Verra welcomes the new assessment criteria for carbon credits, published today by the Integrity Council for the Voluntary Carbon Market (ICVCM). The criteria establish clear quality thresholds to inspire greater confidence in the carbon markets and their contributions to the Paris Climate Agreement and the Sustainable Development Goals.
“The world needs immediate and ambitious action on climate change, and the private sector and governments are increasingly recognizing their responsibility to help deliver that,” said Verra President and Interim CEO Judith Simon. “We believe ICVCM’s guidance will further support the delivery of quality credits from across the voluntary carbon market that buyers can trust.”
Verra is currently reviewing ICVCM’s assessment framework and remains supportive of the ongoing process of evaluating the various categories of projects.
As part of the organization’s ongoing commitment to continuous improvement, Verra will release a new update to its Verified Carbon Standard Program in August and continues work to strengthen and consolidate a subset of its REDD methodologies. Verra will be considering the best timing and scope for submitting its methodologies for ICVCM assessment