Value of carbon credits purchased by the organization during the reporting period.
Organizations should footnote relevant details on the carbon credits purchased. See usage guidance for further information.
This metric is intended to capture the equivalent monetary value of the carbon credits purchased during the reporting period. Organizations are encouraged to report this metric in conjunction with Greenhouse Gas Emissions Avoided Due to Carbon Offsets Purchased (OI6774).
Examples of relevant details to footnote include whether the carbon offset was purchased through an offset market or through a specific offset project. If the carbon offset was purchased in an offset market, additional relevant details to footnote include information on the carbon offset market in which the organization purchased the credit(s), whether the carbon market is a compliance or voluntary market, and the unique identification number and third-party registry for the purchased carbon credit(s). If the carbon offset is purchased through a specific offset project, additional relevant details to footnote include what baseline was used for the calculation, evidence that the project would not have been undertaken without carbon offset expenditures, and whether the funds were directed towards the project's capital expenditures or other uses (e.g., maintenance). Organizations can refer to the glossary for additional information on carbon credits.
In some contexts, this metric can serve as an indicator of whether the outcome being sought by an investor or organization is occurring (the WHAT dimension of impact). For more on the alignment of IRIS metrics to the five dimensions of impact, see IRIS+ and the Five Dimensions of Impact (https://iris.thegiin.org/document/iris-and-the-five-dimensions/). No single metric is sufficient to understand an impact; rather, metrics are selected as a set across all dimensions of impact. When possible, the selection of metrics to measure and describe the five dimensions should be based on best practice and evidence.
June 2022 - IRIS v5.3 Released (current version)
Immaterial change. Minor revision to usage guidance for clarity.
January 2020 - IRIS v5.1 Released
No change.
May 2019 - IRIS v5.0 Released
No change.
March 2016 - IRIS v4.0 Released
New metric. Value of Carbon Credits Purchased (OI2436) was developed via the IRIS Taxonomy Group.
IRIS Metrics Work Better in Sets
To use IRIS metrics—and the resulting data—to understand impact performance, IRIS metrics should be used and analyzed in generally accepted sets and according to well-defined objectives. IRIS+ gives you access to generally accepted Core Metrics Sets aligned to common Impact Themes and Sustainable Development Goals (SDGs).