A first for GHG crediting programs
That's why every project on the registry carries an independent third-party rating and an insurance-grade risk assessment, so buyers and investors can compare quality, understand risk, and transact with confidence.
Why we built ratings and risk assessment into the project cycle
ICR is the first GHG crediting program to make independent ratings and insurance-grade risk assessment part of how every project moves through the registry — not a bolt-on or a third-party overlay. Here's why.
Separation of roles
The reason it matters most: those who validate and verify, those who rate, and those who assess risk are kept strictly distinct, so no single party marks its own homework and every opinion stays genuinely independent.
Better standardisation
A common rating and risk framework applied to every project means quality is measured the same way each time, making credits easier to compare and trust.
Comparability between projects
Independent, standardised ratings let projects be measured against one another on a like-for-like basis, so buyers can compare quality directly rather than reading each project in isolation.
See real MSCI ratings from the registry
Three projects on the registry, shown anonymously. Switch between them and expand any criterion to see the detail behind the headline rating.
| Criteria | Score | Risk level | Ranking | |
|---|---|---|---|---|
| Additionality | 4.0 | Low | Top 17% | |
| Quantification | 2.3 | High | Top 52% | |
| Permanence | 4.0 | Low | Top 42% | |
| Co-benefits | 3.7 | Medium | Top 19% | |
| Legal and ethical | 3.7 | Medium | Top 52% | |
| Delivery risk | 4.1 | Low | Top 56% | |
| Overall score | 3.3 | BBB | Coming soon |
Viewing public project ratings requires a Carbon Registry account, which is free.
Three independent layers, three independent parties
Conformity, quality and risk are each assessed by a different specialist, so no one marks their own homework.
Validation & Verification
Approved VVBsIndependent third-party validation and verification against the ISO 14064-2 and other program requirements. The conformity assessment that underpins registration and issuance.
View all registered VVBsIndependent project ratings
A globally recognised, independent rating of project quality. Includes headline rating plus a detailed report, published publicly so buyers and other stakeholders can gauge relative strength at a glance.
Insurance quality underwriting of project risk. Foundational to adjustment account contributions and insurance arrangements that back every credit, mitigating buyers risk.
Ratings and risk assessment run in parallel with the project cycle. They add transparency and risk insight, but a rating does not constitute a validation or verification opinion.
How the process works
Ratings and risk assessments are issued and updated at defined points across the project lifecycle. Follow the full process and the requirements behind every rating.
Project registration cycle (simplified)
MSCI · Kita
Rating & risk process starts
Rater · MSCI
Project design rating
Risk assessor · Kita
Risk assessment
*Validation and verification may occur simultaneously. Simplified view. See the full cycle and requirements below.
Validated by accredited bodies worldwide
Every project on the registry is validated and verified by an independent, accredited validation and verification body.
Frequently asked questions
Every project. Independently assured.
Create a free Carbon Registry account to explore projects, their validation/verification, ratings and risk assessment reports.
Creating an account is free.