Greenhouse Gas Capture and Utilization in Plastic Materials
Plastic production is an enormous source of emissions worldwide, accounting for more than 300 million tCO2e each year. These emissions are due to the extremely energy-intensive process required to refine fossil fuels into plastic products. In an effort to help combat this large source of emissions, Newlight Technologies has developed an innovative new methodology for projects that produce plastics from captured greenhouse gases, effectively sequestering the captured greenhouse gasses in plastic materials. The methodology also accounts for emission reductions achieved due to the fact that the process for producing plastics via captured greenhouse gases is much less emissions-intensive than producing plastics from fossil fuels. Because this methodology is applicable to a novel technology, it uses an activity method for the demonstration of additionality, which will help streamline the project development and assessment process.
The full draft methodology for Greenhouse Gas Capture and Utilization in Plastic Materials is available on our website for you to review. Please send any comments to secretariat@verra.org by 13 April 2018.