Setting the stage

• Welcome and intros
• Context for the next two days
   o What we’ll cover
   o How it fits into the ICVCM Continuous Improvement  Work Program
• Warm-up: Review permanence Parameters from pre-reading
• Norms and agenda review

Update on the latest science around the impact of carbon storage

In this session, we’ll cover the latest science on the impact of storing carbon on climate change (the timing, duration, and magnitude of that storage) to give attendees a shared understanding of how to consider the impact of different approaches to permanence on climate change.

We’ll specifically cover:

• What does the science say about the atmospheric impact on climate change for a ton of CO2 and a ton of other GHGs?
• What is the atmospheric impact of different durations of carbon reduction and removal/ storage?

Scene setter on various approaches to permanence in the market today

We’ll cover the different risks associated with different carbon project types, various approaches to addressing these risks over time, and which approaches are being used in the market today. This scene setter aims to help all attendees - regardless of their background in carbon markets - start with a shared understanding of the issue of permanence and how it's been addressed to date.

This session will specifically cover:

• Stratifying and assessing risk across project types and categories - ie. What are the different types of project risks? What causes the re-release of carbon and who owns that risk?
o Nature-based solutions
o Engineered carbon removals

DRAFT AND SUBJECT TO CHANGE

• Summary and history of different permanence approaches
o How they’ve been treated in the market to date
o Review of previous ICVCM discussions and research
• What approaches are being used in the market today and by whom?

Overview and discussion from existing standard-setting bodies

Standard-setting bodies have evolved their approaches to permanence over time. In this session, we’ll hear from representatives of the major standards bodies (Verra, ACR, CAR, Puro.Earth) on the following:

• How does your standard approach permanence?
• Why did you land on that approach?
• Did you consider other approaches?
• What outstanding questions are you grappling with?

Lightning presentations summarizing proposed novel, cutting-edge risk mitigation approaches

Various new approaches have been proposed to tackle on-going issues related to permanence. In this session, we’ll hear about different novel approaches, how they work, and what issues they seek to address.

Moving towards investment-grade asset classes/markets

In this session, we’ll cover:

• For carbon markets to scale to tens of billions of dollars, what needs to be true about carbon market contracts and risk mitigation so that these assets can be financially auditable and bankable?

The role of insurance in carbon markets

Insurance is increasingly viewed as a promising mechanism to deal with carbon project risk and impermanence. In this session we’ll cover:

• What is the status of different insurance products on the market today?

• What problems do they solve?

• What is needed for these mechanisms to be successful?

Group discussion and reflection

In this session, we’ll cover:

• What questions do these sessions bring up for you?
• What key permanence considerations or history did we not discuss?
• What trade-offs have you heard discussed or do you think the group will need to consider as it discusses alternative permanence approaches?

Overview of permanence and durability systems design exercise

• How will outputs from this exercise inform future ICVCM thinking?
• What is being asked of workshop attendees during the systems design exercise?