ICVCM approves Verra coal plant closure, Equitable Earth forest restoration methodologies
The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved two new carbon-crediting methodologies under its Core Carbon Principles (CCPs) framework. Verra's VM0052, for the accelerated retirement of coal-fired power plants with a just transition, is the first energy-transition methodology to receive CCP approval. Equitable Earth's M001, for terrestrial forest restoration, also gained approval, marking the first such for its programme. Both methodologies must meet specific requirements for emissions accounting, permanence, and social safeguards, including provisions for workers and communities in coal plant closures and native ecosystems in forest restoration. Since March 2024, 13 programmes and 47 methodologies have been approved under the CCP framework, covering an estimated 120.7 million credits.
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