$35 million for carbon removal credits and jettisoning of avoidance? Alphabet Inc., Google's parent company, is taking a leadership position that others should follow 🌍 Alphabet is embracing a more impactful approach to carbon management by prioritizing carbon removal over avoidance credits, as detailed in their latest 2024 environment report. This strategic shift aligns with our belief at Supercritical that, alongside reduction strategies, carbon removal is the only legitimate path to achieving true climate impact. This pivot towards carbon removal reflects a commitment to more permanent and verifiable solutions, and we’re eager to see more strategic shifts like this from other industry giants in the future. 📉 Abandoning avoidance credits: Alphabet’s decision to eliminate avoidance credits underscores a growing recognition of the limitations and challenges associated with these offsets. ⚖️ Goodbye to carbon neutrality goals: Starting in 2023, the company is no longer maintaining operational carbon neutrality, through carbon avoidance offsets, instead aiming to neutralize residual emissions with high-quality carbon removal credits by 2030. 💡 Focus on high-quality carbon removal: Alphabet is investing in methods like biomass carbon removal, enhanced rock weathering, and direct air capture. In 2024, they pledged $35 million for carbon removal credits, joined a coalition to contract 20 million nature-based removal credits by 2030, and signed three carbon credit offtake deals for 62,500 tonnes of CO2e for delivery by 2030. Not enough businesses are taking their net zero commitments seriously - of the 7,892 SBTi signatories only 334 are purchasers of CDR. Something doesn't add up. Our mission has always been to support companies in navigating the complexities of the carbon removal market with confidence and transparency. We believe that with more companies adopting similar strategies, we can collectively make a significant impact on our planet. #CarbonRemoval #Sustainability #NetZero #ClimateAction #Supercritical #CDR #CarbonNeutrality #GreenTech
Lydia Chen this will be of interest
This is so insightful!
More on our take here: https://www.linkedin.com/posts/michelleyou_cdr-from-now-to-net-zero-supercritical-activity-7173660934396067841-_NAH?utm_source=share&utm_medium=member_desktop