Program Revision - July 2024
Public consultation from July 22, 2024 to August 22, 2024
The International Carbon Registry is launching a public consultation to inform development of the ICR program. This consultation will solicit feedback on ICR program documentation to improve the usability and clarity.
Introduction
Founded in 2020 and headquartered in Iceland, the International Carbon Registry (ICR) is a global leader in carbon registration and management solutions. As a pioneer in integrating public blockchain technology, ICR provides a streamlined platform that accelerates the journey of carbon projects from design to delivery via marketplace integrations. Relying on globally recognized ISO standards, ICR simplifies the process of registering and issuing carbon credits (ICCs). ICR’s team of experts is passionate about creating real, measurable impact and support impactful climate solutions becoming real, while advancing the mission of leading the way to a sustainable future, while being at the heart of climate innovation.
The general enhancements across all documents include improved clarity and consistency, with added definitions and terminology to ensure clear understanding and coherence. Detailed procedural steps and criteria for various processes have been included, providing stakeholders with precise guidelines. Additionally, these documents now align more closely with international standards, adopting the latest ISO guidelines and integrating best practices and scientific advancements to ensure methodologies and processes are robust and credible.
Context
As the ICR advances, program requirements and procedures are periodically updated to maintain integrity, align with the latest science, enhance usability, and meet the evolving needs of the voluntary carbon market. The ICR is proposing to make important revisions and amendments to the ICR program requirements, processes, and procedures across several key documents and introduce new documents. These updates are designed to enhance clarity, ensure better alignment with ISO standards structure and content, align with ICAO CORSIA emission unit eligibility criteria and ICROA endorsement review criteria and ICVCM Core Carbon Principles.
What
The documents subject to this public consultation are the following:
ICR Definitions (Version 2.0 to 3.0): New terms and expanded definitions have been introduced to cover commonly used terms and concepts from ISO 14064-2 and other reference standards in relation to the ICR program. This ensures consistency with ISO standards and other international references, providing clear and comprehensive terminology for all stakeholders.
ICR Requirement Document (Version 5.0 to 6.0): Enhanced risk management frameworks and expanded environmental and socio-economic safeguards have been introduced, public consultation, ensuring comprehensive project assessment and implementation.
ICR Process Requirements (Version 5.0 to 6.0): Detailed steps for account creation, project registration, and the issuance and retirement of ICCs have been improved. Amended details about ICR review of project for registration and issuance of ICCs in addition to risk assessment and management of adjustment deposits. Specific guidelines for conformity assessment of project ensuring the integrity of the ICR program.
ICR Methodology Requirements (Version 2.0 to 3.0): Expanded principles and detailed criteria for methodology development and validation have been included. A structured approach to methodology revisions and implementation ensures that methodologies remain up-to-date and scientifically rigorous.
ICR Methodology Approval Process (Version 2.0 to 3.0): Clear procedures for periodic reviews, suspensions, and withdrawals provide a robust framework for continuous improvement and oversight.
ICR Validation and Verification Specifications (Version 1.0 to 2.0): A comprehensive list of normative references and expanded criteria for validation and verification has been improved. Detailed guidelines for team selection, and strategic analysis ensure thorough and accurate project validation and verification processes.
ICR Article 6.2 Procedures (New Document): This new document provides a framework for implementing and managing ITMOs under Article 6.2 of the Paris Agreement. It outlines procedures to prevent double claiming under international carbon markets, obtaining host country authorization, and ensuring corresponding adjustments, supporting international cooperation in achieving climate goals.
ICR Tool for Assessment of Environmental and Socio-Economic Safeguards (New document): The ICR Tool for assessment of Environmental and Socio-economic Safeguards (ICR ESS Tool) is based on the CDM Sustainable Development Co-benefits Tool (SD tool) and is intended to support proponents in reporting on potential environmental and socio-economic impacts arising from the project activities.
Details about the proposed revision are provided in the document ICR Program Update July 2024.
How
A public consultation gathering input from stakeholders on the proposed changes is a critical next step to inform and help guide the revision and amendment of the ICR program.
This consultation invites stakeholders to comment on the proposed revision on the ICR program documentation to deliver climate action at the scale, pace, and integrity needed to support global climate ambitions.
We welcome input on proposed updates that could improve the usability of the ICR Program, such as clarifications of requirements that may cause differences in interpretation between project proponents and validation/verification bodies. These comments will help inform the language of the proposed revision.
We invite you to review and comment on the proposed updates to the ICR program. Please use the public consultation document (below) to provide your comments and submit electronically via the provided online form by 22. August 2024. Your input on these proposals will help us finalize the revision of the ICR program. We look forward to receiving your feedback. If you have any questions during this consultation process, please contact us at [email protected].
Timeline
22.7.2024
Public consultation opens
2.8.2024
Consultation webinar
22.8.2024
Public consultation closes
August/Sept
Review comments and finalize documentation
Mid Sept.
Publish changes and updated documentation
Public consultation
Documentation and public consultation
Below all documents subject to the public consultation are provided, both clean versions and redacted from the latest (active) version.
ICR Definitions v3.0 - Version 3.0 for Public Consultation
ICR Requirement Document v6.0 - Version 6.0 for Public Consultation
ICR Process Requirements v.6.0 - Version 6.0 for Public Consultation
ICR Methodology Requirements v3.0 - Version 3.0 for Public Consultation
ICR Methodology Approval Process v3.0 - Version 3.0 for Public Consultation
ICR Validation and Verification Specifications v2.0 - Version 2.0 for Public Consultation
ICR Validation and Verification Specifications v2.0
ICR Validation and Verification Specifications 1-2 TC
ICR Article 6.2 procedures - Version 1.0 for Public Consultation (New Document)
ICR Tool for Assessment of Environmental and Socio-economic Safeguards v1.0 - Version 1.0 for Public Consultation (New Document)
ICR Tool for Assessment of Environmental and Socio-economic Safeguards v1.0
Public comments
Public comments received and ICR response to the comments.
Documentation post-public consultation
After the public consultation ICR made some revision to the consultation documentation where ICR deemed need for considering the comments raised. In addition ICR has been in the process of applying for ICROA endorsement. ICR received an assessment report from ICROA in September. ICR has further made some modification to the public consultation documentation to react to ICROA's comments. The final version of issued documentation can be found under relevant section of the documentation page but to transparently highlight the changes made from the public consultation documentation the final version are below redacted.
ICR Definitions v3.0 comparison to public consultation document
ICR Requirement Document v6.0 comparison to public consultation document
ICR Process Requirements v.6.0 comparison to public consultation document
ICR Methodology Requirements v3.0 comparison to public consultation document
ICR Methodology Approval Process v3.0 comparison to public consultation document
ICR Methodology Approval Process PC3 - 3 TC
ICR Validation and Verification Specifications v2.0 comparison to public consultation document
ICR Validation and Verification Specifications PC2 - 2TC
ICR Article 6.2 procedures comparison to public consultation document
ICR Tool for Assessment of Environmental and Socio-economic Safeguards v1.0 - Version 1.0 for Public Consultation (New Document) comparison to public consultation document
ICR Tool for Assessment of Environmental and Socio-economic Safeguards PC1 - 1TC
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