Study Reveals Ineffectiveness of Some ICVCM-Approved Carbon Offsets

A study by CarbonPlan has uncovered concerns about the environmental efficacy of certain carbon offsets approved by ICVCM, with findings showing shortcomings in meeting crucial criteria. This raises questions about the effectiveness of ICVCM's measures to prevent greenwashing by companies.

Study Finds Some Approved Carbon Offsets May Be Ineffective

A recent study by watchdog group CarbonPlan suggests that some carbon offsets approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) may be environmentally ineffective. This raises concerns about the efficacy of ICVCM's efforts to enhance the quality of carbon credits and help companies avoid greenwashing.

The study focused on landfill-based methane capture projects that received ICVCM's Core Carbon Principles (CCP) label. CarbonPlan found that six out of 14 projects examined did not meet the "additionality" criterion, which measures whether generated funds led to changes that wouldn't have occurred otherwise.

One highlighted project was the Resource Recovery Landfill in Cherryvale, Kansas. This project captures methane, converting it to less potent carbon dioxide and water. Though the project issued carbon credits from 2006 to 2011, it resumed this in 2022 despite being financially viable without carbon financing.

Amy Merrill, ICVCM’s CEO, stated that the group aims to supervise CCP-labelled markets to ensure compliance with their rules, including additionality. However, Craig Ebert from Climate Action Reserve (CAR), which monitors Resource Recovery, defended the practice of generating offsets long after initial financial viability.

Criticism has emerged over ICVCM's approach, with some stakeholders questioning whether high-level guidelines are sufficient to eliminate low-quality offsets. The ICVCM is currently reviewing more categories of credits, with an aim to cover around 50% of the market.

CarbonPlan's findings emphasize potential shortcomings in the current standards, advising market participants to temper expectations regarding the quality of ICVCM-assessed credits.