Ecobiz.asia – The Integrity Council for the Voluntary Carbon Market (ICVCM) has approved two carbon crediting methodologies developed by Verra and Equitable Earth, covering the accelerated retirement of coal-fired power plants and terrestrial forest restoration, under its Core Carbon Principles (CCPs).
In a statement on Tuesday (Nov. 3, 2026), the ICVCM said both methodologies had met the requirements of its CCP Assessment Framework, which sets quality standards for carbon credits in the voluntary carbon market.
The first approved methodology, Verra’s VM0052, Accelerated Retirement of Coal-Fired Power Plants Using a Just Transition v1.1, applies to projects that quantify greenhouse gas emission reductions from the early retirement of financially viable, grid-connected coal-fired power plants. The projects must be paired with renewable electricity capacity to partially or fully replace the retired plants’ generation.
The methodology also addresses the potential social and economic impacts of early coal plant closures, including job and livelihood losses among workers, their households and contractors, as well as effects on surrounding communities and local economies.
The ICVCM said VM0052 met the relevant CCP requirements following amendments to several key provisions. These include stronger measures to identify and manage conflicts of interest between system operators and project developers, robust assessments to ensure grid stability, and requirements for renewable energy replacement milestones to be achieved on schedule. Carbon credit issuance must be paused if the milestones are not met.
The second approval covers Equitable Earth’s M001, Methodology for Terrestrial Forest Restoration v1.3. It is the first methodology under the Equitable Earth program to receive CCP approval.
The methodology applies to afforestation, reforestation and revegetation projects involving the restoration of degraded forest landscapes and assisted natural regeneration. It requires the use of native species and promotes the recovery of habitats for native and threatened biodiversity.
Projects under the methodology are prohibited from engaging in commercial timber production and harvesting. They must also involve Indigenous Peoples and local communities as key stakeholders and provide tangible livelihood benefits throughout the project period.
The ICVCM assessment found that M001 met relevant requirements covering additionality, permanence and robust quantification of carbon benefits.
The approvals add to the ICVCM’s efforts to establish a global quality threshold for voluntary carbon credits through its CCP label, intended to help buyers identify credits that meet its standards.
Since issuing its first program-level decisions in March 2024, the ICVCM has approved 13 carbon-crediting programs as CCP-eligible. Its Governing Board has also approved 47 methodologies since beginning category-level decisions in May 2024.
An estimated 120.7 million carbon credits have been approved to carry the CCP label, according to data from MSCI accessed on Oct. 22, 2026. ***
