- Verra’s carbon capture and storage methodology has been approved under the Integrity Council for the Voluntary Carbon Market’s Core Carbon Principles.
- The framework covers carbon capture, transport and permanent storage, including direct air capture and bioenergy with carbon capture and storage.
- Verra said the approval strengthens the credibility of credits generated through projects using the methodology.
Verra’s carbon capture and storage (CCS) methodology has received approval from the Integrity Council for the Voluntary Carbon Market (ICVCM), adding a technology-focused framework to the organization’s portfolio of methodologies meeting the Core Carbon Principles (CCPs).
The approval covers Verra’s VM0049 methodology and accompanying modules. The framework establishes procedures for measuring greenhouse gas (GHG) reductions and carbon dioxide removals (CDR) from projects that capture CO2 and store it permanently.
VM0049 is designed to accommodate different project configurations, allowing developers to combine modules covering carbon capture, transportation and geological storage. The framework can also be expanded as projects grow, use shared infrastructure or adopt new technologies.
Framework Covers Multiple Carbon Capture Technologies
The approval covers modules for direct air capture (DAC), CO2 transportation, CO2 storage and bioenergy with carbon capture and storage (BECCS). The modular structure is intended to provide flexibility across different types of CCS projects.
VM0049 also places specific requirements on electricity used by carbon capture projects. Projects using renewable power must demonstrate that the electricity comes from newly developed renewable sources dedicated to the CCS project, rather than existing renewable generation.
The methodology is part of Verra’s Verified Carbon Standard (VCS) program, which also includes other CCP-approved methodologies covering forestry, agriculture, biochar, methane and renewable energy.
Relevant: Verra’s Latest Carbon Standard Gains Eligibility Under ICVCM’s Core Principles
“Carbon capture and storage is one of the hardest, most technically demanding technologies in the market, and it has to be done right,” Verra Chief Executive Mandy Rambharos said, underlying the importance of ICVCM’s approval for strengthening confidence in VCS projects and the resulting carbon credits.
VM0049 has been active since June 2024 and is globally applicable to projects involving geological carbon storage. It was developed by the CCS+ Initiative, South Pole Carbon Asset Management and Perspectives Climate Group, with support from Verra.
Read more: ICVCM Clears BioCarbon Standard, Cercarbono, And Plan Vivo, Pushing CCP Coverage Past 95%
