Supercritical’s Post

Amazon purchases carbon removal credits and invests in CarbonCapture to accelerate DAC “Amazon is making two significant investments into the carbon capture industry in order to accelerate the development of direct air capture. The first investment is their agreement to purchase 250,000 metric tons of carbon removal credits from STRATOS over the next 10 years. STRATOS is 1PointFive’s first DAC plant and this is the company that they will purchase the credits through. The carbon purchased through this agreement will be stored in underground saline aquifers. In return to Amazon within this agreement, 1PointFive will use Amazon’s Web Services to analyse their performance data as it happens and use the data it gathers to improve its future developments for more plants around DAC. The second focus is Amazon’s Climate Pledge Fund investing in CarbonCapture Inc. who are a climate technology company known for their modular DAC systems. These systems are very clever as they are designed to be upgraded over time by including next-generation sorbents, which will enable cost reductions within the DAC industry as the sorbents become more available. This will mean that the more CarbonCapture optimize their sorbent performance within the DAC system, the more the cost of DAC will be reduced. Similar to the agreement between 1PointFive and Amazon, in return for the investment, CarbonCapture will make 100,000 tons of carbon removal credits available to Amazon. Amazon then plans to make these credits available to the rest of their company and also available to their suppliers, selling partners and customers. This makes it clear that the investment into DAC which amazon has made will benefit many more companies than just those dedicated to DAC.” Energy & Sustainability Center (CES) https://lnkd.in/gtEdUea5

In the world of Carbon Accounting, the terms 'Carbon Neutral' and 'Net Zero' hold significant weight, yet they are often misunderstood or used interchangeably. My recent article breaks down these key concepts, their distinct roles and how carbon accounting will play a vital role for businesses of all sizes in the drive to reach Net Zero. I'd love to hear your thoughts on the topic. #CarbonAccounting #NetZero #CarbonNeutral 

Two years ago, the Intergovernmental Panel on Climate Change designated carbon dioxide removal a necessary component of plans to limit warming. While the nascent field was already making steady progress, that movement has accelerated in the years since. And — just as it was in the early days of solar power purchase agreements — Big Tech has been integral to the market's growth. Companies like Alphabet Inc., Salesforce, and Microsoft signed onto the Biden administration's First Movers Coalition in late 2021, committing to purchase at least 50,000 tons of "durable and scalable" carbon dioxide removal by 2030. 2022 saw the creation of Stripe-led advance market commitment Frontier, and 2023 brought Amazon into the CDR arena. It hasn't all been smooth sailing, though. In the same period, the CDR market has moved through cycles of excitement that gave way to slowing demand and corporate withdrawals, and has been marred by revelations about shaky offset schemes. This is the dichotomy of the market: the tech, the policy, and the investment are all progressing rapidly. And yet, progress on the goal outlined by the IPCC — up to 10 gigatons of removal by 2050 — has been minimal. "We are not even close to that. We need so much more speed to market and so much more cost reduction, so much more investment," said Julio Friedmann, chief scientist at carbon management firm Carbon Direct. "We are not on track. And people who can do arithmetic know this." For more coverage on the new frontiers of climate technology, and updates from our news team, subscribe to our weekly newsletter! ➡ https://lnkd.in/guxh2nYs #carbondioxideremoval #CDR #climatetech #technology #energytransition #energy #IPCC #carbonneutral #carbonmanagement #cleanenergy #climatechange

Amazon is making its first investments in DAC—a critical technology in the fight against climate change. To help accelerate the development of direct air capture (DAC) solutions, Amazon is purchasing carbon removal credits from 1PointFive and investing in CarbonCapture Inc. This DAC investment is part of Amazon's Climate Pledge commitment to reach net-zero carbon emissions by 2040. Here's more about this emerging technology and what it means for our environment. #renewableenergy #energy #climatechange 🌍

We are excited to be one of the first purchasers of permanent carbon removal via Stripe’s new Climate Orders. As a venture investor, Kinnevik wants to support carbon removal technologies in the early stages of commercial development with the aim of furthering the industry for high-integrity carbon removals. Stripe’s Climate Orders is a great fit as our primary goal is to contribute towards global net zero.   Stripe’s Climate Orders allows us to purchase from the Frontier offtake portfolio, which focuses exclusively on the most innovative permanent carbon removal technologies ready to rapidly scale. Frontier’s portfolio of carbon removal technologies is vetted against target criteria, including the ability to store removed carbon for more than a thousand years and the potential to be low-cost and high-volume in the future. The portfolio includes a combination of: direct air capture, biomass carbon removal and storage, and other pathways as they become offtake ready.

