Forging Trust for Carbon Removal: Carbonfuture and Collaborate to Scale CDR

Carbonfuture, the pioneering end-to-end platform for carbon removal credits, has partnered with, a leading carbon removal standard and registry. Their goal is to further scale up durable and high-quality carbon dioxide removal, commonly known as CDR. 

Partnering with will allow Carbonfuture to grow its ecosystem of 3rd-party standards for carbon removal. It will also enable the company to integrate certified projects into its unique Trust Infrastructure.  

From Gate to Grave: Pioneering Trust in Carbon Removal

As the Trust Infrastructure for durable carbon removal, Carbonfuture is providing crucial tools and technological infrastructure needed to scale CDR with trust. The company works through a Trust Framework outlining the 5 key dimensions of trust – transparency, quality, impact, innovation, and collaboration.

Carbonfuture’s Trust Infrastructure includes two essential components: Carbonfuture MRV+ and Carbonfuture Marketplace. 

Carbonfuture MRV+ provides a coherent end-to-end CDR supplier experience, from project support services to due diligence to tracking. Carbonfuture Marketplace enables CDR suppliers to find buyers looking for verified, high-quality carbon removal credits. It’s built on data-driven tracking and third-party certification standards. 

Highlighting the significance of the Trust Infrastructure for, its CEO, Antti Vihavainen, noted that:

“Carbonfuture’s CDR Tracking offers additional transparency of the carbon removal process from gate to grave, confirming alignment with the Puro Standard methodology requirements… we are delighted to see the integration of certified projects in the Carbonfuture Marketplace.”

By integrating into Carbonfuture’s Trust Infrastructure, Puro suppliers will now have access to the largest carbon removal marketplace. They can then find buyers for their verified CDR credits. 

The Puro Standard for engineered CDR in voluntary carbon markets follows robust, science-based quantification methodologies for carbon removal technologies. These include biochar, enhanced rock weathering (ERW), and direct air capture, among others. 

The Puro Registry then issues the CO2 Removal Certificates (CORCs) that enable transparent tracking of credits from issuance to retirement. This, in turn, brings confidence to buyers because the Puro Standard is the first ICROA (International Carbon Reduction and Offset Alliance) endorsed standard for durable CDR. 

In February last year, Nasdaq launched three carbon removal price indexes based on CORCs.

Earlier this month, the largest open data platform for CDR reported that carbon removal purchases jumped 437% for the first half of this year versus full year 2022, with Microsoft as the top buyer.

Collaboration is Key in Scaling Up CDR

The collaboration between and Carbonfuture is based on their shared mission to advance carbon removal technologies

Their deal fuses Carbonfuture’s technological infrastructure that ensures trust in the carbon removal process and’s leading CDR Standard, plus 120+ registered CDR suppliers. 

To date, has retired 197,000 tons of CO2, at 174 EUR per ton of CO2 removed.

Carbonfuture’s CEO, Hannes Junginger-Gestrich, noted that their new setup will help carbon removal suppliers seamlessly go through the certification process and expand their market, “while providing buyers with the assurance to confidently purchase carbon removal credits”.

Carbonfuture and’s partnership involves two significant elements:

Facilitation of sale of CORCs via the Carbonfuture Marketplace. By integrating Puro Standard into Carbonfuture’s CDR Tracking, suppliers can track their CDR efforts, from carbon removal to storage. This ensures that the issued carbon removal credits are reliable and of high quality. 
Carbon removal suppliers will be guided how to get their projects certified by the Puro Standard through Carbonfuture’s Carbon Removal Supplier Services.

Last month, also entered into a giant merger with Xpansiv in an effort to scale carbon removals. 

These partnerships assert the significance of collaboration among key players in the CDR industry to bring more transparency and trust. By working together, Carbonfuture and are uplifting carbon removals while ensuring that CDR offers a solution to combating climate change and bringing the world to net zero emissions

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Barbie’s $1.3B Movie and Green Shift: Hollywood Meets Sustainability

Once the epitome of pink dreams and plastic shoes, Barbie is going Hollywood and embracing eco-friendly and sustainability aspirations, particularly on reducing carbon and plastic footprint.  

Mattel’s iconic doll, known for her fashion statements and a multitude of careers, has made her theatrical debut with a splash in a star-studded Barbie movie. While box office figures are still rolling in (approx. $1.3B as of this writing), the real story is perhaps in how Barbie is taking on the green revolution.

Let’s rewind a tad to a juicy piece of fake news that recently stirred quite the commotion. 

Plastic-Free Barbie Hoax

An elaborate hoax, led by none other than the audacious climate pranksters, the Yes Men, announced a ‘plastic-free Barbie.’ This grand spectacle, complete with a faux ad featuring climate activist Daryl Hannah, was, in fact, an attempt to draw attention to Barbie’s plastic footprint. 

With almost 60 million dolls sold each year, Barbie parent brand, Mattel, consumes a lot of plastic. Since the doll’s creation in 1959, more than 1 billion Barbies have been sold globally.

