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.
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.
