The Integrity Council for the Voluntary Carbon Market (ICVCM), an independent governance body for the voluntary carbon market, outlined standards on March 30 that it hopes will bring transparency to the $2 billion market, which has struggled for credibility.
ICVCM’s Core Carbon Principles (CCP) aims to help what is currently an unregulated, voluntary market with many different standards and approaches.
ICVCM is made up of project developers, academics, NGOs, policy makers, investors and local communities and credit buyers.
As companies seek to use the credits to help meet net-zero emissions goals, demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected to grow.