The CCS+ Initiative aims to scale cutting edge climate technologies by developing a robust accounting infrastructure that promotes environmental integrity. The CCS+ Initiative separately accounts for emissions reduction and carbon dioxide removal solutions.
Mission statement
01.
What we want to achieve
CCS+ seeks to limit catastrophic climate change and reach net zero emissions by unlocking the potential of certified CO2 capture, utilization, removal and storage solutions around the world.
02.
How we plan to get there
By developing robust carbon accounting methodologies, with a solutions-focused modular approach, CCS+ enables the measurement and monetization of reduced emissions and removed carbon.
03.
Why we believe in our approach
CCS+ takes a collaborative approach, grounded in industry expertise and scrutinized by an Advisory Group, to create a public good that adheres to the highest levels of environmental integrity.
A critical solution in mitigating climate change
The Paris Agreement goal is to limit global warming to well below 2 preferably to 1.5 degrees Celsius compared to pre-industrial levels. To achieve this long-term temperature goal, global greenhouse gas emissions need to peak as soon as possible to achieve a climate neutral world by mid-century.
CCS+ is expected to play a critical role in reducing emissions from hard-to-abate sectors as well as supporting the circular economy, through utilization activities (CCU). CCS+ technologies could also generate permanent carbon removals when combining CCS with CO2 from biomass (Bio-CCS, e.g. BECCS) or with direct air capture (DACCS) or through mineralization processes.
Governance
The CCS+ Initiative is a global, multi-stakeholder alliance, with a unique representation of technology and solution providers, heavy emitters, professional service providers, academia, and civil society. It is the first initiative of its kind – developing both carbon reduction and removal approaches with rigorous verification standards.
Through 2021-2024, the CCS+ Initiative aims to have its methodologies published under the VCS as a public good, enabling their use across voluntary carbon markets. It may also serve as a foundation to accelerate the adoption of carbon capture, utilization, removal and storage activities under other voluntary market standards or in compliance carbon markets.
Partners
The CCS+ Initiative has been established by a number of leading industry players to jointly develop robust carbon accounting methodologies.
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.
Hafslund Oslo Celsio
Hafslund Oslo Celsio covers 20% of Oslo’s heating demand and is the largest supplier of district heating in Norway. Celcio is also operating Norway’s largest waste-to-energy plant at Klemetsrud in the outskirts of Oslo. The plant delivers around 60% of the heat in the district heating system, but it is also Oslo’s largest emissions source, accounting for 17% of the city’s GHG emissions. To reach the Norwegian capital’s ambitious climate goals of reducing its emissions with 95% by 2030, Celsio is aiming at realizing the world’s first large-scale waste-to-energy plant with CCS in 2026.
Mitsubishi Corporation
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries in approximately 90 countries and regions worldwide, as well as a global network of around 1,700 group companies.
Equinor
Equinor is a broad energy company with more than 20,000 colleagues committed to developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re dedicated to safety, equality and sustainability.
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
Carbfix provides permanent and safe storage solution for captured carbon, in which CO2 is injected and rapidly turned into stone underground through proprietary technology that imitates and accelerates natural processes.
Climeworks
Climeworks empowers people to reverse climate change by permanently removing carbon dioxide from the air. One of two things happens to the Climeworks air-captured carbon dioxide: either it is returned to earth, stored safely and permanently away for millions of years, or it is upcycled into climate-friendly products such as carbon-neutral fuels and materials.
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
Our purpose is reimagining energy for people and our planet. We want to help the world reach net zero and improve people’s lives. We believe CCUS can play a vital role in limiting emissions, helping us achieve our net zero aims and supporting global efforts to meet the Paris goals.
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.
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.
Japan Gas Association
The Japan Gas Association (JGA) is an organization consisting of approximately 200 city gas supply utilities, covering 27 million customers, or more than half of the total number of households in Japan. The JGA contributes to the economy and people’s welfare by promoting the sound development of the gas utility business as well as coordinating the stable energy supply, ensuring safety and addressing environmental issues.
Japan Petroleum Exploration
Japan Petroleum Exploration (JAPEX) is a Japanese comprehensive energy company. Our business are E&P (exploration, development, production, and sales) of oil, natural gas, and other energy resources, contract services related to our business operations such as drilling, and development of renewable energy resources.
Progressive Energy
Progressive Energy exists to develop and deliver clean energy projects at a scale that makes a material difference to climate change. We aim to achieve significant carbon emissions reduction through the development of decarbonisation projects such as HyNet North West, the UK’s leading CCS cluster.
