The voluntary carbon market (VCM) is currently undergoing a structural shift toward high-integrity assets, and a recent development in Nigeria marks a pivotal moment in this transition. For the first time, the US-based standard Verra has issued carbon credits for a clean cookstoves project that carries the Integrity Council for the Voluntary Carbon Market’s (ICVCM) Core Carbon Principles (CCP) quality label.
Photo courtesy of UpEnergy, the UpEnergy – Social and Climate Impact Programme – Nigeria (Verra Project 2673), Source: https://verra.org/verra-issues-first-ccp-labeled-clean-cooking-credits/
This label is intended to provide investors and sustainability officers with the assurance that carbon units meet rigorous benchmarks for transparency and environmental impact. The credits were generated under the VM0050 methodology, specifically from a project (VCS2673) developed by UpEnergy.
The core of the project involves a shift in local infrastructure, replacing inefficient charcoal stoves with modern, energy-efficient units manufactured within Nigeria. Beyond the social benefits, the environmental impact is substantial; the project is projected to curb over 1.6 million tonnes of CO2-equivalent annually.
Anantha Rajagopalan, Vice President at UpEnergy, highlighted the technical evolution behind this issuance: ‘This CCP-labelled issuance reflects the continued strengthening of methodologies, more precise impact measurement and increased conservativeness.’
Read more: Beyond tonnes: How carbon credit co-benefits elevate value
While this represents a first for Verra, the industry’s move toward CCP-labelled credits is gaining momentum across different registries. The Switzerland-based Gold Standard has already implemented similar labels for several projects:
- Somalia: 270,000 credits were issued last month from a joint venture between Key Carbon and Burn.
- Kenya: 82,000 CCP-approved credits were tagged in late 2024 for a project also under Global Cookstoves.
For the broader carbon space, this issuance signals that the ‘CCP-approved’ tag is becoming a valuable addition for project developers seeking to prove the validity of their environmental claims.
Read more: EU launches the first voluntary standard for carbon removals
Green Earth operates as an end-to-end project developer with full supply chain oversight. Our value lies in direct project control, so that the carbon assets we provide deliver measurable nature restoration and economic benefit to local communities. This approach allows us to deliver high-quality units that help partners reach their environmental goals through transparent, nature-positive projects.
