Risk-based, transparent, universal carbon credit ratings

The BeZero Carbon Rating (BCR) of voluntary carbon credits represent BeZero Carbon’s current opinion on the likelihood that a given credit achieves a tonne of CO2e avoided or removed.


BeZero Carbon Ratings scale

The BeZero Carbon Rating is conveyed using a seven point alphabetic scale across three categories.


The credit issued by the project has a high likelihood of achieving 1 tonne of CO2e avoidance or removal.


The credit issued by the project has a moderate likelihood of achieving 1 tonne of CO2e avoidance or removal.


The credit issued by the project has a low likelihood of achieving 1 tonne of CO2e avoidance or removal.

BeZero Carbon may apply '+' (plus) or '-' (minus) signs for 'AAA' and 'AA' ratings to reflect comparative standing within the category.

Search our ratings

Our ratings are open for everyone to search. See the headline letter ratings for over 225 projects around the world.

Qualifying criteria

Projects must fulfil the following criteria to be eligible for a BeZero Carbon Rating.

  • The project must have applied an additionality test or provide sufficient information on how it is deemed additional.

  • The project must be audited by a recognised third party auditor in order to ensure the robustness of the data and information published.

  • Sufficient information on the design and ongoing monitoring of the project must be available in the public domain at all times. Non-public information will not be considered.

Ratings process

Creating ratings is a four step process

  • Stage 1: macro factor assessment

  • Stage 2: project specific assessment

  • Stage 3: risk factor weighting

  • Stage 4: BCR committee review

Learn more about how we create and monitor ratings
See full ratings process
Analytical framework

The BCR follows a robust analytical framework involving detailed assessment of six critical risk factors affecting the quality of credits issued by the project.


The risk that a credit purchased and retired does not lead to a tonne of CO2e being avoided or sequestered that would not have otherwise happened.


The risk that more credits than tonnes of CO2e achieved are issued by a given project due to factors such as unrealistic baseline assumptions.


The risk that the carbon avoided or removed by the project will not remain so for the time committed.


The risk that emissions avoided or removed by a project are pushed outside the project boundary.

Perverse incentives

The risk that benefits from a project, such as offset revenues, incentivise behaviour that reduces the effectiveness.

Policy and political environment

The risk that the policy environment undermines the project’s carbon effectiveness.
Sector classification

The BeZero Carbon Sector Classification system is a hierarchical sector classification system for the Voluntary Carbon Market (VCM).

It comprises of three tiers; sector group, sector and sub-sector. There are 6 sector groups, 14 sectors, and 42 sub-sectors. To learn more, see our full Sector Hierarchy Classification.

Total transparency

To scale effectively, participants across the Voluntary Carbon Market need more information transparency, which is why we publish our ratings process in full. Here we try to cover any outstanding questions.

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Present our ratings to end buyers through our API platform, and access the world’s largest coverage of carbon credit ratings, data and analytics on our BeZero Carbon Markets platform.

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