ICR Receives Unconditional ICROA Endorsement, Solidifying Commitment to High Integrity Carbon Credits
REYKJAVIK, Iceland, Jan. 31, 2025 /PRNewswire/ -- The International Carbon Registry (ICR) has received unconditional endorsement of its carbon crediting program by the International Carbon Reduction and Offset Alliance (ICROA).This achievement solidifies ICR's position among the foremost carbon standards in the voluntary carbon market (VCM).
ICROA is a globally recognized code of best practice committed to enhancing integrity in the carbon markets, ensuring that endorsed GHG programs comply with high standards across governance, registration, validation, and verification. The endorsement process involves stringent third-party assessments of a program's ability to meet ICROA's comprehensive criteria, which include environmental and social impact, independence, and stakeholder considerations. ICROA represents a benchmark for high-quality and integrity carbon crediting programs.
ICR's achievement of this full endorsement is a testament to its robust processes and commitment to high-integrity carbon credit issuance. Furthermore, ICR is the second organization to receive full endorsement against the latest version of ICROA's guidelines, which were updated last year with more stringent requirements, including conflict-of-interest management and transparency. Notably, ICR successfully completed the endorsement process in less than 12 months, demonstrating its commitment to efficiency, transparency, and best practices.
ICROA Approval and VCM Policy Director at IETA, Antoine Diemert, commented on the endorsement: "ICROA is pleased to add ICR to its list of endorsed crediting programs. ICR's work incentivizes and accelerates the transition to a circular and sustainable industry, and their standard has successfully met all of ICROA's criteria."
The International Carbon Registry (ICR) currently has 121 projects listed on its platform, covering different sectors, both nature and technology based climate solutions on all continents. The program is supported by 20 Validation and Verification Bodies (VVBs), ensuring that all projects meet the requirements for registration and issuance of carbon credits. The ICR relies on ISO standards as its core, for projects, validation, verification and accreditation. In addition ICR compliments ISO standards with comprehensive and robust requirements, focusing on innovation, efficiency and standardization while safeguarding environmental and socio-economic integrity.
"Receiving ICROA's endorsement is a significant milestone for the International Carbon Registry (ICR). This recognition validates the integrity of the ICR program. We firmly believe that innovation and integrity can coexist within the carbon markets, and we are dedicated to embracing both values as we continue to advance. Most importantly the endorsement enhances the credibility of the climate projects registered with the ICR, globally, reinforcing the trust in the quality ICR's credits brings," said Gudmundur Sigbergsson, International Carbon Registry's Founder and CEO.
With this endorsement, awarded only 10 months after submission, ICR joins an exclusive group of carbon crediting programs endorsed for their high standards, providing confidence to companies and stakeholders relying on and trusting carbon credits and VCM in general, that ICR credits are additional, measurable, permanent, real, certified and aligned with sustainable development goals.
CONTACT:
Media Inquiries:
Alondra Silva Muñoz
Chief Marketing Officer
International Carbon Registry
alondra@carbonregistry.com
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