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Requirements

For the carbon market to function, there must be a transparent set of requirements that provides consistensy in its application. for climate projects who want to be registered as an ICR climate project need to conform to the ICR requirements.

The requirements structure the principles emerged under the UNFCCC Clean Development Mechanism. ICR principles are the same but further rely on ISO Standards. All climate projects need to be validated, and their climate impacts verified by an approved accredited validation and verification body, to be eligible for registration and issuance of carbon credits. The ICR requirements are available here.

01


Baseline

The baseline scenario or the reference case for the project activity (hypothetical conservative description of what would have most likely occurred in the absence of any considerations about climate change mitigation) must be considered.

02


Additionality

All climate projects registered with ICR must be cdditional that is they would unlikely be implemented if not for financing from carbon markets or that their support could significally accelerate their penetration.

03


Quantification

GHG emission mitigations achieved by the project activity lay the foundation for the volume of ICCs that can be issued and measurements of real mitigations set the basis for activation of ICCs and issuance of remaining ICCs from validation

04


Permanence

Permanence is vital for future results. All projects involving removal fo CO2 nedd to deposit ICCs to an adjustment account which has the role of meet possible reversal events.

05


Monitoring

The impacts of project activities must be monitored in order to determine net GHG benefits and for the purpose of activating ICCs that have been issued.

06


Validation & Verification

All projects are subject to validation of projects and verification of their impacts. When projects have been validated ICCs may be issued partially (with limitation) and when impacts have been verified ICCs are activated and remaining ICCs may be issued and activated. Only active ICCs can be used for retirements and offsetting emissions.

07


Consistency

ICR provides templates for the project development, monitoring reporting, validation, verification, agreements, etc. All climate projects must use these templates in order to provide consistency within ICR.