The ICVCM published the much anticipated Core Carbon Principles at the end of last week. We break down the 10 principles and what they mean for the voluntary carbon market in this article.
۔ کاربن کے بنیادی اصول (CCPs) were years in the making for the Integrity Council for the Voluntary Carbon Market (ICVCM), so their publication last week was highly anticipated. Meant to standardize the quality of carbon credits sold on the voluntary market, the CCPs were developed through global cooperation from every stakeholder in the carbon world.
کچھ رائے میں اختلافات emerged after the publication of a draft in September, with some players finding the CCPs too stringent and expressing concerns over their applicability. At the time, voluntary carbon registry Verra said its faith in the initiative was “shaken” and the CCPs were “on the wrong track”. But at ClimateTrade, the opinion was that new technologies, such as blockchain, would support the implementation of the CCPs. ClimateTrade’s Co-Founder José Lindo replied to Verra’s open letter as follows: “There are now emerging technologies such as DLT/Blockchain, IoT, smart contracts which can automate processes in ways which were unthinkable only five years ago. Yet we must acknowledge that CCPs are an innovative tool to raise integrity standards and interdependence across the industry.” Critics like Verra have yet to comment on the final version of the CCPs.
Now that the final rules are out, carbon crediting programs will go through an eligibility assessment, with the first CCp credit approval expected before the end of 2023, according to the ICVCM. Those approved could then display a CCP ‘label’ that would help buyers identify high-quality carbon credits.
So what exactly are the Core Carbon Principles, and how do they respond to the carbon market’s need for transparency?
گورننس
Almost half of the rules relate to how carbon crediting programs are governed: without good governance, none of the other quality principles could be guaranteed.
1. Effective governance
According to the principles: “The carbon-crediting program shall have effective program governance to ensure transparency, accountability, continuous improvement and the overall quality of carbon credits.”
While this sentence doesn’t go into detail as to what “effective governance” really is, the ICVCM adds in its Summary for Decision Makers that it will include “meeting governance requirements set out in CORSIA”, as well as “a transparent and robust corporate governance framework (…), including reporting and disclosure, and risk management policies and controls such as anti-bribery and anti-corruption”.
This CCP makes it clear that transparency and accountability are key elements in ensuring the quality of carbon credits.
2. ٹریکنگ
About tracking, the document says: “The carbon-crediting program shall operate or make use of a registry to uniquely identify, record and track mitigation activities and carbon credits issued to ensure credits can be identified securely and unambiguously.”
This is a key element to improve the integrity of the voluntary carbon market: without traceability of the carbon credits, they could be sold to more than one buyer, reducing the overall carbon mitigation generated by the market. It is one of the reasons we created the ClimateTrade marketplace, where carbon credits are identified with a unique blockchain key.
The ICVCM adds: “Specifically, the carbon-crediting program’s registry should identify by whom and on whose behalf a carbon credit was retired, identify the purpose of retirement, have procedures to address erroneous issuance of carbon credits and procedures and requirements to ensure no more than one carbon credit is issued per tonne of CO2 equivalent.”
3. شفافیت
“The carbon-crediting program shall provide comprehensive and transparent information on all credited mitigation activities. The information shall be publicly available in electronic format and shall be accessible to non-specialized audiences, to enable scrutiny of mitigation activities,” note the CCPs.
Here, the ICVCM addresses the burdensome and paper-heavy processes currently required to issue carbon credits, and confirms that digitization is crucial for transparency in carbon markets. ClimateTrade’s user–friendly marketplace displays accessible and verifiable information about the carbon mitigation projects generating credits – improving transparency and traceability.
4. Robust independent third-party validation and verification
Finally, the ICVCM explains: “The carbon-crediting program shall have program-level requirements for robust independent third-party validation and verification of mitigation activities.”
The issue of third-party verification became particularly apparent in January this year, when گارڈین found that a large proportion of reforestation credits sold under the Verra standard did not meet their carbon mitigation claims.
The ICVCM explains that to meet this criteria, crediting programs must set out the rules for how validation and verification bodies (VVBs) become and remain accredited, review their performance, and develop standards and procedures to guide them in their work. “These rules include provisions on VVB organizational structure and management, organizational resources, validation and verification processes, and information requirements, penalties for rule breaches and rules ensuring the impartiality of the VVB and the avoidance of conflicts of interest,” the Council adds.
Emissions impact
The second category included in the CCPs is that of ‘emissions impact’, a subset of principles meant to guarantee that carbon credits actually result in emissions removal.
5. اضافیت
Additionality is one of the main criteria to assess the quality of carbon credits. This specific CCP says: “The greenhouse gas (GHG) emission reductions or removals from the mitigation activity shall be additional, i.e., they would not have occurred in the absence of the incentive created by carbon credit revenues. “
For instance, a forest that is not at risk of deforestation, or a renewable project that is already approved and financed should not be able to issue carbon credits under this rule: the carbon savings they represent would exist with or without funding from the carbon market.
