The Current Landscape of Carbon Offset MRVs and the Case for Precision Soil-Based Solutions

As the urgency to address climate change intensifies, corporations and governments are increasingly turning to carbon offsets as a critical component of their climate action strategies.

As our previous articles have examined, the engines of Carbon Credit offset supply are known as Measurement, Reporting and Verification (MRV) programs.? During 2023 and more recently the integrity of Carbon Credits issued by many well known carbon offset programs has come into question.?

Today we are seeing the emergence of the first fully integrated precision digital MRVs that deliver a much higher standard of transparency, integrity and trust that the regulators are demanding.

This article explores the spectrum of available offset supply chains with technologies that incorporate precision digital MRVs.

Specifically, this article will focus on the merits of soil-based carbon sequestration provided by MRVs like those from Carbon Asset Solutions (CAS), compared to emerging but less immediately available technologies like Direct Air Capture (DAC) and Carbon Capture and Storage (CCS).

The State of Carbon Capture Technologies

Carbon capture technologies, encompassing both CCS and DAC, are pivotal in the long-term strategy to reduce atmospheric CO2 levels. These technologies, however, come with notable challenges:

• High Costs: CCS and DAC operations are currently expensive, with costs ranging from $15 to $335 per tonne of CO2 captured (source: IEA's Direct Air Capture 2022 report), making them less viable for immediate and broad implementation.
• Future Availability: Many DAC projects, such as those planned in the United States and Europe, are still in the developmental or pilot stage, with full-scale operations not expected to commence for several years. For example, significant commercial agreements are forecasting the purchase of carbon removals at prices as high as $350 per tonne, but these are not set to begin until 2030.

Soil-Based Carbon Credits: An Immediate Solution

In contrast to the futuristic promise of DAC and CCS, soil-based Carbon Credits offer an immediate, practical solution for today’s carbon offset needs provided that they are based on accurate measurement (and not estimation modelling), secure data management and efficient and cost effective and consistent audit verification:

• Current Availability: Technologies like those developed by CAS are already operational, providing an immediate pathway to meaningful carbon sequestration through sustainable agricultural and land management practices.
• Cost-Effectiveness: Soil-based carbon sequestration is significantly more affordable than high-tech capture methods, making Carbon Credits accessible and affordable for a wider range of businesses and applications.
• Verified Impact: Companies like CAS ensure that their Carbon Credits are rigorously verified and adhere to international standards, which bolsters market confidence in their environmental impact claims.

Why Consider CAS for Carbon Offsets

Carbon Asset Solutions (CAS) provides a viable and immediate solution to carbon offset needs and enhances corporate capability to handle comprehensive environmental reporting:

• Net Zero Reporting: as companies transition to climate risk and sustainability reporting under new regulations, accessing high integrity and reliable supplies of Carbon Credits will be critical in meeting climate action forecasts and a pathway towards net zero.
• Scope 3 Reporting: the CAS MRV program delivers Carbon Intensity Certificates, which assist food, fibre and biofuel corporations dealing with Scope 3 emissions reporting.
• Precision, Integrity, Certainty: the CAS MRV has full transparency, independent audits and chain of custody reporting for Carbon Credits and climate data, eliminating the risks of corporations not meeting regulatory reporting standards.

Aligning with Global Sustainability Goals

Soil-based carbon sequestration aligns well with numerous United Nations Sustainable Development Goals (SDGs), including climate action, food security, increased biodiversity, economic empowerment of rural and regional communities, and responsible consumption and production.

By adopting soil-based carbon offset solutions, companies can effectively contribute to these global objectives while also enhancing their Environmental, Social, and Governance (ESG) profiles.

Conclusion

As the world seeks effective strategies to mitigate climate change, the choice of carbon offsets plays a pivotal role. While DAC and CCS continue to develop, soil-based offsets developed under a precision digital MRV offer a ready-to-implement solution that can bridge the gap between current capabilities and future innovations.

For those committed to making an immediate positive impact, embracing soil-based carbon sequestration is a sound strategic decision.

This educational overview underscores the need for a balanced approach to carbon management, integrating both innovative future technologies and proven current methods to create a robust and multifaceted climate strategy.