As per the carbon emissions calculator, Greenly, these sales generate emissions of about 39,000 tons of carbon dioxide equivalent. Greenly based its estimations on research that investigates the carbon footprints of some children’s plastic toys, including Barbie.

According to the study, a 180g Barbie doll using plastics derived from crude oil emits 648g CO2e over its entire life cycle. In comparison, the Lego Star Wars toy has emissions of 537g CO2e while a Catwoman Lego set has 755g CO2e

However such carbon emissions data didn’t consider the entire Barbie universe, which includes other plastic Barbie items like houses, cars, airplanes, and more. 

The authors also noted that 92% of American girls aged 3-12 own an average of 12 Barbie dolls. That translates to 7,776g or 7.8kg CO2e per child.

The push for sustainability propelled the Barbie maker to shift to reusing and recycling plastic wastes that would have ended up in the oceans.

It was in 2021 when Mattel launched a range of Barbies made of recycled plastics. By the next year, a genuine collaboration with the Jane Goodall Institute saw the birth of carbon-neutral-certified Barbies crafted from recycled ocean-bound plastic.

This lineup showcased both a renowned ethologist and conservationist, Dr. Jane Goodall doll, and an Eco-Leadership Team – a potent nod to careers championing sustainability. With roles like Chief Sustainability Officer and Renewable Energy Engineer, Barbie seemed to say, “Hey, not only can you dream it, but you can also do it sustainably.”

On top of this green wave, another revelation popped up. A friend of John Montgomery, co-author of Shifting Context: Leadership Springs from Within, snapped a fun photo of a Barbie holding their book.

This wasn’t just any Barbie; she was part of the 2022 Career of the Year doll set: the Barbie Eco-Leadership Team. A pleasant surprise to many, this set was reportedly sold out.

Is Plastic Still Fantastic? Barbie’s Net Zero Plans

Mattel is leaping towards net zero commitments like almost every other major corporation. Mattel isn’t lagging with a pledge to reduce its absolute Scope 1 + 2 GHG emissions by 50% by 2030 (vs. 2019 baseline). 

Responding to the hoax, Mattel further noted that they’ve long ago announced their sustainability goals. And that includes the aim to achieve 100% recycled, recyclable, or bio-based plastic materials by 2030. Part of their goals is also to reduce plastic packaging by 25% per product (vs. 2020 baseline) and achieve zero manufacturing waste.

Reducing their plastic footprint is not only beneficial for the environment but for the companies doing it. These companies may be eligible for earning plastic credits. Each plastic credit is equal to one ton of plastic waste that would otherwise have not been collected or recycled. Companies can further leverage plastic credits along with carbon credits to address their sustainability concerns.

Like Barbie, many brands also consider plastic waste reduction as part of their net zero commitments.

Mattel also exceeded its goal to maintain 95% recycled content in the paper and wood fiber they used in their products and packaging, reaching 97.9% in 2021 as validated by the Rainforest Alliance.

Given Barbie’s extensive career history, we bet the Eco-Leadership Team would nudge them for an even swifter stride towards net zero emissions.

From Iconic Pink to Sustainable Green

But beyond the stats and dolls, Barbie’s green venture is more than just eco-friendly playthings. A deeper alliance with the Jane Goodall Institute’s Roots & Shoots program beckons kids to nurture their natural curiosity about the environment and amplify their eco-footprint knowledge.

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In a smart marketing move, a global challenge dubbed #NaturallyCuriousJane encourages young minds to adopt environment-conscious activities like community mapping and amplifying green spaces. Not just that, Barbie’s digital footprint, via their YouTube channel, showcases Dr. Jane Goodall, ensuring that her legacy and teachings ripple through younger generations.

Wrapping it up, from a playful prank about a plastic-free future to genuine strides in sustainability, Barbie’s evolution reflects our world’s shifting paradigms. It’s more than just a movie or a new doll set; it’s a narrative of change, adaptation, and of responsibility.

The next time your kid picks up a Barbie, remember: underneath that iconic pink and plastic facade is now a touch of green, a nod to a sustainable future. 

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Kia to Reuse Plastic from Record 55 Tons of Collected Ocean Trash

South Korean carmaker Kia will use recycled plastic from a record 55-ton reclaimed trash from the Pacific Ocean in its future EV models, marking the company’s efforts for a sustainable mobility solutions provider. The impressive amount of plastic trash is recovered by Kia’s partner, The Ocean Cleanup.

The Ocean Cleanup is an international non-profit organization seeking to rid the world’s oceans of plastic. The team’s record-breaking catch was from the Pacific Ocean and landed at Victoria, Vancouver, Canada. 

Commenting on this significant effort, a Kia executive noted that it shows how technology can drive sustainable solutions at scale. The senior VP further remarked that:

“Initiatives such as this one perfectly align with Kia’s transition to a sustainable mobility solutions provider and our Plan S strategy… by acting as a responsible corporate citizen.”