6. مستقل مزاجی
Next is permanence, a word used to describe how long carbon stays out of the atmosphere thanks to a mitigation project. Here, the ICVCM notes: “The GHG emission reductions or removals from the mitigation activity shall be permanent or, where there is a risk of reversal, there shall be measures in place to address those risks and compensate reversals.”
This is particularly important in the case of reforestation credits: as climate change increases the frequency of wildfires, it is important to make sure that the forests that have recently issued carbon credits are not destroyed.
7. Robust quantification of emissions reductions and removals
“The GHG emission reductions or removals from the mitigation activity shall be robustly quantified, based on conservative approaches, completeness and sound scientific methods,” says the document. This CCP addresses the concern that some of the benefits of carbon mitigation projects might be overstated, as was the case with the projects exposed by The Guardian.
In its Summary for Decision Makers, the ICVCM states that carbon crediting programs should develop a thorough and conservative quantification methodology with the help of public stakeholders and independent experts. They will also be required to verify emissions reductions or removals after they have been achieved.
8. No double counting
For the final CCP related to emissions impact, the ICVCM says: “The GHG emission reductions or removals from the mitigation activity shall not be double counted, i.e., they shall only be counted once towards achieving mitigation targets or goals. Double counting covers double issuance, double claiming, and double use.”
Double counting is one of the main concerns in the carbon market, and one that will certainly be tackled through the increase in tracking and traceability mentioned above.
پائیدار ترقی
Finally, the CCPs require that carbon mitigation projects be aligned with the UN’s Sustainable Development Goals (SDGs). This is something ClimateTrade is particularly excited about: we have always believed decarbonization should be aligned with the SDGs, which is why all the projects on the موسمیاتی تجارت کا بازار list their SDG contributions – and can even be filtered by SDG.
9. Sustainable development benefits and safeguards
The ninth CCP states that: “The carbon-crediting program shall have clear guidance, tools and compliance procedures to ensure mitigation activities conform with or go beyond widely established industry best practices on social and environmental safeguards while delivering positive sustainable development impacts.”
This principle will require mitigation projects to explain how their SDG impacts are consistent with the host country’s goals, as well as provide safeguards for the respect of human rights.
10. Contribution to net zero transition
“The mitigation activity shall avoid locking-in levels of GHG emissions, technologies or carbon-intensive practices that are incompatible with the objective of achieving net zero GHG emissions by mid-century,” the document concludes.
Do you want to know more about what the CCPs mean for ClimateTrade? رابطے میں آئیں ہمارے ماہرین کے ساتھ۔
- SEO سے چلنے والا مواد اور PR کی تقسیم۔ آج ہی بڑھا دیں۔
- پلیٹو بلاک چین۔ Web3 Metaverse Intelligence. علم میں اضافہ۔ یہاں تک رسائی حاصل کریں۔
- ماخذ: https://climatetrade.com/the-icvcms-10-core-carbon-principles-explained/
- : ہے
- 1
- 10
- 2023
- a
- قابلیت
- ہمارے بارے میں
- اوپر
- قابل رسائی
- کے مطابق
- احتساب
- معتبر
- حاصل کیا
