コアカーボン原則とカーボンクレジット格付けの解説
専門家の視点
ICVCMのコアカーボン原則（CCP）とカーボンクレジット格付けは、同じカーボンクレジット市場の質を高める道具でありながら、作用するレイヤーと時間軸が明確に異なります。CCPは制度や方法論という「枠組み」の事前審査であり、評定機関は個別プロジェクトの「実績」を事後的に評価する立場です。この二層構造は一見すると理想的ですが、大きな実体と物語のズレが潜んでいます。CCPラベルが付いたプロジェクトの76％がBBB以上である一方、非CCPプロジェクトではわずか13％という数字は、CCPが優良なプロジェクトを選別しているというより、CCPの審査基準自体が格付け機関の高評価と強い相関を持つプロジェクトに適合していることを示しています。つまり、CCPは新たな市場の質を引き上げる仕組みというよりも、すでに高評価を得ているプロジェクトを追認する装置になっているという構造です。このズレの核心は、CCPが「閾値」を設けたことで、その閾値を超えない非CCPプロジェクトが市場から排除されていく期待先行のリスクです。
Latest posts Core Carbon Principles and Carbon Credit Ratings: complementary tools for a maturing market Written by ICVCM Published 14th July 2026 Linkedin Social Link Twitter Social Link Facebook Social Link The Core Carbon Principles (CCPs) and carbon credit ratings play different but complementary roles in strengthening integrity, confidence and transparency in carbon markets. The CCPs establish a common, independent threshold for carbon credit quality to ratchet up ambition at a systemic level. The Integrity Council assesses whether the rules, governance structures and methodologies used to generate credits meet science-based requirements for high-integrity carbon credits. In doing so, the CCPs drive systemic improvements across the market by raising the quality of program governance and methodologies, and thus, all the projects that use them. Ratings agencies assess quality at a project-level pre- and post-issuance. While there are differences in analytical approach, carbon ratings typically focus on additionality, carbon accounting, and permanence risks and they publish their own ratings methodologies. Many agencies also include beyond carbon analysis, delivery risk, and other specific project characteristics that may be relevant to buyer preferences and procurement decisions. Ratings agencies include companies like BeZero Carbon, Calyx Global, MSCI, and Sylvera, and they typically use an eight-point scale of AAA-D to denote a range of outcomes, rather than a binary threshold. According to Sylvera’s online platform, across every year analysed from 2021 to 2026, CCP-labelled projects consistently achieve higher independent ratings than non-CCP projects. In 2026, 76% of CCP projects were rated BBB or above, compared with just 13% of non-CCP projects, highlighting the strong alignment between CCP eligibility and higher-quality project performance. Together, CCPs and ratings create robust supply-side integrity. The CCPs set an ex-ante threshold: “Does this crediti
本文は配信元の記事から取得した抜粋です。
配信元の記事を読む →