A carbon credit is a certificate representing one metric ton of carbon dioxide equivalent that is either prevented from being emitted into the atmosphere (emissions avoidance/reduction) or removed from the atmosphere as the result of a carbon-reduction project. If, as is expected, carbon crediting programs widely agree to be assessed under the framework established by the ICVCM, the adoption and application of these principles by carbon crediting programs will bring greater uniformity to voluntary carbon market standards, and contribute to ensuring a high level of integrity in the market. Voluntary carbon credits are a very useful tool to help us reducing our carbon emissions.
Comparison of main carbon credits standard eligibility criterias
In order to provide clarity on the main carbon credits standards eligibility criterias, we created the following table to compare some majors standards with Riverse criterias.
We use the great work of The Nordic Dialogue on Voluntary Compensation, a coalition of nordics countries governmental institutions, on Clean Development Mechanism, Verified Carbon Standard by Verra, and The Gold Standard, and added Label Bas Carbone (France governmental standard) and Riverse for comparison.
We detailed below the definition of each criteria and how Riverse answers this criteria.
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Core Carbon Principles with carbon credits
Reality: an obvious carbon credit criteria
Definition: Carbon credits represent greenhouse gas emissions (GHG) already reduced, avoided or captured, in order to ensure each credit can be linked to a physical reality.
Riverse relevant credit carbon criteria :
Riverse Carbon Credits (RCCs) are guaranteed real, representing actual GHG emission reductions that are measured and verified against strict criteria. Projects must be tangible, either existing or planned with clear timelines and funding proofs, such as contracts for key inputs. They must operate precisely as described by Project Developers and comply with all regulatory and scope definitions in the Riverse Procedures Manual. This includes registering all sites involved in the RCCs' verification and issuance, and undergoing mandatory audits to confirm operational and project scale accuracy. Riverse Carbon Credits are issued ex-post, ensuring that each credit is backed by genuine, verified emission reductions. Continuous monitoring through Key Impact Indicators (KIIs), defined in the Monitoring Plan and verified by third-party entities, secures the credibility of each RCC issued
Measurability: a necessity for carbon credits to be computed and monitored
Definition: Carbon credits emissions is linked to a robust measurability, transparent, linked to available methodologies consistent with ISO 14064-2, for the calculation of both baseline and projects scenarios.
Riverse relevant criteria:
Riverse ensures that all GHG emission reductions are measured quantitatively, rigorously, and conservatively, adhering to the highest scientific standards. Our Project Developers are required to follow ISO 14064-2:2019 guidelines for measuring reductions, avoidance, or removal of GHG emissions, ensuring that each measurement is complete, accurate, transparent, and conservative. We adhere to the Riverse methodology tailored for GHG reduction quantification. In cases where no predefined Riverse methodology applies, Project Developers may propose a scientifically documented method, which must be evaluated and validated by our Climate team and verified by a third-party Verification Body (VVB). This approach ensures that all measurements are reproducible and meet international standards, reinforcing our commitment to robust and credible carbon accounting
Additionality: a complex carbon credit criteria
Definition: The project or measures to generate carbon credits would not have happened without the project finance, is not a regulatory requirement and is beyond business as usual or common practice;
Riverse relevant criteria:
Riverse's stringent additionality criterion ensures that each carbon credit catalyzes genuine climate action. To qualify, projects must demonstrate through rigorous analyses that their emission reductions surpass existing regulatory requirements and would not have occurred without carbon finance. This involves detailed regulatory surplus analysis, investment analysis to confirm financial necessity, and barrier analysis to address any technological, institutional, or financial hurdles. By mandating such thorough validation, Riverse guarantees that carbon credits fund substantial, additional environmental improvements, reinforcing the integrity and impact of climate finance
Permanence: a challenging carbon credit criteria
Definition: Where projects carry risk of reversal, adequate safeguards are implemented place to ensure that the risk of reversal is minimised, and that, if any reversal occurs, a mechanism is in place that guarantees the carbon credits will be replaced at equal price and environmental value.
Riverse relevant criteria: Permanence & Risk of Reversal
Riverse's permanence criteria are designed to guarantee the long-term impact of carbon sequestration and avoidance projects. We apply stringent measures to ensure the reliability of credited emission reductions. For all projects, a precautionary discount is applied to account for any risks of project non-delivery or failure. Specifically, capture projects are categorized by their storage duration: short-term (less than 50 years), medium-term (50 to 150 years), and long-term (over 150 years). This classification helps ensure that carbon credits are appropriately matched to the durability of the carbon storage, maintaining the integrity and sustainability of environmental benefits.
No double counting of carbon credits
Definition: Measures for avoiding double counting through the issuance and tracking of carbon credits that have unique serial numbers and are listed in a recognized public registry, and adequate procedures for the permanent retirement or cancellation of the carbon credits, which includes procedures for clear assignment of the credits to the entity claiming carbon neutrality;
Measures for addressing double claiming e.g. where the GHG emission reduction is claimed by more than one entity;
Riverse relevant criteria:
Riverse ensures that each carbon credit is unique and only counted once. This prevents the same emission reduction from being claimed by multiple entities or in different carbon registries. Each credit has a unique serial number, ensuring traceability and transparency from issuance to retirement.
Cobenefits: Enhancing Value Through Carbon Credit Standards
Definition: Projects must deliver additional environmental or social benefits beyond their primary objective of reducing greenhouse gas emissions. These co-benefits should be substantial, directly related to the project’s activities, and quantifiable, contributing positively to local communities or ecosystems.
Riverse relevant criteria:
Riverse ensure that every project demonstrate additional positive impacts beyond carbon reduction, aligning with environmental and social sustainability goals. These co-benefits should be quantifiable and verifiable, contributing meaningfully to at least two United Nations Sustainable Development Goals (SDGs).
Substitution Strategies in Carbon Credit Standards
Definition: Substitution refers to the replacement of high-emission products or services with lower-emission alternatives that provide equivalent or improved functionality. The goal is to ensure that new solutions do not merely add to existing options but effectively replace more harmful ones, reducing overall emissions.
Riverse relevant criteria:
At Riverse, project should replace higher-emission products or services with alternatives that offer similar or better performance with lower emissions. The substitution must be realistic and efficiently match or exceed the functions of the baseline scenario products/services.
Environmental and Social Do Not Harm Safeguards
Definition: Standard carbon credits methodology must put safeguards in place to prevent unintended environmental and social impacts, especially in development countries.
Riverse relevant criteria:
The project are required to prove that they do not cause significant environmental or social harm. This includes comprehensive risk assessments and stakeholder consultations to ensure that the project's impacts are net positive.
Leakage
Definition: Leakage is defined as the net change of anthropogenic emissions by sources of greenhouse gases (GHG) which occurs outside the project
Riverse relevant criteria:
Riverse ensure that projects address and mitigate any indirect transfer of emissions—known as leakage—that could occur outside the project's direct scope. This includes emissions that might be displaced geographically or to other stages in the product lifecycle.
TRL (Technology Readiness Level): A Crucial Evaluation Metric for mature carbon credits projects
Definition: Technology Readiness Level is a measure used to assess the maturity of a technology. The scale typically ranges from 1 (basic principles observed) to 9 (actual system proven in operational environment). This metric helps gauge how tested, reliable, and ready for deployment a technology is in a real-world setting.
Riverse relevant criteria:
The technology used in projects must be mature enough to ensure reliability and effectiveness. Riverse requires a minimum TRL of 6, indicating that the technology has been demonstrated in a relevant environment.
Targets Alignment: Aligning Targets Within Carbon Credit Standards
Definition: Projects should align with and contribute to established emissions reduction targets, whether sector-specific, regional, or global. This ensures that projects are not only effective on a local scale but also contribute meaningfully to broader climate goals and policy objectives.
Riverse relevant criteria:
Projects must align with sector-specific emission reduction targets, ensuring that they contribute to broader climate goals. The reductions achieved must be substantial and exceed baseline regulatory requirements or industry standards.
Minimum Impact Criteria in Carbon Credit Standards
Definition: Projects must achieve a minimum threshold of impact, quantifying the effectiveness of their contributions to greenhouse gas reductions. This criterion ensures that resources are used efficiently and that the projects provide a significant benefit relative to their scale and scope.
Riverse relevant criteria:
Projects must achieve a minimum threshold of impact, quantified as a specific amount of carbon dioxide equivalent reductions. This ensures that the project's scale and impact are significant enough to justify the administrative and verification efforts involved in issuing carbon credits.