- حصول
- تسلیم کرتے ہیں
- کے پار
- سرگرمیوں
- سرگرمی
- اصل میں
- ایڈیشنل
- پتہ
- پتے
- جوڑتا ہے
- کے بعد
- منسلک
- تمام
- پہلے ہی
- ہمیشہ
- اور
- متوقع
- واضح
- نقطہ نظر
- منظوری
- کی منظوری دے دی
- کیا
- مضمون
- AS
- تشخیص
- At
- ماحول
- سماعتوں
- خود کار طریقے سے
- دستیاب
- کی بنیاد پر
- BE
- بن
- اس سے پہلے
- خیال کیا
- فوائد
- BEST
- بہترین طریقوں
- سے پرے
- blockchain
- خلاف ورزیوں
- توڑ
- خریدار
- by
- کر سکتے ہیں
- کاربن
- کاربن کریڈٹ
- کیس
- قسم
- سی سی پی
- یقینی طور پر
- تبدیل
- دعوی
- دعوے
- واضح
- آب و ہوا
- موسمیاتی تبدیلی
- شریک بانی
- co2
- تبصرہ
- تعمیل
- وسیع
- اندیشہ
- اندراج
- مفادات میں تضاد
- قدامت پرستی
- متواتر
- مسلسل
- معاہدے
- شراکت
- شراکت دار
- کنٹرول
- تعاون
- کور
- کارپوریٹ
- کارپوریٹ گورننس
- سکتا ہے
- کونسل
- ملک کی
- پر محیط ہے
- بنائی
- کریڈٹ
- کریڈٹ
- معیار
- ناقدین
- اہم
- اس وقت
- decarbonization
- فیصلہ
- تباہی
- ترسیل
- بیان
- تباہ
- تفصیل
- ترقی
- ترقی یافتہ
- ترقی
- DID
- ڈیجیٹائزیشن
- انکشاف
- دکھائیں
- دکھاتا ہے
- دستاویز
- نہیں کرتا
- دوگنا
- نیچے
- ڈرافٹ
- e
- موثر
- الیکٹرانک
- عنصر
- عناصر
- اہلیت
- ابھرتی ہوئی
- اخراج
- اخراج
- کو چالو کرنے کے
- کو یقینی بنانے کے
- کو یقینی بنانے ہے
- ماحولیاتی
- مساوی
- قائم
- بھی
- ہر کوئی
- بالکل
- بہت پرجوش
- توقع
- ماہرین
- وضاحت
- وضاحت کی
- بیان کرتا ہے
- ظاہر
- عقیدے
- فائنل
- تلاش
- پہلا
- مندرجہ ذیل ہے
- کے لئے
- جنگل
- فارمیٹ
- ملا
- فریم ورک
- فرکوےنسی
- سے
- فنڈنگ
- گیس
- پیدا
- پیدا کرنے والے
- GHG
- GHG اخراج
- گلوبل
- Go
- اہداف
- اچھا
- گورننس
- گرین ہاؤسنگ گیس
- اس بات کی ضمانت
- بات کی ضمانت
- ولی
- رہنمائی
- رہنمائی
- نصف
- ہے
- مدد
- یہاں
- اعلی معیار کی
- انتہائی
- میزبان
- کس طرح
- HTTPS
- انسانی
- انسانی حقوق
- i
- کی نشاندہی
- شناخت
- اثر
- اثرات
- نفاذ
- اہم
- کو بہتر بنانے کے
- بہتری
- کو بہتر بنانے کے
- in
- انتباہ
- شامل
- شامل
- سمیت
- اضافہ
- آزاد
- صنعت
- معلومات
- انیشی ایٹو
- جدید
- مثال کے طور پر
- سالمیت
- دلچسپی
- IOT
- جاری کرنے
- مسئلہ
- جاری
- IT
- میں
- جنوری
- کلیدی
- جان
- بڑے
- آخری
- سطح
- کی طرح
- لسٹ
- لانگ
- مین
- بنا
- سازوں
- بناتا ہے
- بنانا
- انتظام
- مارکیٹ
- بازار
- Markets
- زیادہ سے زیادہ چوڑائی
- اقدامات
- سے ملو
- ذکر کیا
- طریقہ کار
- طریقوں
- شاید
- تخفیف
- زیادہ
- ضرورت ہے
- خالص
- نئی
- نئی ٹیکنالوجی
- نوٹس
- مقصد
- ہوا
- of
- on
- ایک
- کھول
- کام
- رائے
- تنظیمی
- دیگر
- مجموعی طور پر
- خاص طور پر
- کارکردگی
- مستقل
- مقام
- پلاٹا
- افلاطون ڈیٹا انٹیلی جنس
- پلیٹو ڈیٹا
- کھلاڑی
- پالیسیاں
- مثبت
- طریقوں
- اصول
- اصولوں پر
- طریقہ کار
- عمل
- پروگرام
- پروگرام
- منصوبے
- منصوبوں
- تناسب
- فراہم
- عوامی
- اشاعت
- عوامی طور پر
- شائع
- مقصد
- معیار
- بلند
- وجوہات
- حال ہی میں
- ریکارڈ
- کو کم کرنے
- رجسٹری
- متعلقہ
- رہے
- قابل تجدید
- رپورٹ
- کی نمائندگی
- کی ضرورت
- ضرورت
- ضروریات
- وسائل
- احترام
- جواب
- نتیجہ
- ریٹائرمنٹ
- آمدنی
- الٹ
- کا جائزہ لینے کے
- حقوق
- رسک
- رسک مینجمنٹ
- خطرات
- مضبوط
- حکمرانی
- قوانین
- کہا
- بچت
- کا کہنا ہے کہ
- SDGs
- دوسری
- محفوظ طریقے سے
- سزا
- ستمبر
- مقرر
- ہونا چاہئے
- ہوشیار
- سمارٹ معاہدہ
- So
- سماجی
- فروخت
- کچھ
- کچھ
- آواز
- مخصوص
- حصہ دار
- اسٹیک ہولڈرز
- معیار
- معیار
- امریکہ
- ساخت
- اس طرح
- خلاصہ
- حمایت
- پائیدار
- پائیدار ترقی
- اہداف
- ٹیکنالوجی
- کہ
- ۔
- گارڈین
- کے بارے میں معلومات
- ابتداء
- منصوبے
- ان
- ان
- تیسری پارٹی
- اس سال
- کے ذریعے
- وقت
- کرنے کے لئے
- بھی
- کے آلے
- اوزار
- کی طرف
- Traceability
- ٹریک
- ٹریکنگ
- شفافیت
- شفاف
- کے تحت
- منفرد
- منفرد
- استعمال کی شرائط
- توثیق
- توثیق
- اس بات کی تصدیق
- ورژن
- طریقوں
- ہفتے
- اچھا ہے
- کیا
- جس
- جبکہ
- بڑے پیمانے پر
- گے
- ساتھ
- بغیر
- لفظ
- کام
- دنیا
- گا
- غلط
- سال
- سال
- زیفیرنیٹ
- صفر