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IETA Publishes Carbon Credit, Geostorage Handbook

The International Emissions Trading Association (IETA) has published a handbook providing a synthesis of methods and safeguards on the crediting of reductions and removals involving the geological storage of carbon dioxide. The document reviews the unique risks associated with crediting carbon storage activities compared to other types of mitigation activities. It also describes the principles, precedents, and practices that have evolved over many years of international negotiations to safeguard against such risks. “This first-of-its-kind, comprehensive compendium of geological storage methodologies and safeguarding standards offers a valuable resource for policymakers and practitioners in this field,” said Paul Zakkour, Co-founder of Carbon Counts, which was involved in drafting the handbook. The first part of the document reviews key methodological building blocks of crediting mechanisms as they apply to geological CO2 storage technologies. Meanwhile, the second part explores the safeguarding principles and precedents needed to underpin the safe and secure deployment of geological CO2 storage – such as direct air capture, bioenergy capture and removal, and capture and storage from industrial sources. The range of safeguards collectively supports robust crediting of these climate-critical solutions, the handbook mentioned. Based on these collective best practices, a set of high-level criteria to guide the future development of geological CO2 storage within carbon markets is then presented. “Mindful of the existing wealth of knowledge on the topic, the IETA used its convening power to bring together a broad range of stakeholders to help shape the way in which geological storage can be incentivised and regulated,” said Katie Sullivan, Managing Director at the IETA. “Using this technology is essential if net zero targets are to be met.”

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