Verra coal retirement methodology receives first ICVCM Core Carbon Principles approval

Verra's VM0052 methodology for the early retirement of coal-fired power plants has become the first energy transition methodology to receive approval from the Integrity Council for the Voluntary Carbon Market (ICVCM) as meeting the Core Carbon Principles (CCPs). This approval means transition credits issued under VM0052, which requires a just transition plan for affected workers and communities, can now carry the CCP label. The methodology aims to finance the early closure of coal plants in countries reliant on them, replacing them with clean energy. The ICVCM also approved Equitable Earth's M001 methodology for terrestrial forest restoration.

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