Kia has set ambitious net zero goals and taken steps to slash its carbon emissions. 

Kia’s Sustainable Mobility Toward Net Zero

The Korean automaker has a strong focus on reducing its carbon emissions. In 2021, Kia declared to achieve carbon neutrality by 2045. To this end, the automaker aims to slash its carbon emissions by 97% compared to 2019 levels by 2045. 

Kia will then look for ways to offset the remaining footprint to make its net emissions “zero” at all levels. The company plans to meet its net zero targets through its so-called 3Ss – Sustainable Energy, Sustainable Mobility, and Sustainable Planet.

A big part of reaching its net zero or carbon neutrality targets, apart from transitioning to full-electric models, is investing in recyclable and eco-friendly materials and technology to lower its emissions and environmental impacts. 

Such strategy includes the brand’s support of The Ocean Cleanup as reflected in the project’s record haul. Recycling of the reclaimed plastic will start shortly with Kia using some of the plastic trash in future models. Recycled plastics will become interior components of Kia’s future fully electric cars.

This move aligns with Kia’s commitment to provide sustainable mobility solutions that have a measurable impact on the environment. It’s something that the carmaker has been doing with its fabrics and carpets from recycled PET and bio-based leather. For instance, in its EV9 model, the car has floor carpet made from fishing nets. 

The Ocean Cleanup’s 7-year partnership will give Kia more resources to recycle and use in its interior car parts.

Plastic Credits from the World’s Largest Floating Waste

The 55-ton record trash was recovered using The Ocean Cleanup’s System 002 extraction technology following a long voyage through the Great Pacific Garbage Patch (GPGP). It’s the planet’s biggest accumulation of floating waste, with a surface area of around 1.6 million sq. kilometers. In other words, that’s equal to more than 4x the size of Germany. 

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The company’s floating systems are designed to capture plastics of all sizes, from microplastics to massive wastes. Their modeling estimates that the cleanup team needs around 10 full-size systems to clear the GPGP.

By deploying fleets of extraction systems, The Ocean Cleanup projects can remove 90% of floating ocean plastic by 2040. 

Right after it brought its recovered trash to shore with System 002, the team revealed its new System 03 technology. This new system is about 3x bigger than its predecessor. So apparently, it can capture more plastic waste at lower costs (per kilo of trash removed). 

The System 03 extraction also has a more sophisticated environmental monitoring and safety technology designed to protect marine life. 

The Ocean Cleanup said it will offset all carbon emissions from its System 002 campaign. The team is also working with Maersk in experimenting with low-carbon fuels for their support vessels. 

Announcing their future plans, Nisha Bakker, a director at The Ocean Cleanup, said that they’re aiming to remove 50% of the GPGP every 5 years, but they can’t do this huge task alone. With that, Bakker further noted that:

“Committed and valued partners, and particularly our global partner Kia, remain essential for The Ocean Cleanup to bring our shared ambitions of plastic-free oceans to reality.”

Their innovative and giant effort of recovering plastics from the oceans in partnership with Kia can make them eligible for earning plastic credits. Each credit is equal to a ton of plastic waste that would otherwise have not been collected or recycled.

They can then leverage plastic credits to address their sustainability concerns or as part of their net zero commitments. 

Kia’s commitment to repurposing 55 tons of Pacific Ocean plastic recovered by The Ocean Cleanup into future EV models symbolizes a pivotal shift toward a more sustainable automotive industry. This initiative scores big both in protecting our oceans and eliminating plastic waste.

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Nvidia’s Accelerated Analytics Can Cut Computing Cost and CO2 Footprint by 80%

Companies are unlocking the potential of green computing to enhance their profits and also contribute positively to the environment. The Nvidia RAPIDS Accelerator for Apache Spark is a game-changer by cutting both costs and carbon emissions by up to 80%. 

Apache Spark is a software used by thousands of companies, including the world’s largest ones to speed up data analytics. 

Nvidia RAPIDS Accelerator’s ability to both improve analytics performance and energy efficiency can help businesses meet their net zero emissions. This innovative solution holds the promise of substantial carbon reductions for corporations and enterprises using Apache Spark.

Increasing Speed, Reducing Costs and Emissions with Green Computing

Not only can the RAPIDS Accelerator cut a company’s carbon emissions by as much as 80%, but it can also deliver 5x faster and cost 4x less on a GPU-accelerated Apache Spark. That means 80% of Fortune 500 companies using Apache Spark can collectively reduce their emissions significantly.

According to its creator Nvidia, each Spark user adopting the accelerator software can reduce a total of 7.8 metric tons of CO2 a year. To put that into perspective, it’s the same as how much a car emits in burning 878 gallons of oil. 

Thus, Nvidia’s RAPIDS Accelerator is a breakthrough in how green computing can help in the fight against climate change. 

What is Green Computing?

Green computing is also called sustainable computing or green information technology (IT), spanning supply chains, from raw materials to recycling. It refers to the practice of maximizing energy efficiency while minimizing the environmental impact of computer chips, systems, and software. 