Neustark
Neustark provides a solution to remove CO2 from the atmosphere by storing it in recycled concrete safely and permanently. The Swiss-based ETH Spin-off offers removal credits that are commercially available since 2022. Neustark established the first third-party approved methodology for carbon mineralization which solely focuses on carbon removal.
NeoCarbon
NeoCarbon captures carbon directly from the atmosphere at scale, profitably leveraging the existing airflow and waste heat of industrial cooling towers.
JX Nippon Oil & Gas Exploration Corporation
JX Nippon Oil & Gas Exploration Corporation has engaged in the development and production of oil and natural gas in Japan and around the world for over 40 years as one of the principal operating companies of the ENEOS Group, Japan’s largest energy, resources and materials conglomerate.
We will continue to seek global opportunities to implement our state-of-art technologies and create value to realize a sustainable lower-carbon society as well as achieve long-term sustainable production.
ENOWA Neom
Using Circular Design and Technology to Realize NEOM.
ENOWA is the energy, water and hydrogen subsidiary of NEOM. A catalyst of the energy transition, it is using circular design and groundbreaking technologies to realize NEOM’s ambitions and introduce a new model for urban sustainability; one powered by 100% renewable energy and a smart network that distributes high-standard water to all of NEOM, while exporting clean industrial resources and sustainable solutions to the world.
Advisory Group
The CCS+ Initiative established an Advisory Group, comprising NGOs industry associations academics and other CCS+ stakeholders, to guide the work and ensure that the final products will be broadly embraced and used.
IETA
IETA is a non-profit business organisation with the purpose to establish a functional international framework for trading in greenhouse gas emission reductions. IETA members seek to develop an emissions trading regime that results in real and verifiable greenhouse gas emission reductions, while balancing economic efficiency with environmental integrity and social equity.
Global CCS Institute
The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and deliver climate neutrality.
Negative Emissions Platform
Negative Emissions Platform is a unique partnership of European and international actors. We represent technology developers, providers and sponsors, research centers, academia, think-tanks and civil society. We provide a forum in which diverse like-minded organisations actively collaborate to improve political and public recognition of carbon removals.
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.
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.
ResponsibleSteel
ResponsibleSteel is the first global multi-stakeholder steel standard and certification initiative, with a programme that covers both climate and GHG emissions, and all the other key ESG issues of the steel value chain. Our mission is to maximise steel’s contribution to a sustainable society. ResponsibleSteel published their International Standard version 2.0, including additional requirements on the GHG emissions performance of steel production and the responsible sourcing of input materials. ResponsibleSteel includes over 13% of global steel market by volume in membership and has over 100 million tons of certified steel across five continents (as of 2022). Businesses from every part of the steel supply chain, civil society groups, associations, and other organisations with an interest in a sustainable steel industry from anywhere in the world are welcome to join.
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
Verra is a non-profit organization (NGO) focused on addressing climate and sustainable development issues through the development and management of market-based standards.
Resources
FAQ
1. What is the CCS+ Initiative?
The CCS+ Initiative has been created to develop methodologies to measure and monetize the full suite of carbon capture, utilization, removal and storage activities through the voluntary carbon markets and compliance regimes.
2. Why is it important?
Tapping carbon market potential requires robust carbon accounting methodologies to be developed and approved by carbon credit standards bodies. Carbon markets can help finance important projects that would not otherwise be viable.
3. What is CCS+?
Carbon Capture and Storage is a process whereby CO2 is captured at point source or from the atmosphere (+), directly or indirectly, and stored in a way that it is not released into the atmosphere within a climate-relevant time horizon. By applying CCS+, it is possible to mitigate the effect of greenhouse gas emissions on the climate, depending on the outcome of a life-cycle analysis.
4. What is CCU+?
Carbon Capture and Utilization is a process in which CO2 is captured at point source or from the atmosphere (+), directly or indirectly, and then used to produce a new product. Depending on the outcome of a life-cycle analysis, CCU solutions can have climate mitigation benefits.
5. What is CDR?
Carbon dioxide removal (CDR) is a process whereby CO2 is physically removed from the atmosphere and stored with the intention to be permanent, with all greenhouse gas emissions over the entire chain of removal and storage included in the life-cycle analysis and whereby the total amount of CO2 removed and stored is greater than the CO2emitted.
