The Integrity Council for the Voluntary Carbon Market (ICVCM) has launched a global benchmark for high-integrity carbon credits. The benchmark aims to bring transparency and clarity to the definition of a high-quality carbon credit, which companies use to offset their climate impact. Developed through consultations with scientific and carbon-crediting experts, the benchmark will assess whether carbon credits meet the ICVCM’s high-integrity Core Carbon Principles (CCPs). Carbon-crediting programmes can now submit evidence to the ICVCM to prove that they meet the CCPs and become eligible for the CCP label. The ICVCM is also setting up multi-stakeholder working groups to evaluate different categories of carbon credits and associated crediting methodologies against the CCP criteria. The first CCP-eligible programmes and CCP-approved credit categories are expected to be announced by the end of the year. The benchmark launch is seen as an important step towards defining a global threshold for high-integrity carbon credits and accelerating the transition towards the Paris Agreement’s 1.5°C goal. Carbon offset certifier Gold Standard will be updating its rules to align with the benchmark. The activation and scaling of high-integrity voluntary carbon markets could become a priority at COP28 in November, following slow progress on carbon market principles at the Bonn climate talks in June.
ICE is preparing to introduce a futures market for carbon credits under CORSIA, which will focus on reducing airline emissions.
Intercontinental Exchange (ICE) announced plans to launch a physically delivered futures contract for carbon credits eligible for use by the...