Rainbow (formerly Riverse) has become the ninth program to be approved as CCP-Eligible, the Integrity Council for the Voluntary Carbon Market (ICVCM) announced recently. The approval applies to Rainbow Standard Rules v7 or later. This version incorporates strengthened provisions that were introduced in order to meet the CCP requirements. For example:
- Enhanced governance and independence: Clearer roles for governing bodies and advisory committees. Reinforced conflict-of-interest and oversight provisions, including for Validation and Verification Bodies (VVBs).
- More robust validation and verification: Tighter VVB accreditation, rotation, performance review, and sanctioning rules. Clearer audit and documentation requirements.
- Improved methodology and crediting integrity: Stronger rules on additionality, baselines, uncertainty, crediting periods, and renewals. Clear processes for methodology creation, revision, and discontinuation.
- Reinforced durability and safeguards: Enhanced reversal risk assessment, buffer pool rules, and cancellation procedures. Clearer environmental and social safeguard, stakeholder engagement, and Free Prior and Informed Consent (FPIC) requirements.
- Greater registry transparency: Expanded public disclosure of project documentation, credit status, and labels. Improved registry controls, traceability, and IT security.
- Stronger double counting controls: Clarified prohibitions on double issuance, double use, and double claiming.
CCP-Eligible status means that programs have demonstrated that they meet the rigorous criteria of the Core Carbon Principles (CCPs) Assessment Framework for effective governance, tracking, transparency and robust independent third-party validation and verification. They have also met the program-related rules in the CCP Assessment Framework on robust quantification of emission reductions and removals, no double counting and sustainable development benefits and safeguards.
Headquartered in France, Rainbow has over 80 registered projects, with a portfolio that includes:
- Biochar
- Mineralization of alkaline materials
- Enhanced rock weathering
- Biomass carbon removal and storage
- Bio-based construction materials
- Biogas from anaerobic digestion
- Electronic devices refurbishment
Now that Rainbow is CCP-Eligible, its methodologies can be assessed, in line with the ICVCM’s two-tick assessment process. Only credits issued using CCP-Approved methodologies and version v7 or later of Rainbow’s Standard will be able to receive the CCP-label.
Ludovic Chatoux, Co-founder & CEO, Rainbow said: “We’re proud to receive ICVCM approval. The recognition validates our vision: that high-integrity carbon markets require scientific rigour, field engineering expertise, and operational excellence. For the partners who work with Rainbow, this approval confirms what we’ve built together: a standard that meets the market’s highest integrity thresholdbenchmarks. Frameworks like ICVCM are essential for building market credibility at scale. This recognition strengthens our position while keeping us focused on what matters: delivering efficient, high-quality certification for the technologies driving real carbon removal.”
Annette Nazareth, Chair of the Integrity Council for the Voluntary Carbon Market, said: “Rainbow joins the growing list of carbon crediting programs that have embraced the Core Carbon Principles as the global reference point for quality by strengthening their governance and program standards to meet the CCP threshold. We applaud their commitment and warmly welcome them as a CCP-Eligible program.”
Rainbow applied to CORSIA (under its former company name, Riverse) using version 5 of their standard and were considered partially consistent by CORSIA at that time and invited to reapply. Rainbow was therefore assessed on ICVCM’s non-CORSIA pathway, which requires programs to submit all relevant information so that ICVCM can assess the requirements of CORSIA rules as well as ICVCM’s Assessment Framework.