ICROA, the International Carbon Reduction and Offset Alliance.
It is the self-regulation layer of the voluntary carbon market.
It was set up in 2008 to promote industry self-regulation through its own Code of Best Practices. It accredits best practice in carbon offsetting and gives quality assurance and guidance on carbon credits. It presents itself as an industry programme working for integrity in the voluntary carbon market in support of the Paris Agreement Goals. The record notes a chain of institutional transitions running from IETA to ICROA, but this does not show that IETA founded, funds, or governs ICROA.
It shows how a market can be governed by the businesses inside it, with the standards for what counts as a good carbon credit set by the industry rather than by public authorities.