Isometric, a leading carbon removal registry, has introduced a new protocol designed to advance CO₂ removal within the mining industry. The protocol, which outlines how to effectively remove carbon dioxide from the atmosphere through ex-situ mineralization of mine tailings and waste rock, aims to contribute to global carbon reduction efforts.

Protocol Focuses on Accelerated Weathering Process

The Open System Ex-Situ Mineralization (OSEM) Protocol, developed by Isometric’s in-house science team with contributions from expert advisors at WSP, RMI, Heriot-Watt University, and Cardiff University, focuses on accelerating the natural weathering process. This process enables the formation of a reaction with alkaline material and atmospheric CO₂ and ensures long-term CO₂ storage over thousands of years.

The OSEM protocol is public consultation till 20 January, 2025 to enable public suggestions on the methodology used by this protocol.

Industrial By-Product Utilization: Flexible CO₂ Removal

The protocol enables the use of industrial by-products, like mine tailings, steel slag, and waste cement, as feedstocks for CO₂ removal. Thermal, chemical, and physical processes treat these materials to enhance their ability to absorb and store CO₂.

This flexibility in feedstocks provides an innovative way to repurpose waste materials while contributing to carbon sequestration.

Regulatory Compliance and Monitoring Standards

Isometric designed the OSEM protocol to comply with existing mining regulations for managing tailings and waste rock effectively. This alignment ensures that carbon removal activities under the protocol comply with both local and international environmental standards.

The protocol also includes guidelines for monitoring, reporting, and verification (MRV) to track CO₂ removal performance. These standards apply to both active and decommissioned mine sites.

Also read: Isometric and Pachama Collaborate on Digital Monitoring for Reforestation Credits

Support from Carbon Removal Suppliers

Arca, a carbon removal supplier using remote-controlled rovers for mine tailings, contributed valuable insights to developing the OSEM protocol.

Dr. Greg Dipple, co-founder and Head of Science at Arca, said, “Developing a CDR pathway to leverage alkaline industrial waste streams, such as that produced by certain forms of mining, can be a low-cost and highly scalable way to remove a materially significant amount of carbon dioxide from the atmosphere.” 

Pathway to a Greener Future

The OSEM protocol provides a promising way to reduce CO₂ emissions in mining, a major source of greenhouse gases. The protocol helps mining operations boost CO₂ absorption using industrial by-products, offering a cost-effective, scalable path to carbon neutrality.

The protocol is now open for public consultation, allowing the mining industry and global stakeholders to influence carbon removal strategies.

Sumitomo Mitsui Banking Corporation (SMBC) and Power Grid Corporation of India (POWERGRID) have signed a green loan contract. The loan has a $200 million value and a $150 million greenshoe option, denominated in Japanese yen. This partnership will develop infrastructure to evacuate and integrate renewable energy sources into the national grid.

Strategic Collaboration

The green loan agreement will be a strategic partnership between POWERGRID and SMBC. The funds to be mobilized will ensure constant grid reliability and promote renewable energy projects pan-India. This supports India’s drive to transition from non-renewable to renewable energy sources.

Officials signed the agreement at GIFT City in Gandhinagar, Gujarat, on December 31, 2024. Senior officials from SMBC and POWERGRID attended the signing event. Among them were important SMBC representatives and G. Ravisankar, Director (Finance) and L.K. Khajkumar, ED (Corporate Planning) from POWERGRID.

Also read: ADB and India Collaborate to Boost Climate-friendly Infrastructure with $500 Million Loan

POWERGRID Completes Shareholding Transfer to PGInvIT

In a separate move, POWERGRID transferred 26% of its residual equity shareholding in four associate companies to POWERGRID Infrastructure Investment Trust (PGInvIT).

The companies involved include POWERGRID Kala Amb Transmission Ltd., POWERGRID Parli Transmission Ltd., POWERGRID Warora Transmission Ltd., and POWERGRID Jabalpur Transmission Ltd. The total consideration for this transfer is approximately INR 506.62 crore.

A regulatory filing states that POWERGRID no longer owns any stock in these businesses, and these businesses no longer consider POWERGRID as a partner. As part of its continuous efforts to streamline its asset management and concentrate on its core business, POWERGRID is making this move.

Supporting India’s Renewable Energy Transformation

The money raised through the green loan will be critical to the renewable energy transformation of India. As India increases its renewable energy capacity, evacuation and integration into the grid requires stronger infrastructure. POWERGRID is best positioned to meet this challenge because it established deep roots in power transmission

The partnership between POWERGRID and SMBC also indicates the increasing role of green finance in the renewable energy sector. With more financial institutions supporting sustainable development, projects like this green loan will accelerate India’s transition to a low carbon economy.

Such collaboration highlights the necessity of green finance in the path toward a more sustainable and less carbon-intensive future. The most recent equity transfer to PGInvIT also further underscores POWERGRID’s ongoing measures to streamline and optimize its operation and asset use.