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A Third of Carbon Credits Fail on New ‘High-Integrity’ Criteria. The image shows a solar power plant in Thailand.(Photo: B.Grimm Power)
Due to a lack of additionality, nearly one-third of carbon credits in the global voluntary carbon market do not meet high-quality standards, potentially causing further damage to the struggling market and highlighting that greenwashing issues may be more severe than previously thought.
ICVCM: 8 renewable energy methodologies fail additionality standards
On August 6, the International Carbon Voluntary Market Integrity Initiative (ICVCM) announced that eight methodologies for obtaining carbon credits do not meet additionality requirements and therefore will not receive the Core Carbon Principles (CCP) label for high-quality carbon credits. It is estimated that 236 million unretired carbon credits are affected, representing 32% of the market. The eight methodologies related to renewable energy are:
