A carbon credit can fall under one of the following categories:
- Verified: the impact has occurred and has been thoroughly verified, making the credit ready for usage.
- Purchased: the carbon credit has been bought but has not yet been used.
- Claimed: the carbon credit has been associated with a company's activity and can no longer be used.
- Cancelled: the carbon credit has been verified but is no longer available (e.g., due to a forest fire). It can no longer be used, and the Standard's provision pool should replace it in case of sales.
- Pre-verified: some Standards allow pre-sales or offtake agreements of future verified credits to facilitate funding for high-CAPEX projects.