Gold Standard And Summit Unveil New Carbon Removal & Storage Methodology

Gold Standard And Summit Unveil New Carbon Removal & Storage Methodology - Carbon Herald

Gold Standard and Summit Carbon Solutions have just published their methodology for engineered carbon dioxide removal (CDR) and storage. 

This methodology titled Methodology for Biomass Fermentation with Carbon Capture and Storage (BFCSS) is the first of its kind to be approved by Gold Standard. 

After a thorough two-year evaluation, Gold Standard has given the green light to Summit’s  BFCSS methodology, co-developed with Anew Climate. 

This paves the way for issuing tradable carbon credits for BFCSS projects.

The methodology sets clear guidelines for project selection, along with precise monitoring techniques to accurately measure captured and stored biogenic CO2. 

Relevant: Gold Standard Unveils Shipping Solution To Generate Carbon Credits

It aligns with Gold Standard’s strict requirements for environmental impact, social responsibility, and promoting sustainable development goals.

This groundbreaking method enables long-term carbon dioxide removal (CDR), ensuring captured CO2 remains locked away for centuries. 

According to the Intergovernmental Panel on Climate Change (IPCC), CDR is essential to achieving net-zero emissions targets and limiting global warming to 2°C or less.

Summit and Gold Standard remain dedicated to upholding the highest integrity standards within the carbon market with this approved methodology, which empowers Summit to significantly advance progress towards a greener future. 

Relevant: Summit Carbon Solutions Announces New Shipper For Its Carbon Capture Project

Ben Nelson, Director of Carbon Programs at Summit Carbon Solutions, commented on the announcement: “We’re grateful for Gold Standard’s collaboration, rigorous process, and commitment to transparency.”

“They are known throughout the market as one of the leading carbon registries, as evidenced by being one of the first registries approved by the Integrity Council for the Voluntary Carbon Market (IC-VCM), and we are proud to align our project against their robust standards for environmental integrity,” Nelson said.

On behalf of Gold Standard, CEO Margaret Kim stated: “Gold Standard is committed to supporting new technologies that support our global journey towards net zero.”

“Carbon dioxide removal and storage is vital, and our first geologic storage methodology is an important milestone. I thank Summit Carbon for their important work, and congratulate them on this achievement.” 

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