The Integrity Council for the Voluntary Carbon Market (ICVCM) announced today a significant batch of new approvals, confirming the eligibility of several Carbon Dioxide Removal (CDR) methodologies and key forestry protocols to issue credits carrying the Core Carbon Principles (CCP) label. The approvals cover both engineered removals, which currently represent less than 1% of the voluntary carbon market (VCM) by issued volume but are expected to expand significantly, and emissions reduction/removal methodologies in the land-use sector.
Annette Nazareth, Chair of the ICVCM, emphasized that the science requires both emissions reductions and removals for effective climate action, noting that these latest approvals will provide "integrity-focused buyers" with new options across a range of high-impact categories.
The ICVCM approved six methodologies related to engineered CDR. Engineered CDR involves using purpose-built technologies to draw carbon dioxide from the atmosphere. The Governing Board also announced the full approval of the Climate Action Reserve’s (CAR) Mexico Forest Protocol (v3) and the approval of the methodology VM0047 v1.1.
Isometric Protocol Approvals
Five Isometric carbon removal protocols received approval from the ICVCM, making them the first carbon registry to receive ICVCM approval for protocols in these specific pathways. These approvals bring Isometric’s total number of CCP-approved protocols to six.
The five new CCP-approved Isometric protocols are:
- Biomass Geological Storage (v1.0-1.1)
- Bio-oil Geological Storage (v1.0-1.1)
- Subsurface Biomass Carbon Removal and Storage (v1.0)
- Biogenic Carbon Capture and Storage (v1.1)
- Direct Air Capture (v1.1)
All credits issued under these protocols are now eligible for the CCP label, with previously issued credits receiving the label retroactively. Specific examples of credits receiving the label retroactively include 25,215 Biomass Geological Storage credits issued to Vaulted Deep, 4,095 Subsurface Biomass Carbon Removal and Storage credits issued to Graphyte, 3,655 Bio-oil Geological Storage credits issued to Charm Industrial and 55 Bio-oil Geological Storage credits issued to NULIFE GreenTech
While these methodologies are relatively new, with approximately 30,000 credits issued to date, projects registered under Isometric methodologies are expected to issue over 3.2 million credits annually in the coming years.
Gold Standard Carbonation Methodology Approved Conditionally
The ICVCM also approved the Gold Standard methodology for Carbon Sequestration Through Accelerated Carbonation of Concrete Aggregate (v1.0). Projects using this methodology can generate CCP-labelled credits provided two conditions are met: (1) compliance with a rule update regarding baseline carbonation, and (2) the carbon dioxide source must be derived from Direct Air Capture (DAC) technology or be biogenic in origin. There are 15 projects registered under this Gold Standard methodology, expected to issue over 9,000 credits annually.
Full Approval for CAR Mexico Forest Protocol (IFM)
The Improved Forest Management (IFM) methodology under the Climate Action Reserve’s Mexico Forest Protocol Version 3.0 has received full approval, confirming it meets the CCP’s high standards for credit integrity, including additionality and permanence.
This designation follows a previous conditional approval regarding market leakage. CAR addressed this condition by issuing an Errata and Clarification document, allowing projects to substitute the previous flat 20 percent leakage rate with a variable market leakage rate. This variable rate is based on comparing the cumulative project harvest volume with the cumulative baseline harvest volume, allowing for leakage rates up to 40%.
Projects using this IFM methodology can now generate CCP-labelled credits, provided that two conditions are met:
- A minimum 40-year permanence commitment is in place.
- The market leakage rate is set based on the comparison of the cumulative project harvest volume with the cumulative baseline harvest volume.
The Mexico Forest Protocol uses a jurisdictional approach, aligning with Mexico’s communal governance structures and engaging directly with indigenous communities and local stakeholders. While 8.1 million IFM credits have been issued under this methodology and most v3 projects meet the permanence condition, the number that will become CCP-labeled or adopt the optional leakage procedure remains uncertain.
Approval for VM0047 v1.1 (ARR)
The methodology VM0047 v1.1 (Afforestation, Reforestation and Revegetation - ARR) also became CCP-Approved. This version represents a minor update to VM0047 v1 (approved in December 2024).
Key updates in v1.1 include:
- Allowing project activities on forested lands, provided that the area has not been managed for wood products.
- Extending the use of remote sensing data to estimate pre-existing woody biomass at the start date and using GPS coordinates or physical markers to identify trees.
The ICVCM confirmed that this updated version met all relevant criteria. While no credits have yet been issued under v1.1, 11 projects are at an earlier stage of the registration process, expected to issue 3 million credits annually.
New projects must use the latest Verra methodology, while projects using VM0047 v1.0 can continue to do so if they request pipeline listing by December 31, 2025, and registration by December 31, 2026.
Please reach out if you would like to discuss this development and the impact of CCP credits.