Gold Standard and Summit Carbon Solutions have announced the publication of an engineered carbon removal and storage methodology – the first to be approved under Gold Standard for the Global Goals.

AMES, Iowa and Geneva, Switzerland (April 18, 2024) – Summit Carbon Solutions (SCS) and Gold Standard are pleased to announce a significant milestone in the journey towards decarbonization. After a rigorous two-year process, the Methodology for Biomass Fermentation with Carbon Capture and Storage (BFCSS), developed by SCS with significant support from Anew Climate, has been approved by Gold Standard, and is now available for use. 

The methodology will allow the issuance of Gold Standard’s Verified Emission Reduction carbon credits for BFCSS. The document includes criteria for determining project eligibility, as well as monitoring and quantification protocol for accurately measuring and verifying biogenic CO2 removed through capture and storage. It adheres to Gold Standard’s rigorous requirements for environmental integrity, safeguards, stakeholder engagement, and sustainable development.  

This methodology is the first geologic storage methodology approved by Gold Standard. It facilitates durable carbon dioxide removal (CDR) – meaning that the carbon dioxide will be locked-up for at least 200 years. CDR is required to achieve global and national targets of net zero emissions, and is part of all modeled scenarios that limit global heating to 2°C or lower, according to the Intergovernmental Panel on Climate Change (IPCC).

“We’re grateful for Gold Standard’s collaboration, rigorous process, and commitment to transparency,” said Ben Nelson, Director of Carbon Programs at Summit Carbon Solutions. “They are known throughout the market as one of the leading carbon registries, as evidenced by being one of the first registries approved by the Integrity Council for the Voluntary Carbon Market (IC-VCM), and we are proud to align our project against their robust standards for environmental integrity.” 

“Gold Standard is committed to supporting new technologies that support our global journey towards net zero,” said Margaret Kim, Gold Standard CEO. “Carbon dioxide removal and storage is vital, and our first geologic storage methodology is an important milestone. I thank Summit Carbon for their important work and congratulate them on this achievement.” 

Summit Carbon Solutions and Gold Standard remain committed to maintaining the highest standards of integrity and quality in the carbon markets. With this approved methodology, the company is better positioned to drive meaningful progress towards a more sustainable future.

About Summit Carbon Solutions  

Summit Carbon Solutions is driving the future of agriculture by expanding economic opportunities for ethanol producers, strengthening the marketplace for Midwest-based farmers, and creating jobs. In developing the largest carbon capture and storage project in the world, the company seeks to connect industrial facilities via strategic infrastructure to store carbon dioxide safely and permanently in the Midwest United States. For more information, visit: www.SummitCarbonSolutions.com.   

 

About Gold Standard: 

Gold Standard is an NGO focused on catalysing more ambitious climate action to achieve the global goals through robust standards and verified impacts. The organisation’s focus is on impact rather than a specific mechanism, meaning their standards can support the issuance of carbon credits and other financial tools. 

www.goldstandard.org  

 

Summit Carbon Solutions Contact:
Sabrina Zenor  
515.207.8608  
Media@summitcarbon.com   

 

Gold Standard Contact:   

Jamie Ballantyne

+41 7823 78099

jamie.ballantyne@goldstandard.org.