
CCS+ Initiative
01.
Objective
02.
Goal
03.
Innovations
Governance
Partners
Tapping carbon market potential requires robust carbon accounting methodologies to be established by carbon credit standards bodies. In response, a number of leading industry players have established the CCS+ Initiative to develop a methodological framework covering for the full suite of CCS activities.

Oxy Low Carbon Ventures
Carbon Finance Labs
Oxy Low Carbon Ventures is a subsidiary of a subsidiary of Occidental and developing carbon capture, utilization and storage (CCS) projects to remove human-made carbon dioxide from the atmosphere for use in lower carbon oil production operations

Northern Lights
Northern Lights is developing the world’s first open-source CO2 transport and storage infrastructure. We deliver carbon storage as a service. Our aim is to help industrial emitters stop emissions that cannot be avoided in other ways from reaching the atmosphere.

TotalEnergies
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels natural gas and green gases renewables and electricity.

South Pole
South Pole is a leading project developer, advisor and provider of global climate services which helps private and public organizations and companies reduce their impact on the climate.

Perspectives Climate Group
Perspectives Climate Group is internationally recognised for its innovative practical and high-quality solutions in many fields of international carbon markets and climate policy.

Fortum

Mitsubishi Corporation

Equinor

Carbon Engineering
Carbon Engineering (CE) is a leading developer of Direct Air Capture (DAC) technology that captures carbon dioxide directly from the atmosphere. CE is focused on the global deployment of megaton-scale DAC facilities so it can have the greatest impact on the huge climate challenge.

Carbfix

Climeworks

Carbyon
Carbyon develops a machine to capture CO2 from ambient air. The technology is based on an innovative membrane developed by TNO and using the latest techniques from the semiconductor industry. The company targets to capture CO2 from ambient air at 50 Euro per ton offering the world an effective tool in the fight against climate change.

BP

IFPEN
IFP Energies nouvelles (IFPEN) is a major research and training player in the fields of energy, transport and the environment. From scientific concepts within the framework of fundamental research, through to technological solutions in the context of applied research, innovation is central to its activities, hinged around four strategic directions: climate, environment and circular economy – renewable energies – sustainable mobility – responsible oil and gas.

ClimatePartner
ClimatePartner was founded in Munich in 2006 to help companies manage and offset CO2 emissions with our innovative software as a service model and through our Carbon Neutrality Label. We were recognized by Environmental Finance as “Best Wholesaler” and “Best Offset Retailer” 2021, and work with over 4,000 companies globally.

DRAX
Drax Group is a UK-based renewable energy company engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses. Enabling a zero carbon, lower cost energy future is Drax Group’s purpose and in 2019, it announced a world-leading ambition to be carbon negative by 2030, using BECCS technology to remove carbon dioxide from the atmosphere at scale whilst delivering reliable renewable electricity.

JOGMEC
Japan Oil, Gas and Metals National Corporation (JOGMEC) is a Japanese governmental agency with global portfolio in energy and mineral investments. Using its technical and financial expertise in natural resources, JOGMEC is actively promoting CCS projects and CCS-related R&D to accelerate carbon neutrality.

INPEX
INPEX Corporation is Japan’s largest exploration and production (E&P) company. We are committed to helping create a brighter future for society through our efforts to develop, produce and deliver energy in a sustainable way.

Macquarie
Macquarie Group Limited (Macquarie) is a global financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Macquarie employs 16,459 people in 32 markets.

44.01
44.01 turns CO2 into rock using the natural power of mineralization into peridotite, providing a permanent and secure form of CO2 storage. Our process enables carbon removal. We partner with Direct Air Capture companies to remove CO2 from the atmosphere and help hard to decarbonize sectors achieve their net zero targets.

NEXT Carbon Solutions
NEXT Carbon Solutions advances proprietary processes to lower the cost of carbon capture and storage (CCS), helping its customers to reduce emissions and achieve clean energy goals. These processes apply to multiple industrial-scale CO2 sources including LNG facilities, power plants, midstream assets, and manufacturing facilities. NEXT Carbon Solutions is a wholly owned subsidiary of NextDecade Corporation, a clean energy company accelerating the path to a net-zero future.

Baker Hughes
Baker Hughes is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet.

Kajima Corporation
Kajima Corporation, established in 1840, is a leading construction and engineering company contributing to the industrial and economic development in Japan and around the world. We have been working to develop a variety of eco-friendly concrete including the world’s first carbon negative concrete “CO2-SUICOM.”

GE Power
GE Power is a world energy leader that provides technology, solutions and services across the entire energy value chain from the point of generation to consumption. Powering more than a third of the world, it serves customers in more than 150 countries.

Shell
Shell is a global group of energy and petrochemical companies that aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible.

Sika
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Sika is committed to continuously measure, improve, report and communicate sustainable value creation. “More value, less impact” refers to Sika’s commitment to maximize the value of our solutions and contributions to all stakeholders while reducing risks and resource consumption.