In their lifecycle, green computing enables tasks through computers to be done for the least energy use possible. Efficiency is usually measured by performance per watt. 

The energy efficiency of computers is crucial because the growing demand for electricity is one of the major culprits of global warming. Though data centers are responsible for only 1% or 200 terawatt-hours of electricity use each year, their growth demands attention. 

In fact, industry estimates show that electricity use can go up to 13% by 2030 while the share of global carbon emissions would be 6% for the same year. 

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This is where green computers can offer a solution as “energy efficiency is a full-stack issue, from the software down to the chips”, says an Nvidia engineer. Indeed, innovations in green computing resonate at every level across the industry with Nvidia taking center stage. 

Green Computers for Net Zero

In a world where more than 70 countries strive to reach net zero emissions, green or accelerated computing emerges as a vital tool in this global challenge.

Major industry leaders like Nvidia are working with companies in various sectors to show the technology’s benefits and potential. 

For example, the computer chip expert works with a renowned financial services company to test its application for real-time fraud protection. The financier aims to cut its carbon emission with accelerated computing so that it aligns with the Net-Zero Banking Alliance

Moreover, Nvidia reported that a large AI supercomputer confirmed the energy efficiency of its green computing tech in May.

Notably, across 4 popular applications, the Perlmutter supercomputer at the National Energy Research Scientific Computing Center (NERSC) demonstrated remarkable energy efficiency gains of 5x on average with Nvidia A100 Tensor Core GPUs.  

NERSC apps got efficiency gains with accelerated computing.

In fact, a weather forecasting application recorded acceleration of almost 10x compared to regular CPUs. These results are proof that green or accelerated computing is powerful in diverse applications. 

Remarkable Testimonies for Accelerated Computing

Other notable testaments of the Nvidia RAPIDS Accelerator came from Adobe, IRS, and AT&T. They all have tested and harnessed the powerful ability and potential of this green computing and information technology. They have experienced accelerated speeds, cost reduction, and remarkable AI model training gains. 

For instance, AT&T was able to process 2.8 trillion rows of mobile data information for only 5 hours – over 3x faster at 60% reduced cost than any previous test. 

According to the company’s AI architect, it would take over 48 hours to process only 7 days of data on CPU clusters. Compared that to the 5-hour result for Nvidia’s accelerator which involved a month’s worth of data. 

So the AI expert suggested that:

“… if a job is taking too long and you have a lot of data, turn on GPUs — with Spark, the same code that runs on CPUs runs on GPUs.”

Adobe also tried Nvidia’s green computing tech on its Intelligent Services platform, a tool helping marketers speed analytics using AI. They discovered that a single Nvidia GPU node can beat a 16-node CPU cluster by 33% while decreasing computing costs by 70% with the help of RAPIDS Accelerator. 

Adobe’s engineers also found out that the same green computing trained an AI model 7x faster than running on CPUs. That represents a 90% cost reduction in training AI models

To validate the gains of Nvidia’s sustainable computing, the IRS reported a 20x speed improvement by using GPU-powered computers. And that’s half the cost of doing it on CPUs. 

The IRS test analyzed over a 3 terabyte dataset, which the accelerated Spark cluster successfully processed. 

Nvidia further eases adoption by offering an accelerated Spark analysis tool, allowing users to explore the benefits without code changes and tailor GPU acceleration to their specific workloads.

As companies tread the path towards sustainability, the fusion of accelerated green computing and initiatives for climate becomes a crucial force. By integrating sustainable technology, like Nvidia’s RAPIDS Accelerator, into their operations, companies can drive profitability, speed up processes, and reduce carbon emissions, contributing to a greener future.

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Revolutionizing Asia’s Carbon Credit Market With 1st Digital Carbon Registry

In a groundbreaking deal, a trio worked together to bring the carbon market to the next level: a carbon reduction solutions provider Carbonbase, HBAR Foundation, and ImpactX. They’re launching Asia’s first digital native carbon registry – the Global Climate Registry (GCR). 

Carbonbase is a climate tech company focusing on providing innovative tools for carbon emission calculation and reduction using advanced technologies. Their goal is to enable effective climate action and has helped large companies such as Schneider Electric, Porsche, and Mercedes, among others in their climate transition journey. 

The HBAR Foundation supports the creation of Web3 communities built on the Hedera public network by helping builders and creators. ImpactX harnesses the power of digital tools and networks to tackle climate change and offer sustainable solutions to environmental challenges. 

Their collaboration seeks to develop a next-gen carbon credit market in Asia-Pacific (APAC). Emphasizing their goal, Carbonbase’s CEO and Founder Max Song remarked during the announcement that:

“By leveraging the robust partnerships of the Hedera network and ImpactX’s visionary product approach for global NGOs, we aim to co-create a next-gen carbon market infrastructure… This innovation [GCR] will boost transparency, credit integrity, and significantly drive market growth, propelling global carbon reduction efforts.”

