The public consultation of the Integrity Council for the Voluntary Carbon Market (ICVCM) has now closed, and Verra has submitted its comments about the proposed Core Carbon Principles (CCPs) and the Assessment Framework (AF) and related documents.

We thank the ICVCM for the opportunity to participate in this consultation.

Verra fully supports the work of the ICVCM to set a definitive global threshold for high-quality carbon credits that will mobilize finance and underpin the voluntary carbon market’s contribution to solving the climate crisis. As mentioned in our recent commentary, our input aims to ensure that the CCPs and AF drive high integrity across all carbon crediting programs in the voluntary carbon market and help realize the rapid scaling of climate action that the world needs.

To do so, the CCPs and AF need to set reasonable requirements in this first round and collaborate with crediting programs and other stakeholders to build them up over time. If we are to get high impact and fast benefits from the ICVCM process, it needs to target known problems and avoid trying to advance heavy assessment processes on all fronts where we are already confident the market is in good shape.

This is a key moment to define the shape of the ICVCM going forward and ensure its impact on both integrity and market scaling. Verra looks forward to the outcome of this consultation and extends its appreciation to the ICVCM and all other stakeholders who are submitting comments. We are committed to the continued development of a high-integrity market that advances climate mitigation and sustainable development.