🛫 Today, CUR8 is delighted to announce a landmark deal with British Airways to buy and manage a $11 million portfolio of 33,000 high quality carbon removal credits. The deal represents the largest purchase of durable carbon removal by any UK business, and makes British Airways the largest purchaser among global airlines. It also signifies one of the largest multi-year commitments by any business to purchase from a balanced portfolio of carbon removal projects. This initiative recognises the pivotal role that carbon removals will play in decarbonising aviation and similarly hard-to-abate sectors. BA anticipates that one-third of its net-zero pathway to 2050 will be delivered through carbon removals, with the rest coming from aircraft, operational efficiencies and sustainable aviation fuels. CUR8 will manage a portfolio of six innovative global projects, each designed to overcome barriers in carbon removal and support BA's net-zero goals. Through this initiative, British Airways is not only preparing for future regulatory requirements but also positioning itself as an industry leader in the transition to net-zero aviation. Read our press release here: https://lnkd.in/eSGmHZtN Carrie Harris, Tom Byrne, Sean Doyle
CUR8
Environmental Services
Trusted carbon removals from the world's leading experts
About us
Even if we do everything else right on reducing emissions, the world still needs to remove up to 220 Gigatonnes of carbon from the atmosphere by 2050. You can’t reach net zero without removals. That’s where we come in. CUR8 is dedicated to building the global market for carbon removals. We’re not a marketplace. We work with the best nature and technology partners to build removals portfolios of the highest quality, and help get us on the exponential pathway to reach 10 billion tonnes per year of removals by 2050.
- Website
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http://cur8.earth
External link for CUR8
- Industry
- Environmental Services
- Company size
- 11-50 employees
- Headquarters
- London
- Type
- Privately Held
- Founded
- 2022
- Specialties
- Carbon Markets, Carbon Removal Credits, Carbon Removals, and Carbon Removal Portfolios
Locations
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Primary
London, GB
Employees at CUR8
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Mark Stevenson
CoFounder and Chief Impact Officer, CUR8, ambassador Client Earth, Impact Board Chair, Climate.vc, Author
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Vitor Santos
Principal Product Designer @ CUR8 | Experience Design
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André Barrence
Head of Google for Startups - Latin America at Google | Speaker | Investor and Board Member | Triathlete
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Dominique Airey
CCO @ CUR8 I Board @ ClimateEd I Ex founder & non-profit CEO I Climate & social impact 🌍
Updates
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CUR8 reposted this
🌃 New York Climate Week, it's been real! It is questionably the most important week in the year for us at CUR8. It might just be because it's the week when all climate and corporate decision makers come together in one place, but I also can't help but wonder (see what I did there 👩💻) if it's the energy of this incredible city that makes people not only listen, but be ready to act. I am incredibly grateful to our clients, partners and friends at British Airways, Standard Chartered, Puro.earth, Xpansiv, Goals House, PwC and more, for the platforms to share our recent news, from the largest portfolio offtake to date to the first-of-a-kind financing for carbon removals, and de-risking long term offtakes for maximum impact. I left New York tired but inspired, pockets full of business cards and head full of ideas on the following themes: - 🌿 Climate is important but it's so are social impact and nature; it's no coincidence that UNGA and Climate Week happened at once this year. While engineered carbon removals often get all the attention, nature based removals can provide vital co-benefits that lift communities out of poverty and hugely contribute to biodiversity. - ✅ Exciting updates await from SBTi and other rule-setters like ISO to help guide corporates on their net zero strategies. Spoiler alert: there's no net zero without carbon removals, and we should be starting now. - 📊 We really need to get the attention of accountants and auditors. Clarity on how carbon removals behave on balance sheet, as well as quantifying the 'risk to net zero' future liabilities could be the most powerful unlockers of corporate commitments and capital. - 🔜 We should champion the industry leaders and build coalitions of fast followers. I've seen so much interest off the back of our recent multi-million announcements; it's clear that some large corporates need safety in numbers. Special thanks to my incredible team and many of the friends and colleagues, old and new Carrie Harris Sean Doyle Tom Byrne Chris Leeds Charlotte Love Antti Vihavainen Julie Kitcher Charlotte Hutchinson Russell Karas Nick Gogerty Gyozo David Ungar Alan Thomson Ryan Fan Thomas W. Crowther Stephen King Gail Gallie Craig O'Boyle Neha Manaktala Luke Connell Vikas Chhajer Matt Isaacs
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CUR8 reposted this
Innovative financial mechanisms that move capital into emerging areas of sustainability will be transformative in our efforts to reduce emissions and remove carbon from the atmosphere. Connecting capital to these new solutions is challenging. It requires new ways of thinking, steadfast ambition, and most importantly – bold partnerships. So, it brought me great pleasure to bring many of our partners together yesterday for an inspiring discussion on how we can build a roadmap for first-of-a-kind financing solutions. This discussion highlighted a real example of climate leadership, borne out of the power of partnership between Standard Chartered, British Airways, and CUR8. Presented by Chris Leeds and Marta Krupinska, we unpacked the recent closure of a deal with British Airways and UNDO, which has allowed a bank, for the first time, to offer commercial debt to a carbon removals project developer. This could pave the way to help scale the carbon removals industry. This deal would not have been possible without the leadership of Carrie Harris, CSO of British Airways, nor without the collaborative efforts of our teams to deliver this milestone outcome. In sharing learnings and insights from this work, we hope to have inspired new opportunities to identify and scale first-of-a-kind financing solutions. Thank you, Ely Sandler from the Harvard Kennedy School, for chairing this discussion and to all who joined us in a packed room on the 36th floor in our New York office. #ClimateWeek #NYC #innovation #carbonremovals Bill Winters Zarak Pasha, CFA Charlotte Love
