June 2026
This report examines the importance of accurate, harmonized, and robust carbon accounting and reporting for the effective scaling of carbon capture and storage (CCS) and engineered carbon removals (ECR).
It reviews existing carbon accounting and reporting frameworks at the national, corporate, and project levels, identifying challenges, gaps, and opportunities for improvement. The paper is exploratory in nature and aims to support further discussion on enhancing current approaches.
The growth of CCS and ECR depends on diverse business models, many of which rely on credible carbon crediting mechanisms and functioning compliance and voluntary carbon markets.
These markets require transparent and reliable accounting systems to ensure the integrity of carbon transactions and build stakeholder confidence. Because CCS projects often involve multiple actors, activities (capture, transport, and storage), and jurisdictions, comprehensive accounting and reporting systems are essential to accurately track emissions reductions and removals across the entire value chain.
The report is organized into several chapters.
02
Chapter 2 reviews national greenhouse gas (GHG) inventory reporting requirements and emerging methodologies for carbon dioxide removal technologies.
03
Explores corporate accounting and reporting practices for CCS and ECR, drawing on frameworks such as the GHG Protocol and LSR Standard to illustrate current approaches. It highlights challenges and potential gaps in accounting for emissions, reductions, and removals.
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Chapter 4 focuses on project-level accounting within compliance and voluntary carbon markets.
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Chapter 5 summarizes findings and opportunities for greater harmonization and updates to existing reporting methods.
