1/3 of voluntary carbon credits fail CCP standard, affecting 8 renewable power methodologies and 236M unretired credits.
1/3 of existing voluntary carbon credits fail to meet criteria for Core Carbon Principle (CCP) standard introduced by Integrity Council for Voluntary Carbon Market (ICVCM). The CCP aims to serve as a global benchmark for the voluntary carbon market. 8 renewable power methodologies, comprising around 236M unretired carbon credits (32% of market), failed due to additionality concerns. Despite these failures, renewable projects can still be part of the voluntary carbon market. The failure to meet CCP standard might lead to lower prices for renewable offsets this year.
August 06, 2024
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