🧱Fundamentals

Introduction

ICR is a pioneer in progressing the voluntary carbon market space by implementing a standardized, impartial, and neutral approach to prominent climate solutions.

ICR aligns registration requirements with the globally recognized and rigorous ISO 14064-2 standard. This allows project proponents to concentrate on developing their projects following ICR's requirements and ISO 14064-2, as well as any essential tools, without encountering constraints caused by a slow approval process. Our conviction is founded on the fact that ISO standards are industry-accepted best practices created by experts in the field, and represent the most effective way to conduct business. The ISO 14064 standards ensure clarity and consistency in measuring, monitoring, reporting, validating, and verifying emissions reductions, promoting sustainable development through a low-carbon economy, and benefiting organizations, project proponents, and interested parties globally. We have incorporated the ISO 14064-2 standard into our requirements. This standard is GHG program neutral and offers a comprehensive approach to quantifying, monitoring, and reporting GHG emissions at the project level with the aim of reducing or removing emissions. ISO 14064-2 includes essential elements such as planning a GHG project, identifying relevant GHG sources, sinks, and reservoirs, monitoring, quantifying, documenting, reporting project performance, and managing data quality. Climate projects worldwide may be registered under ICR, and carbon credits may be issued. The registered projects may be of two types: emission reduction/avoidance or sequestration/removal, and innovation and new climate solutions are highly encouraged. The registered projects issue International Carbon Credits (ICCs), which are transferable carbon credits that organizations may use to fulfill their climate goals as part of their compensation strategies and targets.

Principles

Measurable

Clear and consistent methods for measuring GHG emissions or mitigations with application of ISO 14064-2. This includes defining the project boundary, setting a baseline, and monitoring.

Valdiation and verification

Independent validation of project and verification of emission mitigation, to ensure the accuracy and reliability of reported emissions mitigation.

Transparency and traceability

Open and transparent reporting on GHG emissions mitigations including clear and easily accessible information on quantification, calculations, and reporting processes.

Credible

With robust program requirements, rigorous validation and verification, and clear and consistent reporting. ICR demonstrates it’s credible and trustworthy to all stakeholders.

Comprehensive

Covering all GHGs and all significant sources of GHG emissions to ensure that no significant emissions are left unaddressed.

Additional

supporting projects that result in additional emissions reductions, over and above what would have happened without the project with benchmarking of additionality.

Cost-effective

Minimizing costs of reducing GHG emissions and maximize the benefits of reducing emissions.

Flexibility

Designed to allow for flexibility in how emissions mitigations are achieved, allowing for a range of technologies or strategies to be employed.