Carbon Direct, in collaboration with Microsoft, today announced the release of the 2023 edition of the Criteria for High-Quality Carbon Dioxide Removal. The 2023 edition advances the work done by Carbon Direct and Microsoft since the inaugural Criteria were introduced in 2021 to address the quality challenges in the voluntary carbon market through the development of rigorous, science-based standards for carbon dioxide removal projects. The Criteria are designed to provide carbon removal project developers with regularly updated guidance to ensure project quality, and to offer buyers of carbon removal credits a starting point for evaluating the quality of their carbon credits portfolios.
Read the Report: Criteria for High Quality Carbon Dioxide Removal >
The global community increasingly acknowledges the urgent need to scale carbon dioxide removal alongside reductions in order to meet climate mitigation targets. According to the most recent International Panel on Climate Change (IPCC) synthesis report, even in the best-case emissions reduction scenario, we still need to remove billions of metric tonnes of carbon dioxide from the atmosphere through the end of the 21st century to mitigate the worst climate impacts, including 1.2 billion tons a year by 2030.
Internationally, both governments and private sector organizations are increasingly including emissions removal targets alongside reductions in their climate mitigation plans and investing in offtake for future supply. In the United States, the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA) have resulted in substantial new investment and innovation in carbon dioxide removal. These and other developments underscore the urgency for scientifically-grounded carbon dioxide removal criteria to ensure effective climate action across sectors and borders.
“The long-term viability of the voluntary carbon market — for both project developers and credit purchasers — requires that we continuously refine and revise our understanding and implementation of the available carbon removal methodologies and how they are evaluated,” said Jon Goldberg, CEO, Carbon Direct. “Science is not static. The annual updates to the Criteria reflect this reality. Through our work with Microsoft we are committed to providing quality benchmarks based on the latest science, even when