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News Release

The following content is a news release issued by Verra. The original news release may be found here.

Verra Releases New Carbon Capture and Storage Methodology

Issued by Verra27 Jun 2024

27 June 2024

Verra has released Verified Carbon Standard (VCS) Methodology VM0049 Carbon Capture and Storage. VM0049 is a globally applicable framework for technology-based carbon capture and storage (CCS) activities that generate carbon dioxide removals (CDRs) and emission reductions. CDRs are considered a critical element of corporate net zero climate strategies.

CCS activities capture carbon dioxide directly from the atmosphere and/or from high-emitting industrial sources, followed by transportation (where required) and by permanent safe storage underground. The approach has significant potential to remove CO₂ and reduce emissions in diverse and hard-to-abate sectors, such as industrial manufacturing (e.g., cement), oil and natural gas, and power generation.

Organizations

Verra

Topics

Carbon Management

VM0049 outlines the overarching requirements for CCS projects. Projects will select from a set of modules for different CO₂ capture, transport, and storage activities to quantify the CDRs and emission reductions they generate. These modules can be combined to suit a project’s specific design or its technological needs. This modular format is adaptive to project expansions, the development of shared infrastructure, and future innovations.

Verra expects to release the first batch of modules in the next few months, covering the following activities:

Direct air capture
Transportation of CO₂
Storage of CO₂ in saline aquifers and depleted oil and gas reservoirs

Several other modules are currently being developed (including those listed on the M0286 methodology page), covering a wide range of additional activities that VM0049 can support.

NOTE: Projects may request pipeline listing on the Verra Registry using a methodology that is under development, per Section 3.1.5 of the Registration and Issuance Process, v4.5. Therefore, proponents seeking to develop a project using any of the above modules can request pipeline listing on the Verra Registry immediately.