The ICVCM Governing Board recently approved three REDD methodologies for CCP-eligibility: ART TREES v2.0 (except its HFLD and removal components), VM00048 v1.0 and the VCS JNR v4.1. This is the first ICVCM decision on any REDD methodologies and sets a precedent for this activity type.
In my assessment, these methodologies, in their current form, do not meet the Core Carbon Principles (CCP), as operationalized in the requirements of the Assessment Framework with regards to additionality, robust quantification and permanence. Together with colleagues we substantiate this in a blogpost (here on the INFRAS website and here on the website of the Oeko-Institut).
I believe in the vision of ICVCM: Build integrity and scale will follow. This is how integrity can be earned and not vice versa. The current methodologies offer real improvements on previous approaches, but do not make sure that credits will have sufficient environmental integrity. The decision by the ICVCM risks putting into question the quality of the ICVCM Assessment Process and poses environmental integrity risks.
REDD activities are comparatively large activities in the voluntary carbon market. With its decision, ICVCM risks that the market is supplied with millions of CCP-labelled credits from activities that are non-additional, significantly over-credited, and of low permanence.
Therefore, after three exciting and intensive years, I decided to step down from the ICVCM Expert Panel (respectively revoke my re-application).
I would like to warmly thank Annette Nazareth, Kelley Kizzier, Debbie Stowell, Amy Merrill, Daniel Ortega, Gabriel Labbate, Pedro Barata, Lambert Schneider, Derik Broekhoff, Gilles Dufrasne, Michael Gillenwater, Donna Lee, Quirin Oberpriller, Randall Spalding-Fecher, Jessica Wade-Murphy, Amr Osama Abdel-Aziz and everyone else at ICVCM for the great collaboration.
Juerg Fuessler
Managing Partner, INFRAS
Zurich 10 December 2024
The views expressed in this note are solely my own and do not represent ICVCM or the ICVCM expert panel.
Additional resources on credit quality and environmental integrity:
- Detailed Blogpost on first ICVCM REDD decision: INFRAS website and the website of the Oeko-Institut
- Comprehensive FAO Paper by L. Schneider, I. Haase, D. Broekhoff, and T. Neeff on issues of non-permanence of current land based carbon market activities and how they could be addressed
- Science paper from G. Wells, U. Pascual, C. Stephenson, and C. M. Ryanon on deep uncertainties in models used to estimate changes in forest carbon
- The Carbon Credit Quality Initiative CCQI provides thorough analysis of many methodologies, including on Avoided Planned Deforestation and Avoided Unplanned Deforestation
- The Supervisory Body of the Article 6.4 mechanism provided a Standard: Requirements for activities involving removals
- Carbon Market Rating Agency Calyx Global wrote an excellent Blog on their assessment of VM0048: High quality? Only time will tell
