International Carbon Registry Announces Revised Process Requirements Update to Version 5.0

AV
Gudmundur Sigbergsson
Co-CEO
Published: 12:21 AM 7 Feb 2024

The International Carbon Registry (ICR) is pleased to announce the release of the latest update to ICR process requirements, now in version 5.0. This update reflects ICR's ongoing commitment to promoting environmental integrity, credibility, consistency, and transparency in the quantification, monitoring, reporting, validation, and verification of climate projects of all sizes. The new version 5.0 of the ICR process requirements introduces several enhancements and modifications designed to streamline processes, improve usability for project proponents and developers, and ensure the highest standards of environmental integrity are maintained. These changes are part of ICR’s efforts to adapt to the evolving needs of the carbon market and to support the development of innovative and effective climate solutions.

Key Updates

Version 5.0 Includes a better alignment with the ICR registry platform, alignment with version 5 of the ICR requirement document, processes to address reversal events, and non-performance of projects in addition to alignment with the recently published ICR validation and verification specifications. The ICR encourages all stakeholders, including project proponents, developers, validation/verification bodies (VVBs), and other partners, to familiarize themselves with the updated process requirements. The ICR team is committed to providing support and guidance to ensure a smooth transition to the new version for all users.

Transition from Version 4.0 to Version 5.0:

In conjunction with the release of version 5.0, ICR will be discontinuing version 4.0 of the ICR requirement document, which was revised in late 2023. Starting from 15th March 2024, all projects registered with the ICR will be required to use version 5.0 of the ICR requirement document. However, projects that have initiated validation before 15th March 2024 will have the option to continue relying on version 4.0 to complete their validation process. This transition policy is designed to ensure a smooth and equitable shift to the new version for all our stakeholders.

About the International Carbon Registry (ICR)

The International Carbon Registry (ICR) is a leading global platform for the registration, verification, and issuance of carbon credits. ICR supports climate action by providing a robust, transparent, and credible framework that enables the quantification and verification of greenhouse gas emission reductions and removals relying on ISO standards. Through its innovative approach and commitment to quality, ICR facilitates access to carbon markets for a wide range of climate solutions, contributing to the global transition to a low-carbon economy.

See the ICR process requirements v5.0 in ICR´s documentation.

For further information about the new process requirements or any other inquiries, please contact:

Guðmundur Sigbergsson Co-CEO [email protected]

Published: 12:21 AM 7 Feb 2024