Simplifying and Boosting Carbon Credit Market in Asia

The APAC region was responsible for over 50% of global carbon emissions in 2022. However, it doesn’t have its own local carbon registry that can facilitate efficient carbon emission reduction projects.

According to Statista, the APAC region emitted around 18 billion metric tons of CO2 last year, up 2% from 2021. That amount is more than the combined emissions of all other regions for the same year.  

To help the region drive down its carbon footprint, the three-party deal will introduce its first digital native carbon registry. The GCR will prompt the acceleration of digitizing the measurement, reporting, and verification (dMRV) process in the carbon credit market. 

The new registry will offer a digital-native experience for carbon project developers to register, auditors to verify, and buyers to purchase carbon credits.

Built on the Hedera Hashgraph network, the carbon registry provides transparent and publicly accessible solutions for emission reduction projects. As such, it offers open access to verified carbon credits. 

Leveraging the Hedera Hashgraph network, carbon credit project developers can gain recognition while providing buyers with improved data reporting. 

GCR will introduce an innovative framework that simplifies accurate MRV of carbon credits, reshaping the carbon market while encouraging more engagement from companies, industries, and governments to collectively fight climate change.

ImpactX has been in the service of global non-governmental organizations by offering digital tools and operational frameworks. 

The company believes that a blockchain-based registry can help boost carbon reduction projects that generate high-quality carbon credits. Their aim is to “offer both project developers and carbon credit purchasers a seamless journey”. 

Unlocking a New Era of Transparency and Trust

The digital native registry will employ the work of The Institute of Electrical and Electronics Engineers (IEEE)’s Committee Standards on MRV Standards for Climate Action as its methodology research counterpart. 

IEEE is the world’s largest technical professional organization advancing technology for humanity, boasting 400,000+ members in over 160 countries. Its global network of technology experts drives inventive solutions to address critical global challenges with 1,300 industry standards.

Working with IEEE will allow GCR to help carbon initiatives to measure, report, and verify their impacts credibly and cost-effectively. 

According to an expert, GCR marks a significant stride in the intersection of green finance, blockchain technology, and climate change. 

In March last year, the International Emissions Trading Association issued guidelines on blockchain use in carbon markets. As the main lobby group for VCM, IETA’s aim is to establish a functional framework for trading carbon credits. 

Speaking for HBAR Foundation, the company’s VP of Sustainability and ESG noted that it’s crucial that standards are operated in a public ledger that’s easy for project developers to use. He further said that:

“GCR will enable digital MRV, streamline project enablement and improve carbon credit management, unlocking a new era of transparency, trust, and impact in the fight against climate change.”

In a transformative collaboration, Carbonbase, HBAR Foundation, and ImpactX are to revolutionize Asia’s carbon market with the launch of the GCR, a pioneering digital native carbon registry in the region. With it, they aim to drive transparency, integrity, and market growth, fostering global carbon reduction efforts and climate action.

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US Trio to Fund $500M Nature-Based Carbon Projects to Make 100M Carbon Credits

Three US companies – carbon solutions provider Rubicon Carbon, commodity trading firm Freepoint Commodities, and project developer Imperative Global – have teamed up to develop and fund a potential $500 million nature-based carbon offset projects that can create over 100 million carbon credits

The trio joined forces to bring to the market large-scale nature-based carbon offset projects and create impactful results in the Global South. 

A Trio for High-Quality Carbon Offset Projects

TPG Rise-backed Rubicon Carbon aims to help large companies meet their decarbonization targets and the growing demand for high-integrity carbon credits. The company sources and manages diversified carbon credit portfolios while bringing transparency and quality to voluntary carbon markets (VCMs).

Freepoint Commodities is a global commodities merchant with a voluntary carbon business delivering market solutions to VCM market players. Investing in high-quality carbon projects is one of the services that Freepoint provides.

Imperative Global seeks to advance carbon credit project development and the generation of high-quality credits by addressing issues at the source. It has expertise in carbon project execution, conservation projects, and carbon markets, optimizing these projects using advanced technology. 

Their collaboration has the main goal of promoting nature-based carbon offset projects that can produce over 100 million credits. 

The VCM was valued at $2 billion in 2022 and market projections are bullish, surging to $250 billion by 2050. Demand for voluntary carbon credits, also known as carbon offsets, will grow exponentially as shown below. 

One of the biggest problems plaguing the market is the issue of quality. Nature-based carbon offset credits, in particular, have been criticized for being worthless.  

The collaboration among the three companies aims to address this concern by driving quality within the VCM and providing capital at the scale necessary to fund large projects.

Generating 100M+ High-Integrity Carbon Credits

Rubicon Carbon has been focusing on working with project developers that implement high-integrity carbon projects. Partnering with Imperative reflects this commitment as their deal centers on promoting quality and setting new market standards.

Commenting on their collaboration, the Head of Rubicon Carbon Capital, Chris Brown said that it enables them to “help progress the VCM through a focus on integrity and quality”. 

