The MRA Framework enables companies to substantiate a Carbon Integrity Claim. The Framework provides the information that must be disclosed and appropriately evaluated, evidenced, and verified.

The framework outlines the disclosure and assurance requirements for each of the key metrics to make a VCMI Claim in line with assurance providers, namely the International Auditing and Assurance Standards Board (IAASB), the American Institute of Certified Public Accountants (AICPA) and the International Organization for Standardization (ISO).

The VCMI Claim information, including their assurance report, must be submitted within nine months after the company’s financial year reporting period is completed. The VCMI Claim is valid for one year and is directly linked to the company's financial year reporting period, which it uses to make a VCMI Claim.

The requirements include alignment with other public disclosureinitiatives such as the Science Based Targets Initiative (SBTi), the Greenhouse Gas Protocol (GHG Protocol), the International Financial Reporting Standards (IFRS), the Global Reporting Initiative (GRI), the Taskforce for Climate Related Financial Disclosures (TCFD), the CDP Climate Change Questionnaire, the Sustainable Accounting Standards Board (SASB), the Corporate Sustainability Reporting Directive (CSRD), and EU Sustainability Reporting Standards (ESRS).

Check our analysis on how standardisation initiatives, such as the ESRS and CSRD, can lead to increased reliability in the market 

VCMI Claims Code requirements to align with other corresponding frameworks intend to build on and not duplicate existing benchmarks and corporate accountability frameworks.

The beta version allows limited use of high-quality carbon credits to close the gap between estimated and current scope 3 emissions. The final claim, expected by Q3 2024, permits covering half or less of scope 3 emissions, declining to zero by 2035 or within ten years., whichever comes first.

Future initiatives include clarifications for specific sectors, geographies, and smaller entities. VCMI plans to review target-setting landscapes, update the Claims Code with emerging standards, provide guidance on interim corporate accounting, and develop provisions for specific industries and geographies. Special guidance for financial institutions, additional VCMI Claims, and an independent review of the Claims Code's impact are also in the pipeline.

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The Voluntary Carbon Markets Integrity Initiative (VCMI) 

its Operational Claims Code of Practice on June 28th. The code outlines criteria for companies to make credible environmental claims, emphasising transparency in emissions reporting, net-zero commitments, and alignment with the goals of the Paris Agreement. It also clarifies the purchase and retirement of carbon credits, focusing on high-quality credits meeting specific standards. 

 provides a comprehensive overview of the VCMI Operational Claims Code of Practice and its key components.

the Early Adopters Program, encouraging the adoption of its Claims Code of Practice. Early adopters included Bain & Company, BCG, Better Drinks, Natura, and Sendle. The program runs from October to December 2023.

On Tuesday (28 Nov), VCMI released updates to the Initial Claims of Practice, including a Monitoring, Reporting, and Assurance (MRA) Framework, a branding and “mark” for "Carbon Integrity" claims, and a beta version of an additional "Scope 3 Flexibility" claim.

The four-step process, previously defined, remained unchanged:

01. Comply with the Foundational Criteria, which include:

Demonstrate public policy advocacy aligned with the Paris Agreement;

02. Select a VCMI Claim to make based on the purchase and retirement of high-quality carbon credits proportionate to the company's residual emissions:

Carbon Integrity Silver (≥ 10% and < 50%)

Carbon Integrity Gold (≥ 50% and < 100%)

03. Meet the required carbon credit use and quality threshold:

The ICVCM CCP-labelled credits, considered as the credits that meet the quality threshold, initially expected to receive certification in Q4 of this year, have been postponed to Q1 2024. In the meantime, companies can use CORSIA credits or credits from the due diligence processes that align with all 10 ICVCM’s CCP (read our latest analysis 

04. Obtain third-party assurance following the VCMI MRA Framework 