6. What are carbon credits and carbon markets?
Carbon credits are measurable units of emission reductions or removals that are created for the purposes of trading and retiring. They represent real, additional and verified emission reduction. These are removal benefits that the owner may claim when they retire the credit. Carbon markets are the collection of buyers and sellers of carbon credits who facilitate carbon project financing to reduce and/or remove GHG emissions through the generation and use of carbon credits.
7. What is the purpose of the CCS+ Initiative?
The CCS+ Initiative aims to leverage carbon markets and to scale up global decarbonization and carbon removal efforts. The initiative aims to do this through enabling much needed financial incentives that make technologies such as carbon capture, utilization, removal and storage economically viable and robust. Both the IPCC and IEA have reinforced the importance of safe carbon storage solutions in the global ‘race to zero’. Such solutions will be critical, both as a decarbonization tool and in meeting global climate targets.
8. What is the potential of CCS, CCU and CDR solutions for decarbonisation efforts?
Carbon capture, utilization, removal and storage solutions have the potential to contribute many millions of tonnes of CO2 emission reductions and removals per year in the fight against climate change. Over many years, this could amount to billions of tonnes of avoided emissions or CO2 removed from the atmosphere.
9. How will the CCS+ Initiative ensure a transparent and robust methodology development process adhering to environmental integrity?
The Advisory Group includes NGOs, industry associations, academics such as IETA. Verra has a robust and transparent methodology approval process, and the initiative will submit documents to Verra that will be subject to the same rigor and review as all methodologies under the VCS system. Public consultations enable further scrutiny.
10. What is the relevance and potential of safe storage solutions for negative emissions?
The durability of the storage solution coupled with the removal of atmospheric carbon is key to determine the success of the CDR approach with regards to restoring the climate. The longer carbon stays out of the atmosphere, the more effective it will be in decreasing atmospheric concentrations.
11. What differentiates removals from reductions ? Why can methodologies for the two be developed in the same framework?
Since both emissions reductions (e.g. from fossil sources) and carbon removal (i.e. from atmospheric or biogenic sources) can rely on the same storage reservoirs, the quantification methods can overlap. A robust approach to accounting, based on cradle-to-grave life-cycle assessment (LCA) assessments, will provide the clarity necessary to distinguish the climate mitigation outcome and their respective application in the voluntary carbon market.
12. How will reduction and removal credits be differentiated?
The CCS+ Initiative is developing a reductions/removals tool to help project developers identify the mitigation outcome in their carbon measurement and accounting. Verra plans to conduct a public consultation on how best to differentiate reduction and removal credits in its registry.
13. What is the role of “methodologies” within the context of carbon credits?
Carbon accounting methodologies outline detailed procedures for quantifying the actual GHG benefits of a project. They guide project developers in identifying the project boundaries, establish baselines, assess additionality and calculate the GHG emissions that are reduced or removed. Methodologies ensure that similar projects calculate the GHG benefits through a similar approach. Over time, a methodology may be revised, withdrawn or put on hold if the activity is no longer relevant or considered a valid way to generate emission reductions.
14. Why is the CCS+ Initiative starting with a methodological framework for voluntary carbon markets?
Currently, methodologies for carbon capture, utilization, removal and storage solutions only exist on a very limited basis, both geographically and scope-wise. In response, a number of leading industry players have established the CCS+ Initiative to develop the methodological concepts. As many companies would otherwise be forced to work in isolation on methodologies, collaboration across the market is key to achieve the aim of the initiative and accelerate the development of a comprehensive and integrated methodological framework.
15. Why the VCS? Will the methodological framework be exclusive to the VCS?
The Verified Carbon Standard (VCS) is the world’s leading carbon crediting platform, accounting for two-thirds of all voluntary carbon market transaction volume and playing a growing role within emerging compliance markets. The VCS has approved dozens of GHG methodologies and registered over 1,600 projects in 80 countries, covering all major GHG mitigation types. The CCS+ Initiative aims to produce a coherent, high-quality and high-integrity methodological framework including a full suite of VCS methodologies and tools to account for and credit CCS+ projects at the national and international level. These methodologies would be immediately usable in the VCS, but could also be tapped by other regulatory regimes around the world (including Article 6).
16. How is the CCS+ Initiative different from past efforts in voluntary carbon markets?
The CCS+ aspires to be the leading initiative worldwide that will create carbon credit pathways for CCS and later on CCU applications, with environmental integrity and innovation as guiding principles. It is the first initiative to work on both carbon removal and reduction approaches and technologies, with a strong and unique representation of technology and solution providers, emitters and civil society. The CCS+ Initiative is also one of the first efforts to come up with a comprehensive framework to cover a broad range of technologies and solutions in a modular manner.
