Three new modules which can be used under the methodology VM0049 Carbon Capture and Storage (CCS) within the Verified Carbon Standard Program, have been launched by Verra.

The purpose of these modules is to make it possible for projects to quantify the carbon dioxide removals which are a result of direct air capture (DAC) projects.

It has been revealed that the modules which are due to be published are: VMD0056 CO2 Capture from Air (Direct Air Capture), VMD0057 CO2 Transport for CCS Projects, and VMD0058 CO2 Storage in Saline Aquifers and Depleted Hydrocarbon Reservoirs. Furthermore, Verra’s CCS methodology is now operational and it can easily be used by projects to deliver real, additional and finally, high-integrity emission removals on a global scale.

VM0049 and the modules will arrive as CCS and it is clear that these modules and technological carbon dioxide removal (CDR) have an ever-increasing important role when it comes to mitigating the disastrous effects that are caused by climate change. A huge benefit of carbon credits, is that the finance that is generated by them can help to scale the sector, whilst simultaneously accelerating its development.

It was the CCS+ Initiative (external) and Verra who were responsible for developing the VM0049 and associated modules.

The framework that has been created around this project will also effectively allow emissions accounting in collaborative CCS hubs, in which VCS projects include only a portion of the captured carbon. Altogether, this means that VM0049, plus the other related modules, are the first global methodology which allows and encourages collaborative CCS hubs, along with shared infrastructure for the efficient and scalable deployment of multiple CCS technologies.

CEO, Verra, Mandy Rambharos, commented, “With the release of the direct air capture with carbon storage (DACCS) modules, Verra offers another important pathway for catalyzing finance for projects that advance critically needed climate action. We urgently must advance all those possible pathways, whether technology- or nature-based, that avoid, reduce, or remove emissions. The carbon capture and storage methodology and the associated modules also stand out for their flexible and scalable approach that will enable them to amplify their climate impact.“