In response to criticism directed at certain carbon credit projects, the International Carbon Voluntary Carbon Market (ICVCM) has taken a proactive stance by introducing the Core Carbon Principles (CCPs). These principles establish stringent criteria aimed at ensuring the integrity of carbon-crediting programs. Through succinct and precise definitions, the CCPs delineate what constitutes “good” practice across ten key principles, encompassing governance, emissions impact, and sustainable development. Thus far, five programs, namely ACR, Climate Action Reserve (CAR), Gold Standard, ART, and VERRA, have now been endorsed as meeting these rigorous standards.
At HeavyFinance, we uphold an unwavering commitment to excellence, aligning our project development process closely with the CCPs. Central to our approach is the fundamental principle that farmer participation should be voluntary and that farmers should play an active and integral role in both the design and implementation of projects. This ethos not only fosters robust local governance structures but also ensures the enduring sequestration of carbon. By prioritising the concerns, objectives, and challenges of farmers, we mitigate potential drawbacks and minimise the risk of reverting to conventional or exploitative farming practices.
Furthermore, our projects adhere to the VM0042 methodology from VERRA, which sets forth stringent protocols to ensure transparency and accountability. Through a public registry and third-party validation and verification procedures, this methodology guarantees robust quantification of carbon sequestration. It is important to note that this methodology measures carbon credits sequestered above and beyond business-as-usual scenarios, thereby incentivizing additional carbon capture that would not have occurred without project implementation.
Beyond carbon sequestration, our projects are designed to enhance soil health while providing farmers with financial empowerment and access to cutting-edge scientific expertise. In doing so, we are aligned with ten of the United Nations’s Sustainable Development Goals (SDGs), offering a holistic approach that contributes to broader social and environmental objectives. The carbon credits we issue adhere to the highest quality standards, enabling companies to make meaningful strides towards a net-zero transition while supporting sustainable development initiatives.