What DNV looked for before buying permanent carbon removal
In October 2026, DNV received its first carbon removal credits from Inherit Carbon Solutions. We spoke to Ellen Skarsgård, Head of Sustainability Development and Climate at DNV, who led the procurement process, about what DNV looked for, how it assessed the risks, and why it decided to enter the market.
Photo: DNV/Espen Sturlason
DNV knows a thing or two about carbon capture and storage. The company has worked with these technologies for more than two decades, and its researchers publish the annual Energy Transition Outlook, which provides an independent forecast of how the global energy system is likely to develop and what this means for the pace and scale of decarbonisation. But when DNV decided to purchase permanent carbon removal for its own climate strategy, it was entering new territory.
For years, DNV had compensated for emissions through forestry projects. While the company remains committed to protecting and restoring forests, they would like to supplement this with more permanent carbon removals.
“We believe it is really important that we protect and restore forests, and we continue to invest in this”, says Ellen Skarsgård. “But we would like more transparency in that market. We spend a lot of time researching and selecting projects. This is also why we initially approached Startuplab in Oslo to explore whether startups could help address this.”
That was how the company came across Inherit, which was developing a solution to capture biogenic CO2 from biogas production and store it permanently underground.
The technology was a good fit with DNV's own research and company strategy.
DNV's research indicates that carbon removals are likely to play an important role alongside deep emissions reductions in achieving net-zero ambitions.
“There is no regulation that requires us to do this, and we have to reduce our own emissions first. But if we need carbon removals to reach net zero, we are going to have to invest in those technologies, develop them, scale them and mature them now. Otherwise, they are not going to be there when we do need them.”
Ellen Skarsgård
Head of Sustainability Development and Climate at DNV
How DNV assessed Inherit
As DNV's first carbon removal purchase, the agreement with Inherit required a new approach to due diligence. The process consisted of three main elements.
First came the technical assessment. DNV engaged their own CCS consultants with international experience evaluating carbon capture and storage projects to review Inherit's technology and the proposed value chain, from capture and liquefaction to transport and permanent storage.
The assessment considered technology readiness, identified risks at each stage and examined whether appropriate mitigation measures were in place.
The second part was legal due diligence, covering Inherit's corporate structure, financing and contractual risks. The objective was to understand which risks could be addressed through the contract.
Finally, DNV established an internal steering committee with representatives from management, finance, group research and development, and the relevant business area. The internal discussion also evaluated the company and the team behind the project. “Do we trust that team to deliver? Do we trust that team with our reputation?”
The committee reviewed the findings, discussed the risks and prepared a recommendation for DNV's CEO.
Technology and trust mattered more than project maturity
One of the more interesting findings from our conversation was how DNV weighed the different risks.
“Technology maturity mattered a lot. More than project maturity. And the company, the team: that matters more than the project maturity itself.”
For DNV, the decision was purpose-driven and a long-term investment in a technology the company believed would be necessary to achieve net zero.
That gave DNV some flexibility on timing. What mattered more was confidence in the underlying technology and the people responsible for delivering the project.
DNV had also considered other carbon removal technologies. Direct air capture still needs to solve issues on energy use and cost, while biochar presented uncertainties around the maturity of use cases in the agricultural sector. These are areas DNV is exploring through its own research and projects.
Managing potential conflicts of interest
As a company that provides independent assurance and verification services, DNV also had to consider how its role as a carbon removal buyer might affect its independence.
“With regards to Inherit, we are very clearly a buyer. We are not verifying the credits themselves. That is really important to us, to be clear on our role and potential conflict of interest there.”
The distinction was important enough to be addressed explicitly in the contract, including provisions governing the use of DNV's name and logo.
DNV's purchase of carbon removal from Inherit does not constitute an endorsement or verification of the credits by DNV. Its role in the transaction is that of a customer.
Carbon removal from DNV's own neighbourhood
In October 2026, DNV received its first carbon removal credits from Inherit.
The CO2 originates at Veas, a wastewater treatment facility serving more than 800,000 people in Oslo, Bærum and Asker. It is captured and liquefied on site, transported by Litra using biogas-powered trucks, and permanently stored approximately 2,600 metres beneath the North Sea seabed by Northern Lights.
The removals are independently verified and issued as CORCs on the Puro.earth registry, with documentation covering the full value chain.
DNV had evaluated projects internationally before choosing Inherit. Several alternatives faced regulatory uncertainty or significant development risks, while the established Nordic regulatory framework offered greater confidence.
The fact that the project was located close to DNV's headquarters in Høvik was an added benefit, rather than a deciding factor.
“It is quite cool to be able to say it is down the road. We can go and see it. It is connected to our headquarters' own wastewater.”
Advice for companies considering carbon removal
We asked Ellen what advice she would give other companies considering their first purchase of permanent carbon removal.
Her first recommendation was to establish a clear internal rationale for the investment, rather than treating it simply as another carbon credit purchase.
“Taking the time to anchor internally why this is part of your climate strategy is really important. If that internal anchoring and the reasoning why are there, the decision is easier to defend when the external context changes.”
Her second recommendation was to allow for uncertainty in project timelines.
First-of-a-kind carbon removal projects involve new infrastructure, permitting processes and transport arrangements. Delays are not unusual, even when the underlying technology is well understood.
For companies planning to use carbon removal as part of their net-zero strategy, the implication is straightforward: waiting until removals are needed may be too late.
“Ellen found us before we were really a company, and the questions she asked shaped what we built. Being assessed by a buyer who does this professionally was the most useful thing that happened to us in our first year.” - Kaja Voss, CEO of Inherit