below 10 MWe
CCP label eligibility for landfill gas-to-electricity projects using these methodologies with a capacity above 10 MWe remains under assessment by the ICVCM, along with other VCS Program methodologies.
VCUs issued to projects under prior versions of these methodologies are not eligible for CCP labels.
A guidance document about Verra’s process for CCP labels is forthcoming.
Verra has committed to providing a pathway for projects to update to an eligible methodology. A consultation on this procedure will be released in the coming weeks.