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CUR8 reposted this
Congratulations Rachel Kyte and the UK government on a brilliant appointment. It was great to see you yesterday in NY and hear your insights on where climate action really needs to go. Looking forward to working with you on these next crucial steps. https://lnkd.in/e6nakwUk
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What a way to kick off New York Climate Week! On Monday evening, our team joined industry leaders at Goals House for a dinner hosted by British Airways to celebrate our recent multi-year carbon removal partnership, and set the stage for what's to come. Our co-founder and Chief Scientist, Gabrielle Walker, shared the stage Solitaire Townsend, Co-Founder of Futerra, Paul Kennedy, VP Carbon Solutions at 1PointFive, and Carrie Harris, Director of Sustainability at British Airways. The message was clear: the time for action is now. Through their landmark deal with CUR8, British Airways is not just investing in carbon removals — they're investing in a sustainable future and paving the way for industry-wide change. The multi-year structure of the deal, which involves purchasing removals over six years and a steady flow of credits from projects that drawdown carbon over the next 25 years, provides British Airways with a clearly defined path into the carbon removals market, by backing a diverse range of removals technologies in line with its 2050 net zero goals. At CUR8, we are proud to be at the forefront of this initiative and look forward to continuing our work in advancing carbon removal solutions! Check out our press release here: https://lnkd.in/esTEzR_Y Sean Doyle, Carrie Harris, Tom Byrne, Dominique Airey, Marta Krupinska, Gabrielle Walker, Drew Fitzpatrick, Cameron Scott
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We're very pleased to announce that CUR8 is co-hosting a drinks event with Standard Chartered next week during New York Climate Week to mark a great milestone in carbon removal financing! This event marks the successful completion of the world’s first debt financing solution for carbon dioxide removal projects, developed in collaboration with British Airways, Standard Chartered, and UNDO, to support suppliers in scaling their operations and facilitate easier market entry for buyers. Read about the transaction in the Wall Street Journal: https://lnkd.in/e4XvFJz3 Interested in meeting with CUR8 during New York Climate Week? Fill out this form: https://lnkd.in/eYFSe6Pk
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CUR8 reposted this
My colleague Mowgli Holmes and I were at the Carbon Removal Capital Summit in San Francisco last week, setting out the size of the problem carbon removals help to solve. I spoke on my panel about the reasons there's an urgent need to bring the big corporate players along. That’s the ‘why’ part. As Mowgli explained on his panel (the ‘how’ part), we need to find ways to de-risk debt and direct finance to carbon removals projects – all of which needs to be supported by exhaustive due diligence. That’s where we’re really making an impact at CUR8: selecting the right projects, organising the portfolios, and making the market using novel financial tools. Our deal with Standard Chartered, British Airways, UNDO and CFC was clear proof of how corporates can get the CDR they need, and how suppliers can receive the funding they need in return. We’re going to need many approaches to this. What was great to see at the Summit was the enthusiasm and creativity being directed at that core problem: how do we get capital to the companies that are actually pulling carbon out of the air? We’re making progress. Lots of people to mention (bear with me!): Noah Deich, Amy Sims, Rudy Kahsar, Nikki Batchelor, Noel Bakhtian, Lara Pierpoint, Martin Kessler, Lucía Merchán Paúles, Steve Oldham, Rory Brown, Mike Kelland
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🌱 Join us for a workshop at Solutions House next Wednesday during New York Climate Week! This in-person workshop, hosted by Rethinking Removals and Exponential Roadmap Initiative and sponsored by CUR8, is designed for corporate climate leaders to explore effective strategies for operationalising their neutralisation commitments while aligning with emerging guidance and standards. We look forward to seeing you there! https://lu.ma/0e2drpkw Kindly be aware that all registrations are reviewed and approved by our teams.
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🗽 🇺🇸 Less than a week to go before we kick off New York Climate Week 2024! Marta Krupinska, Gabrielle Walker, Dominique Airey, Swarnali Mitra, Drew Fitzpatrick and Cameron Scott from the CUR8 team will be on the ground from the 22nd-27th. Check out some of the events we'll be speaking at and hosting below. Interested in meeting or collaborate with CUR8. Fill out this form: https://lnkd.in/e7hyrMT8
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CUR8 reposted this
Last week, we reached a significant milestone at CUR8. Working alongside British Airways, Standard Chartered and UNDO, we completed a global first transaction to unlock financing for carbon removals at scale. As 2030 corporate Net Zero targets approach, we need carbon removals to scale dramatically and to get us there, we'll need two things happening simultaneously: (1) Firm, long-term commitments from buyers (i.e. offtakes) (2) Real loans that make it easier for suppliers to do the removal and buyers to pay on delivery With this solution, we at CUR8 have built a flywheel for suppliers and buyers; we have also made it easier for banks to enter this market – building a literal bridge to bankability. Read more about how the transaction was designed in our latest blog post [1], and if you are keen to work with us, please reach out. Congratulations, and thank you to all parties for their commitment to getting us through to the finish line since we first announced the pilot last year, as well as to our insurance partners who made underwriting easier. [1] https://lnkd.in/eCsxt_cW #carbonremovals #netzero #sustainability #carbonfinance Carrie Harris, Tom Byrne, British Airways Marisa Drew, Chris Leeds, Zarak Pasha, CFA, Simon Derrick, Gary Lowe, Chris O'Sullivan, Taran L., Audrey GOLDSTEIN, Charlotte Love, Standard Chartered Jim Mann, Ryan King, Chris Zair, Alexandra Bury, UNDO George Beattie, CFC Oliver Colman, WTW Marta Krupinska, CUR8
CUR8, Standard Chartered Bank, British Airways and Partners Deliver Milestone Forward-Financing Transaction to Scale Carbon Removals
cur8.earth