The International Carbon Registry (iCR) has announced a new integrity framework that will require all projects registered on its platform to receive both independent carbon project ratings and financial risk assessments.
Under the initiative, all projects entering the registry will be assessed using MSCI’s Carbon Project Ratings methodology and receive a risk evaluation from carbon insurance specialist Kita. The assessments will be made available through iCR’s website, with certain projects also eligible for insurance coverage.
The move makes iCR the first carbon registry to mandate both third-party ratings and financial-grade risk analysis across its entire project portfolio, according to the organization.
“For years, carbon credit buyers have been expected to carry out their own due diligence before buying,” said Oli Torfason, Chief Operating Officer at iCR. “On iCR, independent ratings and risk analysis are embedded directly into the registration process, not treated as optional add-ons.”
Aiming to improve transparency and buyer confidence
The framework is designed to provide project developers, investors, and carbon credit buyers with more consistent information on project quality and risk.
Under the new structure, MSCI will provide standardized ratings assessing factors such as additionality, permanence, and implementation quality. Kita will conduct financial-grade evaluations of delivery, performance, and permanence risks, while also offering optional insurance solutions for eligible projects.
According to iCR, the verifier, ratings provider, and risk assessor will all operate independently, maintaining a separation between project assurance, market evaluation, and registry governance.
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Gudmundur Sigbergsson, founder of iCR, said the addition of ratings and risk assessments creates an additional analytical layer on top of traditional validation and verification processes.
“Validation and verification confirms conformity, ratings help explain quality, and risk assessment helps the market understand delivery and permanence risk,” he said.
The initiative reflects a broader trend within voluntary carbon markets toward greater transparency, standardization, and risk management as buyers seek stronger assurances around project quality and credit integrity. Alongside the new assessments, iCR will continue to provide registry services through its blockchain-based platform, which tracks projects through issuance, transfer, and retirement.
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