What does ICROA stand for?
International Carbon Reduction and Offset Alliance
What is the purpose of ICROA?
ICORA is a nonprofit organisation promoting certified carbon offsetting and reduction initiatives. ICROA works to improve the quality, transparency and integrity of carbon offset projects worldwide and to provide a platform for collaboration and sharing knowledge between its members.
Who are ICROA members?
ICROA members include a range of global organisations, including businesses, academic institutions, charities and government organisations. Examples of members include Microsoft, World Resources Institute, the Nature Conservancy, EcoAct, WWF, and the Climate Action Reserve.
What are the ICROA objectives?
ICROA promotes responsible corporate climate action by establishing a framework based on the following:
- The integrity of carbon credit usage: setting a standard for emissions reductions to align with the Paris Agreement.
- Quality carbon credit supply: promoting high-quality carbon credits through an international standard that ICROA has set out to align with the UN’s SDGs.
- The impact created to increase ambition: promote carbon financing as a compelling and legitimate tool for businesses and individuals.
How does ICROA help reduce global carbon emissions?
ICROA achieves their goals and objectives through three paths:
- Accreditation program: Organisations providing an offsetting carbon service can join the ICROA Accreditation Programme, which sets a high standard for emission reductions and carbon credits. By becoming a member of IETA and undergoing an annual independent audit, members can proudly use the ICROA Accreditation Label, a symbol of integrity and legitimacy.
- A platform for advocacy and innovation:
- ICROA initiates working groups as an active and interactive place where groups can agree on opinions and increase their understanding of the offsetting industry.
- ICROA hold interactive events to progress the voluntary carbon market (VCM) by tackling the most critical matters and promoting innovation amongst members.
- Facilitating carbon finance: ICROA encourages carbon finance by connecting buyers to countries so that they can achieve their Nationally Determined Contributions as a part of the Paris Agreement.
What is the ICROA Code of Best Practice?
The ICROA Code of Best Practice outlines international carbon reduction standards and is the minimum requirement for all members. The code includes the following principles:
- To work transparently and with integrity in all carbon offset and reduction actions.
- To ensure that all carbon offset and reduction projects are verifiable and meet the highest scientific accuracy and environmental integrity standards.
- Ensure all carbon offset and reduction activities are conducted responsibly, ethically, and sustainably.
- Ensure that all carbon offset and reduction projects are reviewed and verified independently.
- Ensure all carbon offset and reduction activities are conducted per applicable laws and regulations.
- To ensure that all carbon offset and reduction projects are conducted to respect the rights of communities, including Indigenous people.
- To ensure that such information is up-to-date.
- Ensure that all carbon offset and reduction activities are conducted in a manner that is consistent with the UNFCCC Principles and Guidelines.
- To ensure that all carbon offset and reduction activities are conducted consistently with the Paris Agreement's requirements.
What is the ICROA accreditation label?
ICROA has developed a Quality Assurance Label, which serves as an assurance and accreditation mark for carbon offset projects and providers. The label is designed to help consumers and businesses identify offset projects that adhere to quality standards and criteria.
What is ICROA's accreditation process?
- Be a part of the IETA (International Emissions Trading Association) to fast-track the ICROA credential process. IETA
- Non-IETA should express their interest via the ICROA website and fill out the application.
- The eligibility is met, and the fee is paid. Fees range from $8,500 - $26,000, depending on the organisation's size. More information on the fees can be found on their expression of interest document.
- The organisation gets a third-party verification to comply with the best code of practice.
- The company can now be verified by ICROA but must pass the audit each year.
What is the ICROA's policy on the quality of carbon offset projects?
The ICROA has adopted a Quality Assurance Standard, which outlines the minimum requirements for the quality of carbon offset projects. This standard covers all aspects of project development, including project design, monitoring, and verification. The standard is intended to ensure that the carbon credits generated from projects are real, measurable, and verifiable. The policy requires credits in projects to be:
- Independently verified
Very similarly, the NZ government’s Guidance for Voluntary Carbon Offsetting states that credit must be:
- Not double counted
- Address leakage
What is the difference between ICROA and other carbon offset organisations?
ICROA differs from other carbon offset organisations because it is the only one specifically focused on certifying and verifying carbon offsets. It has established a comprehensive set of international standards and best practices to ensure that all carbon offset projects meet the highest environmental integrity and quality levels.
What are the benefits of ICROA?
- Reduced carbon emissions: ICROA provides a platform for businesses and organisations to reduce their carbon emissions through its carbon reduction and offsetting activities.
- Improved corporate image: Organisations that demonstrate their commitment to reducing their carbon footprint can benefit from a positive public image associated with being an ICROA member.
- Increased Awareness: ICROA's activities can help raise awareness of climate change and encourage society to act.
- Support for renewable energy: ICROA helps promote using renewable energy sources to reduce emissions.
- Access to carbon offsetting projects: ICROA provides access to reliable carbon offsetting projects worldwide.
- Guidance and support: ICROA provides guidance and support to businesses and organisations in reducing and offsetting carbon.
- Transparent reporting: ICROA provides independent, third-party verification of carbon offsetting projects to ensure they meet their stated objectives.
- Carbon Neutral Certification: ICROA offers carbon neutrality certification, enabling businesses and organisations to demonstrate their commitment to reducing carbon footprints.
ICROA provides a much-needed international standard for carbon offsets that can be recognised globally, an essential part of the global effort to reduce carbon emissions. ICROA helps countries and businesses take legitimate steps to reduce their environmental impact with verified projects. The ICROA can help create a more sustainable future with continued support and international cooperation.