Freepoint Commodities shared the same viewpoint on their trio partnership. As the commodity trader seeks to expand its global voluntary carbon business, they’ll invest in high-integrity projects and developers. 

Freepoint expressed intent “to support Imperative to be a market leader in the space”. They believe that doing so allows them to expand the suite of products and services they offer to customers. 

Each dollar these companies invest in Imperative carbon projects aims to produce meaningful climate, biodiversity, and community benefits. 

Imperative’s carbon project portfolio covers Latin America, Africa, and Asia, focusing on large-scale agroforestry, mangrove restoration, and native-species reforestation

Highlighting the significance of their partnership with Rubicon and Freepoint, Imperative CEO Scobie Mackay remarked that:

“…we believe that we can deliver scale and address the issue of quality at the source – on the ground where project activities are occurring…This collaboration with Rubicon Carbon and Freepoint Commodities brings together institutional capital, specialized carbon know-how, and deep, large-scale projects expertise.” 

Their strategic alliance seeks to create more than 100 million tons of carbon credits certified by Verra and Gold Standard. These credits won’t only reduce carbon emissions but also deliver substantial co-benefits and sustainable development goals. 

By combining their expertise, resources, and commitment to quality and integrity, this collaborative effort seeks to address both the demand for reliable offsets and the critical need for authentic and effective nature-based carbon offset projects. 

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Deep Sky and Svante Partner for Gigaton-Scale CDR in Canada

Deep Sky, a Canadian carbon removal project developer, partnered with carbon capture solutions provider Svante Technologies to study carbon sequestration in Quebec. They tapped Sproule to assess the feasibility of permanent geologic CO2 storage in the province.

This partnership is Deep Sky’s first venture to evaluate carbon capture and storage (CCS) technologies to ramp up the roll-out of this technological climate solution. This carbon dioxide removal (CDR) technology is crucial in achieving the global net zero emissions goal. 

CCS can help balance hard-to-abate carbon emissions and help reverse the buildup of carbon pollution that’s already in the air.

The Need for Deep Understanding of CCS

The evolution of CCS technologies is growing rapidly, driven by the urgent need to tackle climate change. With environmental challenges heightening, there’s a growing corporate demand for high-quality carbon removal credits. Thus, developing reliable CCS technologies is critical to meet such demand. 

Many of the technologies required to capture carbon from air or water and store it permanently do exist. But they’re mostly in the early stages and to scale them, it’s important to completely understand them, particularly their costs and impacts. 

This understanding exacted through a team of expert researchers, scientists, and entrepreneurs allows Deep Sky to scale on a level that has never been seen before. It will enable the carbon removal company to develop CCS technologies and bring them to commercialization through collaborations. 

The company’s co-founder, Fred Lalonde, highlighted the importance of working with other major industry players to deliver rapid meaningful changes. Commenting on their partnership with Svante, he said that:

“By combining Deep Sky’s project development expertise with Svante’s ready-to-deploy technology and Sproule’s geology research, we can drive down greenhouse gas emissions and deliver carbon credits to the market at hyper speed.”

Svante has developed innovative carbon removal technology using solid sorbent-coated filters that capture CO2 from industrial sources. These filters can capture up to 95% of the industrial carbon emissions using direct low-pressure steam injection. 

The filters are available for point-source capture from hydrogen, cement, steel, aluminum, pulp & paper plants, and refineries, and DAC applications. DAC refers to direct air capture

Svante’s Point-Source Carbon Capture Technology

Leveraging Deep Sky’s CDR development expertise and Quebec’s unique geology, Svante’s CEO and President Claude Letourneau remarked that: 

“For DAC to succeed, it will be critical to find geographical locations that have substantial and safe storage potential…We can leverage the region’s [Quebec] vast renewables and hydroelectric energy needed to safely trap and store CO2 in deep underground saline aquifers.’’

Engineered or tech-based carbon removal using DAC and other carbon capture and sequestration methods is maturing. But the problem is that no one is able to scale these technologies to gigaton levels, yet. 

The Deep Sky Solution: Tech-Based, Gigaton-Scale CDR

Deep Sky aims to build gigaton-scale carbon removal and storage infrastructure in Québec and across Canada. As a project developer, the startup is bringing together the most promising CDR technologies to commercialize climate solutions at scale.

Source: Deep Sky website

The CDR company is supported by the government of Québec, a large Ontario pension fund, and renowned private investors. Headquartered in Québec, the early-stage VC company is in an advantageous position to leverage the region’s CCS potential.

Though nature-based CDR approaches are cheaper and are easier to deploy in the short term, tech-based carbon sequestration technologies offer a much greater removal potential and greater scalability. The former is facing land availability constraints. 

Forests, for example, can remove about 5 tons of CO2/hectare of land. In contrast, a DAC plant can capture up to 50,000 tCO2 for the same land area. So, in comparison, the tech-based CDR method is about 10,000x more land-efficient than its nature-based CDR counterpart. 

