The Core Carbon Principles (CCPs) were developed by the Integrity Council for the Voluntary Carbon Market (ICVCM) to set a minimum benchmark for carbon credit quality. These principles were designed to help market participants identify carbon credits that meet a minimum quality threshold.

In early 2024, the ICVCM Category Working Group (CWG) began assessing various “categories” of carbon credits. A category is a project type combined with a greenhouse gas (GHG) methodology. The ICVCM decides whether each category is eligible to receive the CCP label.

This post is a companion piece to our always-up-to-date CCP-label tracker, which you can find here. Read on to see how the CCP labeling process works.

How the Core Carbon Principle labels are assigned

CCP labels are assigned to categories of carbon credits. Categories are a combination of project type and methodology. For example, avoided unplanned deforestation projects utilizing the methodology VM48, or grid-connected renewable energy using the CDM methodology ACM0002. Some categories are reviewed internally by the ICVCM Secretariat, with support from subject matter experts, while others receive input from Multi-Stakeholder Working Groups (MSWGs).

Carbon crediting programs have been invited to apply for eligibility to issue credits with the CCP label. For a credit to receive the CCP label, both the crediting program and category must meet minimum criteria. The outcome is a decision by the ICVCM Governing Board on whether individual categories of carbon credits and carbon-crediting programs are CCP-eligible.

According to our assessments, while the CCP label can be useful for setting a minimum bar for GHG integrity, a range of credit quality among approved categories persists. Our analysis has yet to identify any category that consistently generates credits without some level of risk. Our tracker provides a distribution of Calyx GHG ratings for CCP-eligible projects versus those that have expressly been rejected for the CCP label.

A step-by-step guide to CCP labeling

The ICVCM approves carbon crediting programs and carbon credit categories for CCP label approval through a multi-step process:

CCP Programs

1. Programs apply to ICVCM for CCP eligibility.
2. ICVCM reviews applications for CCP governance standards.
3. ICVCM Governing Board approves or rejects programs as CCP-eligible.

CCP Carbon-Credit Categories

1. ICVCM determines CCP categories (i.e., project type + methodology combinations).
2. Categories are split between two processes: internal review with subject matter experts or input from MSWGs.
3. The Standards Oversight Committee reviews materials prepared by the ICVCM Secretariat and/or Co-Chairs of MSWGs and makes a recommendation to the ICVCM Governing Board.
4. The ICVCM Governing Board approves or rejects each category as CCP-eligible. The Board may also issue an “Observations” document that explains the decision in more detail.

With approval at both the program and category levels, programs can issue CCP-labeled credits.

The ICVCM releases new CCP label decisions on an ongoing basis. To stay up to date on these decisions, see our CCP Label Tracker.