We’ve waded through the jargon to give you a snapshot understanding of the next acronym that you can digest over a morning coffee. ☕️
You may have seen the acronym ‘CCP’ – but what does it stand for, and what does it mean? Unfortunately, there are no gold stars for guessing that one of the C’s stands for Carbon! CCP stands for Core Carbon Principles.
You may recall in our last acronym series we explored the The Integrity Council for the Voluntary Carbon Market (ICVCM). The ICVCM is focused on the quality of credits against the criteria such as additionality and permanence. This ensures that the carbon credits types and the methods they stem from are credible. This is designed to monitor integrity at the supply end.
The CCP is a framework developed by the ICVCM that carbon programs such as Gold Standard and Verra can seek to have their carbon credits approved under. To be approved, carbon credits must come from project activities that meet certain integrity requirements, such as:
- Contributing with a transition to net-zero (i.e. not locking in GHG emissions that are incompatible with achieving net zero)
- Permanent (reduction or removals should be permanent, or where there is risk, there are measures in place to limit that risk)
- Additionality (the activity can’t have occurred in the absence the incentive of carbon revenue)
- Robust quantification, validation and verification of reductions or removals (approaches should be quantifiable, repeatable, conservative, and based on established science).
The CCP framework provides a credible tool to recognise high-integrity carbon credits. This gives carbon programs a standard to strive for, and gives buyers guidance to invest in the carbon market confidently – in turn, raising the bar on effective climate action.
Through its in-built Offsets Integrity Standards, the ACCU Scheme is largely consistent with the CCPs. There are some elements that do not align directly with the prescribed detail within the CCP. As the CCPs have only recently been released, we anticipate an ‘ironing-out’ period with further industry group engagement as the ICVCM establishes how to best address jurisdictional carbon programs.
Ready to find out more?
Explore our range of educational resources in our Carbon Farming Education Hub where we frequently publish educational articles, webinars, and guidebooks.
When you’re ready to explore the feasibility of undertaking a carbon project on your property, email us at hello@carbonfarming.org.au or give us a bell at (08) 6835 1140 to be connected with one of our project facilitators.