There won’t be enough land available to naturally sequester the amount of carbon needed to reach net zero emissions. But engineered CDR technologies also have their own challenges – energy use. 

Carbon capture technologies need thousands of kilowatt-hours of energy to capture a ton of CO2. To address this, carbon removal companies like Deep Sky must work with existing energy-efficient carbon capture technologies scalable at gigaton-level. Svante matches this requirement.

Delivering High-Quality Carbon Removal Credits 

Technological carbon sequestration methods are known to produce high-quality and reliable carbon removal credits. That’s because they provide durable, scalable, measurable, and verifiable carbon emission reductions. 

As the demand for CDR skyrockets, companies, governments, and individuals will seek Deep Sky’s high-quality carbon removal credits. This enables the carbon removal startup to be a key player in the CDR market.

Deep Sky believes that the demand for premium CDR credits will grow exponentially, providing one of the biggest market opportunities.

To leverage this market growth, the company is currently raising a $50M Series A round co-led by WhiteCap Venture Partners and Brightspark. The funding will enable Deep Sky to build its initial pilot facility, Deep Sky Alpha, and to set the ground for its first large-scale facility, Deep Sky One.

The recent developments and announced investments in CDR seem to point to Deep Sky’s bright market projection. CDR credit purchases jumped 437% for the first half of this year versus the full-year 2022. And as corporate net zero commitments continue to grow, so does the demand for these environmental credits. 

As Quebec is strategically positioned for the next gigaton-scale carbon removal projects for its ideal geological makeup for carbon storage, renewable resources, and supportive policy, Deep Sky has a unique advantage in delivering high-quality CDR credits. Teaming up with Svante Technologies, their strategic collaboration for an innovative carbon removal project paves the way for a gigaton-scale climate solution. 

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A $150M Boost: Allowing Small Forest Owners to Profit from Carbon Credits

The U.S. government will give small forest landowners $150 million in grants to allow them to benefit from the carbon credit market and work with corporations seeking to buy carbon offsets.   

The grant program was revealed at a conference in coastal Georgia by the Agriculture Secretary Tom Vilsack. The subsidy will give small and underserved forest landowners managing 2,500 acres (1,011 hectares) or less more chances to participate in the growing carbon market.

The ultimate goal is to protect the U.S. forests to help fight climate change.

Funding Nature-Based Climate Solutions 

The current global investments in NCS or NBS are at around $154 billion a year. While it sounds plenty, it is still not enough to stir massive efforts to sequester carbon through nature. The UN said that amount has to double to $384 B by 2025 and quadruple to $674 B by 2050. 

Closing that nature financing gap is crucial to tackle the climate crisis. 

To help close the financing gap, the Agriculture Department will roll out $150 M supporting small forest owners. 

Secretary Vilsack highlighted one particular barrier for this group of landowners to participate in carbon markets, saying that:

“In order for those small, privately held forest owners to be able to do what they need and want to do requires a bit of technical help… And sometimes that technical help is not easy to find. And it’s certainly not easy to afford.”

Both technical and financial barriers keep small landowners covering less than 5,000 acres from benefiting in selling carbon credits. And though large companies invest billions into protecting forests via carbon offsets, family landowners don’t satisfy the eligibility criteria. 

To be eligible, they need to have inventory, land management plans, and models to determine their land’s carbon value. Doors remain closed for them in the carbon space. 

Opening More Doors in Carbon Markets

As carbon markets continue to show promising growth over the past years, more players are joining in. The voluntary carbon market was valued at $2 billion last year and forecasts show it will even grow exponentially. 

But the ones benefiting the most from the sales of carbon credits don’t significantly include the small forestland owners. Revenues from carbon offset credits have mostly benefited large forest owners. This is what the government’s $150 M subsidy program will address. 

The grant is from the most notable climate law passed by the US Congress in 2022. The funding program targets small landowners with 2,500 acres or less, and the underserved owners like military veterans.

Despite criticisms of the effectiveness of forests in capturing and sequestering carbon, payments for landowners growing and protecting trees increased. Large companies still rely on forest carbon sequestration and pay for the credits to offset their own emissions.

Amid plummeting prices of nature-based carbon offset credits, the UN panel seems to favor nature-based solutions over tech based carbon removals. The UN-backed believes that natural climate solutions (NCS) play a big role in achieving the Paris goals as shown below.

NCS includes forest projects that give landowners incentives not to cut down trees or sell their land to corporate developers. 

Earlier this month, Finite Carbon and LandYield partnered in a groundbreaking project that also aimed at breaking barriers to open new opportunities for family forest landowners to benefit from carbon credits. They launched a new platform “CORE Carbon” for landowners with 40-5,000 acres to enroll in a carbon offset program. 

Years ago, a similar program was created by the Nature Conservancy and the American Forest Foundation that allowed family landowners to apply for subsidies of up to $25mln. The grant covered considerable costs for these landowners to generate carbon credits and earn from selling them. 