FS Fueling Sustainability
FS Fueling Sustainability is the first ethanol industry in Brazil that uses corn in 100% of its production. Today, with two units, one in Lucas do Rio Verde and another in Sorriso, Mato Grosso, the company has the capacity to produce around 1.5 billion liters of ethanol per year. In addition, it also has state-of-the-art technology for the manufacture of products for animal nutrition, known by the acronym DDG (Dried Distillers Grains), corn oil and bioelectricity. Recently, the company announced the construction of its third unit, located in Primavera do Leste (MT), with an estimated investment of BRL 2.3 billion, which will increase its total capacity to 2 billion liters of ethanol/year.

CarbonQuest
CarbonQuest reduces emissions from buildings and co-gen facilities with onsite, modular carbon capture. CQ’s liquid Sustainable CO2™ is then used to mineralize it in concrete or displace petroleum in chemical or bioenergy conversion.

Future Biogas
Future Biogas is the largest operator of biomethane assets in the UK. We are developing the first unsubsidised biomethane facilities to capture and permanently store CO2. The biomethane and carbon reduction certificates will play a key role in helping companies achieve their net-zero ambitions.

Mercuria
Established in 2004, Mercuria is one of the largest independent energy and commodity groups in the world, bringing efficiency to the commodity value chain with technology, expertise, and solutions. Mercuria’s business includes trading flows, strategic assets, and structuring activities that generate more than $120 billion in turnover. The company has built upon a series of strategic acquisitions, including the physical commodities trading unit of JPMorgan Chase & Company, Noble Group’s U.S. gas and power business, and the Aegean Marine Petroleum Network, reorganized as Minerva Bunkering. It has become one of the most active players in the renewable and carbon markets, with more than fifty percent of new investments dedicated to the energy transition.
Advisory Group

IETA

Global CCS Institute

Negative Emissions Platform

ICROA
The International Carbon Reduction and Offset Alliance (ICROA) is a non-profit organisation made up of the leading carbon reduction and offset providers in the voluntary carbon market. It unites businesses committed to establishing high standards of integrity in the market for climate solutions.

WBCSD
The World Business Council for Sustainable Development (WBCSD) is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment, and societies.

ZEP
The Zero Emissions Platform (ZEP) is a European Technology and Innovation Platform (ETIP) under the European Commission’s Strategic Energy Technology Plan (SET-Plan) and acts as the EU’s technical adviser on the deployment of Carbon Capture and Storage (CCS), and Carbon Capture and Utilisation (CCU) under Horizon2020 R&I programme.

RMI
RMI decarbonizes energy systems through rapid, market-based change in the world’s most critical geographies to align with a 1.5°C future and address the climate crisis. We work with businesses, policymakers, communities and other organizations to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50% by 2030.

OGC
The Oil and Gas Climate Initiative aims to accelerate the industry response to climate change. As leaders in the industry, accounting for almost 30% of global operated oil and gas production, we aim to leverage our collective strength, so helping to achieve net zero emissions as early as possible.

TNO
TNO is an independent applied research organization. We believe in the joint creation of economic and social value. TNO connects people and knowledge to create innovations that boost the competitive strength of industry and the well-being of society in a sustainable way.

Environmental Defense Fund
Guided by science and economics, we find practical and lasting solutions to the most serious environmental problems. What distinguishes EDF is the combination of what we protect and how we protect it. We work to solve the most critical environmental problems facing the planet and since these topics are intertwined, our solutions take a multidisciplinary approach.

IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
Independent standard setter
The initiative has begun the process for the development and approval of a methodology under the Verified Carbon Standard (VCS). A concept note has been submitted and accepted by Verra. Engagement around the methodology development has begun according to the VCS rules and Verra procedures.

Verra
FAQ
1. What?
2. Why?
3. How?
4. What is CCS?
Carbon Capture and Storage is a process whereby CO2 is captured and stored in a way that it is not released into the atmosphere within a climate-relevant time horizon. By applying CCS to point source emissions, it is possible to mitigate the effect of greenhouse gas emissions on the climate.
5. What is CCU?
6. What is CDR?
7. What are carbon credits and carbon markets?
8. What is the purpose of the CCS+ Initiative?
9. What is the potential of CCS and CCU(S) solutions for decarbonisation efforts?
10. What is the relevance and potential of safe storage solutions for negative emissions?
11. What differentiates removals (ie negative emissions) from reductions ? Why can methodologies for the two be developed in the same framework?
12. What is the role of “methodologies” within the context of carbon credits?
13. Why is the CCS+ Initiative starting with a methodological framework for voluntary carbon markets?
14. Why the VCS? Will the methodological framework be exclusive to the VCS?
15. How is the CCS+ Initiative different to past efforts in voluntary carbon markets?
16. Why a modular approach?
17. What are the priorities of the CCS+ Initiative to start with?
18. What is the process of developing a quantification methodology under the VCS?
19. When will the CCS+ carbon methodologies be available?
Mid-2022
20. How will the outputs of the CCS+ Initiative be used in the market? And by whom?
21. What is the relevance of the initiative for existing or emerging mandatory carbon pricing schemes worldwide?
The CCS+ Initiative may set a useful precedent for how carbon pricing schemes may account for and credit CCS activities, including key issues such as permanence, additionality and market leakage. Further, some compliance schemes may choose to accept Verified Carbon Units (VCUs) generated from these methodologies.