Calyx Global Newsletter: January Edition

Welcome to the Calyx Global newsletter. In this first edition of 2025, we welcome a new year and new opportunities for improvement and refinement across the voluntary carbon markets. Read on to learn about what we have been up to this month:

Project-level environmental and social risks arrive on the Calyx Global Platform

Last month, we gave carbon subscribers unprecedented and comprehensive visibility into the environmental and social risks of carbon projects. Analysis looks at 10 safeguard areas and includes how projects perform on factors such as labor and land rights, and health and safety, among others. Learn more about this new feature on the Calyx Global Platform.

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Now screening carbon crediting programs

Our new carbon crediting program assessments allow Calyx Global subscribers to home in on quality projects and credits more efficiently. Screenings use 31 criteria encompassing areas such as governance, transparency, auditing procedures and registry operations. We've assessed 11 carbon crediting programs so far. Read about carbon crediting programs and our assessment process below.

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ICVCM CCP label tracker

As the ICVCM shares what is eligible for its CCP label, there is seemingly a sea of project categories, crediting programs and methodologies to sift through. Finding quality analysis with each new announcement can be even harder. That’s why we’ve made it simple to keep track of all of ICVCM’s decisions alongside our expert deep dives in this always-up-to-date ICVCM CCP label Tracker. Check back for updates and keep an eye on LinkedIn for tracker addition announcements.

View the tracker

The ICVCM gray zone

The third leg of the ICVCM stool this month is our assessment of where CCP label attribution might not be entirely clear. For buyers, it may be difficult to differentiate when credits appearing to be CCP eligible actually are, or when crediting programs could contain mislabeled credits. Yet another tracker breaks down where we’ve found the ICVCM could offer further clarification.

See our findings

The ICVCM Core Carbon Principle label explained

The ICVCM is approving crediting programs and carbon credit categories for CCP labels. The ICVCM follows a multi-step process meant to result in labels for high quality carbon credits. But, it can be complex. It’s helpful to understand just how the sausage is made. This guide breaks their approach down into a bite-size chunk.

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Webinar: 5 ways to minimize environmental and social risk

Are you a carbon credit buyer or investor who wants to learn how to protect ecosystems and communities involved in carbon projects? Join Nando’s Colin Hill, Verra’s Sinclair Vincent, Carbon Market Watch’s Lindsay Otis Nilles, and Calyx Global’s Linda Rivera Macedo as they provide tips for minimizing risk and maximizing impact in your investments. Register now:

2024 project roundup

2024 was a year in which we continued our mission to capture the most complete snapshot of carbon credit quality available. Calyx Global added 201 new project ratings in 2024, more than any other ratings agency. These ratings came from 16 unique project types.?

Click below to see our current ratings distribution as the new year begins:

Closing thoughts?

It’s a new year and many are left wondering what it will bring for the voluntary carbon market (VCM) after a somewhat tumultuous 2024. Issuances continued their downward trajectory while retirements were essentially flat. Many governments are also moving to the right, away from robust climate action. What does this portend for 2025?

I wish I had a crystal ball. I do not, but I certainly have a wish list.?

My first wish is that more companies take voluntary climate action. This is a big ask – because it is much better to have a price on carbon that levels the playing field. But we’re not going to get that any time soon. Also, taking action invites scrutiny. Action taken imperfectly creates more titillating headlines than no action at all. NGOs and the media go after companies who make a mistake when calculating their carbon footprint or accidentally buy the wrong carbon credit. This criticism is problematic because it only serves to discourage companies from taking action, when we will desperately need it in the coming years.

Therefore, my second wish is for civil society and the media to play a constructive role in the new year. There is a time and place to call out companies who are greenwashing. But, we also need to praise those who are going above and beyond in their climate initiatives. And perhaps highlight those who are on the sidelines and encourage them to enter the tent, rather than go after those trying to take positive action but perhaps making mistakes along the way.

My third and final wish is that #WereStillIn, or some similar movement, is revived. We need a groundswell of new climate action in the United States, since federal policy (ideally a price on carbon) is off the table for now. I have been working on climate change for over 20 years. Sometimes, it can be discouraging. However, we can still accomplish something meaningful in these next four years.?

We need every possible action, not only to reduce carbon emissions but also to build the necessary constituencies for future climate policy. I, for one, am ready to get back to work in 2025. In other words, I’m still in.

? ? ? ? -Donna Lee, Co-founder, Calyx Global

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