Under ICR, emission mitigation projects worldwide can register and issue carbon credits based on projected and real mitigation outcomes from their projects. Projects can be emission reduction/avoidance, sequestering, or removal. Innovation in methodology and solutions is strongly promoted. Registered project issue International Carbon Credits (ICCs) that are transferable carbon credits and can be used by organizations to meet a part of their Net-Zero targets. The end ambition of ICR is to provide a platform for both climate projects, market participants, and end-users of carbon credits to support scaling of voluntary carbon markets and climate actions and to for transparent statements of Net-Zero or Carbon Neutral claims.
It is crucial to support the investments required to deliver the 1.5-degree pathway. The voluntary carbon market volume needs to grow by up to 15 times by 2030 while simultaneously enhancing the integrity of the underlying carbon credits. The mission of ICR through its program is to drive billions of dollars from those hard to abate sectors and emitting carbon to those removing carbon or preventing its emission over the next 30 years. For finance to flow to the right projects, a well-functioning voluntary carbon market with robust and high integrity quality standards is needed, which ICR delivers.
ICR delivers the future of carbon offsetting and climate actions with robust and high integrity quality ICR standards and processes.
To achieve the long-term goal of the Paris Agreement, organizations in every sector must unite in decarbonizing operations and value chains. Carbon credits, purchased voluntarily, enable organizations to compensate for residual emissions by financing reduction of emissions from other sources or removing greenhouse gases from the atmosphere transparently and effectively.
ICR is based in Iceland and relies on the experience of Iceland’s transition from fossil fuels in the 20th century to inspire other countries to increase their share of renewable energy and decarbonization of the economy. ICR provides the platform to scale climate actions in order to decarbonize the economy with a GHG Program and a state-of-the-art electronic registry platform.
How it Works
Projects that register with ICR must conform to a comprehensive and robust set of requirements to register and issue carbon credits (ICCs). Organizations using ICCs for offsetting their emissions retire their ICCs with traceable and accountable registration in the registry.