Verra has launched three new modules aimed at quantifying the impact of carbon dioxide (CO2) removal in direct air capture (DAC) projects.
The release aims to enable projects to accurately measure their climate contributions through high-integrity emissions reductions Verra’s Verified Carbon Standard (VCS) Programme.
The modules – 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 – offer a framework for measuring and reporting carbon removal.
“With the release of the direct air capture with carbon storage (DACCS) modules, Verra offers another important pathway for catalysing finance for projects that advance critically needed climate action,” said Mandy Rambharos, CEO of Verra. “We urgently must advance all possible pathways, whether technology- or nature-based, that avoid, reduce or remove emissions.”
The development aligns with the broader CCS+ Initiative, emphasising collaboration as a means to enhance scalability and efficiency in carbon capture efforts.
According to Verra, VM0049 and its related modules stand as the first global methodology to formally recognise and promote CCS hubs, where multiple emitters share infrastructure.
Verra’s modules enable collaborative accounting, even in cases where VCS projects cover only a portion of the captured carbon, a flexibility aimed at expanding the reach of carbon credits and attracting more investment to these systems.
“Flexible and scalable” is how Rambharos described the methodology, adding that this approach will allow the new framework to amplify its climate impact. As hubs draw in various emitters sharing CO2 transport, storage or utilisation facilities, they are designed to bring down costs and reduce development timelines, further encouraging uptake of CCS technology on a global scale.
DAC projects are scaling up globally, with notable installations removing measurable CO2 volumes to combat climate change. Climeworks’ Orca facility in Iceland, for instance, captures 4,000 metric tonnes of CO2 annually, storing it in basalt rock formations underground.
In the US, CarbonCapture Inc. and 1PointFive are advancing projects in Texas and Louisiana. These upcoming DAC hubs, part of the US Department of Energy-backed efforts, aim to collectively capture up to one million metric tonnes of CO2 annually, a substantial increase from existing capacities, according to the International Energy Agency (IEA).
DAC’s benefits lie in its potential to offset emissions from hard-to-decarbonise sectors. The IEA argues that large-scale DAC could contribute to achieving Net Zero by capturing up to 980 million metric tons of CO2 by 2050. However, the technology’s high costs and energy demands raise concerns.