Earning Extra Through Carbon Credits

The recent grant was first introduced to the host of the conference where the program was announced. The group called the Sustainable Forestry and African American Land Retention Network represents black forest landowners covering the Southern states. These include Alabama, Arkansas, Georgia, Mississippi, North Carolina, South Carolina, Texas and Virginia.

The group’s leader said that they’ll apply for the subsidy program though they don’t know the actual demand yet. It will depend on how much the smaller forest owners can earn from the carbon offset credits. 

The income won’t be that huge, given the smaller acreage involved, but it would be enough to “pay the taxes”. According to the American Forest Foundation, the small landowners under their forest carbon program are earning $10 per acre a year on average.

So for a landowner managing a 1,500-acre forestland, that would be $15,000 a year income. It’s not huge but others could earn more than that. If prices go up, so do their potential earnings. 

In a move to empower small forest landowners, the $150 million grant program aims to bridge the gap in the carbon credit market. This initiative not only unlocks income opportunities for smaller, underserved landowners but also fortifies the nation’s fight against climate change through nature-based solutions.

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EU Enacts New Reporting Rules for CBAM: Here’s What To Know

Despite significant opposition from some trading partners, the European Commission has enacted the reporting rules for its carbon pricing tool known as the Carbon Border Adjustment Mechanism or CBAM that will take effect during its transitional phase in October 1, 2023. 

CBAM, a key pillar of the EU’s Fit for 55 Agenda, is the bloc’s significant tool to prevent carbon leakage. It’s created to ensure that companies operating inside and outside the region remain on the same page in terms of carbon pricing and environmental impact.

Carbon leakage happens when a company operating in the EU move its production abroad where there’s less stringent climate regulations. It also occurs when products made in the region are substituted by more carbon-intensive import goods. 

A study estimates that unchecked carbon leakage can result in a 15% increase in global carbon emissions, hurting climate actions. CBAM seeks to avoid this.

Putting a Fair Price on Carbon 

As the EU gradually introduces the mechanism, the Implementing Regulations will initially apply to carbon intensive industries and certain goods. These particularly include iron and steel, cement, electricity, hydrogen, aluminum, and fertilizers.

Once CBAM becomes fully phased in, it can address >50% of the emissions of the sectors under the EU ETS. Its transition phase will run until the end of 2025. 

The new rules adopted specify the reporting obligations for importers of CBAM covered goods. It also provide details of the methods how to calculate embedded emissions generated in producing those products. 

This guidance is published by the EC to also help third country producers of CBAM goods. The Commission will also provide materials, tutorials, and webinars to help affected companies once the transitional phase starts. 

First report, which includes 2023 4th Qtr. data (starting October 1), will be due by January 31 next year. Traders only need to submit their report without having to pay for any financial adjustments. This is to give enough time for companies to get used to it while the methods are adjusted by 2026.

By ensuring that a carbon price has been paid for the embedded emissions of the imported goods and that it’s equal to the carbon price of domestic production, the CBAM is putting a fair price on carbon. The mechanism also aligns with the WTO rules. 

Phasing-In of CBAM, Phasing-Out of Free Carbon Allowances

The gradual phase in of the mechanism will coincide with the phase-out of the free carbon allowances under the EU ETS to decarbonize the industry.  

The EC forecasts that the carbon allowance market can reach €4.5 billion annually by 2030. CBAM will significantly affect international trade and revenues.

Starting from January 1, 2026, the new permanent system will require importers to report annually on the volume of goods brought into the EU in the previous year and their associated emissions. 

Subsequently, they will need to surrender the corresponding number of CBAM certificates. The cost of these certificates will be based on the weekly average auction price of EU ETS allowances, measured in €/tonne of CO2.

Before the definitive CBAM system takes effect, there will be a comprehensive review of its performance during the transitional phase. Then there will be an assessment of the product scope, evaluating the possibility of including more goods from sectors already covered by the EU ETS into the CBAM. The report will outline a schedule for their inclusion by 2030.

Ultimately, here are the key things under the CBAM’s transitional phase to keep in mind:

Reporting timetable: beginning in October, businesses must collect data on embedded carbon emissions of their imported goods. Reporting starts in January 2024 and ends in 2025. 

Industries covered: carbon-intensive industries and certain downstream products (e.g. bolts). Specific indirect emissions under certain conditions may also be included.  

CBAM certificates: certificates must include information on the product’s CO2 footprint, origin, production/processes, and GHG emissions data (including indirect emissions, e.g. energy use).

Meeting the reporting rules of CBAM might be tough for traders initially. But its advantages will outweigh the challenges in the long-term by creating a fairer carbon price. 

Last year, the U.S. also introduced its own version of CBAM, the Clean Competition Act. It aims to make domestic companies in the U.S. more competitive in the global market.

Well-designed carbon pricing like the EU CBAM will help industries adopt less carbon-intensive and more environmentally friendly production processes, contributing to a greener global economy. This is critical as the world is curbing planet-warming emissions to address climate change. 

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