The Global Carbon Council (GCC) – a voluntary carbon offsetting program, aiming to assist organizations in reducing their emissions, focused on the Middle East & North Africa (MENA) region, has released the first version of its Draft Methodology for Project Activities Involving the Capture, Transport, and Geological Storage of Carbon Dioxide along with a Guidance document on site selection and monitoring requirements.
It the first integrated methodology in the voluntary carbon market, covering direct air capture and storage, bioenergy with carbon capture and storage (BECCS), and carbon capture and storage.
According to GCC, the methodology aims to facilitate the project owners of eligible greenhouse gas (GHG) mitigation projects to calculate the emission reduction and/or removal of their projects, monitor the emission reductions/removals, develop the project submission in accordance with the methodologies, and, ultimately, access the global carbon market.
The guidelines on the site selection and monitoring are divided into five sections:
- Geological Storage Site Selection and Characterization.
- Risk and Safety Assessment.
- Environmental and Socio-economic Impact Assessment.
- Monitoring Requirements – they are divided into two groups:
- Initial monitoring plan design.
- Monitoring reports, and updates to the monitoring plan.
- Site Development and Management Plan.
The methodology of the Global Carbon Council is open for public consultation until 20 Dec 2023. The organization is welcoming public inputs on it and the comprehensive guidance document. The comments can be provided in the GCC document commenting sheet form and sent to the Global Carbon Council at: Operations@globalcarboncouncil.com.