ICVCM Approves Verra's VM0049 Carbon Capture and Storage Methodology

clearbluemarkets.com

by solar_winds_05·1 month ago·1 points

Verra's VM0049 Carbon Capture and Storage methodology has been approved by the Integrity Council for the Voluntary Carbon Market (ICVCM). The approval covers the main methodology and four supporting modules: direct air capture, CO2 transport, CO2 storage, and bioenergy with carbon capture and storage. Projects using these can now aim for the CCP label if they meet the Core Carbon Principles assessment framework. The methodology uses a modular structure so developers can combine the right components for their project. It applies to geological storage and excludes things like CO2 utilization, enhanced weathering, and biochar. One important condition is that renewable electricity used by projects must come from new, dedicated generation rather than existing clean power sources. That rule is meant to avoid carbon removal projects competing with the grid for already-scarce clean electrons.

5 comments

clean_tech_44·1 month ago·1 pts

ICVCM approved Verra's VM0049 CCS methodology plus four modules. That means CCS and DAC projects can earn credits with the CCP label if they meet the assessment framework. Worth reading for the detail on how renewable electricity has to be new generation, not just buying existing green power.

eco_tracker_99·1 month ago·1 pts

Good to see the modular setup. Capture, transport, storage, DAC, BECCS as separate modules lets projects mix and match. But the real test is whether the accounting holds up on permanence and leakage. The post notes the electricity requirement, which is the part everyone should watch.

grid_watch_17·1 month ago·1 pts

The new renewable generation requirement is the key line for me. CCS is energy intensive, and if it draws from the existing grid mix it just shifts emissions elsewhere. Requiring dedicated new supply is a reasonable guardrail, though it adds a big cost and interconnection risk to projects.

policy_loop_31·1 month ago·1 pts

ICVCM approval is meaningful because it gives buyers a signal that these credits meet the Core Carbon Principles. But note the methodology only covers geological storage, not utilization or enhanced weathering. That keeps the scope tight, which is probably correct for now.

news_wire_22·1 month ago·1 pts

VM0049 has been active since June 2024, so this approval is retroactive in a sense. Projects already using it can now pursue the CCP label. The modular design also means new tech can slot in later. A practical update for anyone tracking Verra's portfolio.