17. Why a modular approach?
The CCS+ Initiative’s work will be based on a modular approach covering the various mitigation facets and use cases of CCS activities i.e. realising emission reductions and carbon removals. The ultimate goal is to establish VCS carbon crediting pathways for a comprehensive suite of carbon capture, utilization, removal and storage activities and to pilot carbon methodologies acknowledging the diversity of such projects (and geographies). Taking a modular approach is needed to calculate the unique GHG benefits of different (part) solutions.
18. What are the initial priorities of the CCS+ Initiative?
A key priority is to harmonize core principles and produce a guidance document with a consistent and coherent set of general definitions. This includes outreach activities to relevant stakeholders to gather input and encourage the adoption of the resulting outputs. In parallel, the CCS+ Initiative will start to assess needs and requirements for methodologies for each step in the carbon capture, utilization, removal and storage value chains. This is followed by the development of a coherent, robust methodological framework within which the CCS+ methodologies would fit under the VCS.
19. What is the process of developing a quantification methodology under the VCS?
Rules and requirements for methodology development is available at
20. When will the CCS+ carbon methodologies be available?
We are aiming to finalize the methodologies by 2022-2024
21. How will the outputs of the CCS+ Initiative be used in the market? And by whom?
The objective of the CCS+ Initiative is to unlock and scale-up CCS-related climate action in carbon markets, with an initial focus on project-based methodologies for the VCM and Article 6. The methodologies developed under the CCS+ Initiative would be immediately usable in the VCM by companies around the world. The Paris Agreement architecture and the mitigation targets that countries have pledged in the context of their Nationally Determined Contributions (NDCs) also requires tools for a solid accounting of emissions along the complete CCS value chain (source of fuels, CO2capture, transportation and storage) at the national and international level (including transboundary accounting solutions). Countries may therefore also use the outputs.
22. 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.
23. Is the CCS+ Initiative open to additional partners and observers?
The CCS+ Initiative is open to additional partners and observers. The Initiative has established an Advisory Group that is composed of NGOs, industry associations, academics, and other key stakeholders. The Initiative engages with interested stakeholders to promote the work and adoption of outputs within voluntary carbon markets and regulatory regimes.
24. Who can join the CCS+ initiative?
The CCS+ Initiative is set-up as a joint and open alliance where industry leaders bring their projects to the initiative and together with internationally renowned methodological experts co-create the needed methodologies and tools. Additional members are most welcome to join the CCS+ Initiative at any time to bring their interests and projects to this effort, collaborate on methodological development and share learnings.
25. How does the CCS+ Initiative approach additionality?
It is critical to ensure additionality of projects that monetize their impact in the form of credits tradable on the voluntary carbon market. CO2 emission reductions and removals are additional if they would not have taken place without a market for credits. Projects are not additional if the reduction or removal would have happened in a business as usual scenario, because it is mandated by regulation, already commercially viable, or received subsidies that cover the costs. The CCS+ Initiative decides with its members and Verra on the most appropriate additionality requirements for each solution covered under the work.
26. How does the CCS+ Initiative take account of embodied carbon?
Accounting for embodied carbon in a project’s emission reduction calculation may be important. Embodied carbon is the carbon contained in the processes or materials throughout the whole lifecycle of a project (including the construction phase), as well as emissions in the value chain. If they are material, they may need to be included in the determination of the total amount of CO2 reduced or removed. A final decision on the CCS+ approach has yet to be taken.
27. Does the CCS+ Initiative determine how credits can be used?
The CCS+ Initiative was established to develop carbon accounting methodologies. It is not an advocacy platform and has no mandate to give guidance on how credits may be used. Other initiatives, such as the Voluntary Carbon Market Integrity Initiative (VCMI), the Integrity Council for the Voluntary Carbon Market (IC-VCM), and the Science Based Target initiative (SBTi) are better placed to address this matter.
28. How will the CCS+ Initiative be governed?
The CCS+ initiative is governed in a lean way to ensure that results are produced fast and effectively. A Steering Committee provides the mandate to the Secretariat which coordinates the relevant tasks and outputs of Working Groups, with continuous and iterative collaboration across the groups. The CCS+ Initiative Advisory Group, comprises NGOs, industry associations, academics, and other key stakeholders, and are mandated to guide the work and ensure that the final products will be broadly embraced and used.