IN FOCUS: Amy Merrill on the ICVCM and the Evolution of Carbon Markets Governance

In this episode of the Navigating Net Zero: In Focus mini-series on Developments in Climate Standards & Guidance, Alexia Kelly is joined by Amy Merrill, CEO of the Integrity Council for the Voluntary Carbon Market (ICVCM). Amy outlines how the independent governance body is creating an auditable, regulatory-style floor for credit quality through its Core Carbon Principles (CCPs). They unpack the mechanics of ICVCM's "double-tick" framework – evaluating both program governance and project-level quantification methodologies – to explain how 13 CCP-eligible programs representing 96% of the market are now providing comparable, high-integrity carbon credits to institutional buyers and corporate procurement teams. Highlights from the Discussion: The Mechanics of the "Double-Tick" Assessment: Amy breaks down how ICVCM evaluates carbon registries on governance, transparency, and grievance handling (Tick 1) alongside methodology-specific assessments of additionality, conservative baselines, and reversal risk (Tick 2). Pre-Market Conditioning and Governance Reform: How publishing strict threshold requirements has driven carbon crediting programs to proactively upgrade their internal governance and risk management frameworks before undergoing formal review. Continuous Improvement and the Rule Architecture: An inside look at how stakeholder-led Continuous Improvement Work Programs (CIWPs) and the new Rule Architecture allow the ICVCM to clarify, interpret, and deepen quality standards over time without stranding market investments.