Yesterday, the EU's Industrial Carbon Management strategy was published. No time to read the whole document? No worries: Here comes a 5 point summary. ⭐ 𝐄𝐔 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐍𝐞𝐮𝐭𝐫𝐚𝐥𝐢𝐭𝐲 𝐛𝐲 2050: The strategy emphasizes the EU's commitment to achieving climate neutrality by 2050, outlining the need for an industrial carbon management strategy to complement greenhouse gas (GHG) emission mitigation efforts. It highlights the role of industrial carbon management in decarbonizing production processes across key sectors, marking a crucial step towards a sustainable and competitive European economy. ⭐ 𝐃𝐞𝐜𝐚𝐫𝐛𝐨𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐏𝐚𝐭𝐡𝐰𝐚𝐲𝐬 𝐚𝐧𝐝 𝐓𝐚𝐫𝐠𝐞𝐭𝐬: The strategy introduces three main pathways for industrial carbon management: Carbon Capture and Storage (#CCS), Carbon Capture and Utilization (#CCU), and Direct Air Capture (#DAC) for removing CO2 from the atmosphere. It sets ambitious targets, including storing 50 million tonnes of CO2 geologically by 2030 and capturing approximately 280 million tonnes by 2040, to significantly scale up efforts towards the 2040 and 2050 climate goals. ⭐ 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Acknowledging the scale and investment required, the strategy outlines the need for significant financing support and innovation. It proposes creating an enabling environment for developing and scaling industrial carbon management technologies, including setting up a CO2 transport infrastructure as a key enabler for #CCS and #CCU pathways. ⭐ 𝐏𝐨𝐥𝐢𝐜𝐲 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐚𝐧𝐝 𝐒𝐮𝐩𝐩𝐨𝐫𝐭: The strategy envisions a comprehensive policy framework to deploy industrial carbon management solutions, focusing on deploying CO2 transport infrastructure for a single market (!) for CO2, incentivizing carbon capture and storage, and promoting the use of captured CO2 as a resource. ⭐ 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐂𝐨𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐮𝐛𝐥𝐢𝐜 𝐄𝐧𝐠𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Recognizing the global scale of the challenge, the strategy calls for EU-wide cooperation to promote harmonized reporting and accounting of industrial carbon management activities. It also emphasizes the importance of public awareness and engagement to build broad support for carbon management technologies as legitimate and economically promising pathways towards EU climate neutrality. So I guess there will be more work for the CCS social science researchers under us (Elisabeth Dütschke, Sabine Preuß, Ana Prades) Key Takeaway: The is finally on track to implement a carbon management strategy, which is key and needed. I hope this will start reducing the exodus of promising direct air startups from Europe. Big thanks to Krzysztof (Chris) Bolesta and team to get this developed and out. What do you want to add? Do you think that it is more than a wish-list as suggested by some people in the CCS bubble? (Mark Preston Aragonès, Eadbhard Pernot)

🌍📈 Dive into the Carbon Offsets Thematic Intelligence Report to grasp the rapid growth of the market since 2015! Major players like Microsoft are shifting towards tech-based carbon removals, steering away from nature-based offsets. Discover how these offsets can aid in claiming carbon neutrality and paving the path towards net zero. Uncover the debate surrounding the quality of offsets and explore the rise of technology-based carbon dioxide removal projects. Let's navigate the journey towards a greener future together! https://lnkd.in/dEh-f-YH #netzero #carbonoffsets #netzero #sustainability

‘NET ZERO’: do you know, what this term means? Or ‘LOW CARBON’? Or ‘CLEAN ENERGY’? If you're having trouble understanding the buzzwords, take a look at my article ‘Sustainability and Decarbonization: What Language Are We Speaking?’ https://lnkd.in/ewiyhYx9

🌍📈 Dive into the Carbon Offsets Thematic Intelligence Report to grasp the rapid growth of the market since 2015! Major players like Microsoft are shifting towards tech-based carbon removals, steering away from nature-based offsets. Discover how these offsets can aid in claiming carbon neutrality and paving the path towards net zero. Uncover the debate surrounding the quality of offsets and explore the rise of technology-based carbon dioxide removal projects. Let's navigate the journey towards a greener future together! https://lnkd.in/gnja7Yya #netzero #carbonoffsets #netzero #sustainability

Innovative technologies are emerging to address climate change. We’re involved too, greening the gas supply with renewable natural gas and hydrogen; powering industry with hydrogen and blended natural gas, combined with carbon capture. #EnergyFuture #EnergyEvolved