Verra releases new module for carbon capture and storage
Verra has released a new module for use under the methodology VM0049 Carbon Capture and Storage in the Verified Carbon Standard (VCS) Program. This module, VMD0062 Capture from Natural Gas Processing, v1.0, enables projects to quantify the greenhouse gas emission reductions resulting from the permanent storage of carbon dioxide that would otherwise be released into the atmosphere from natural gas processing.
VMD0062 expands the scope of VM0049, representing the first module under the methodology to focus on an industrial project activity (i.e., capturing CO2 separated from natural gas streams). Since the public consultation earlier this year, eligibility under the module has been expanded to cover existing and future natural gas processing facilities, which maximizes the opportunity for emission reductions.
This module was developed in accordance with Verra’s updated methodology development and review process, and it is one of the first examples of a sponsored, Verra-led development.
Verra is continuing to develop additional modules and tools to expand the scope of VM0049.
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