CDR Currents - Tuesday 16 April

Welcome to CDR Currents, your guide to navigating the dynamic currents of Carbon Dioxide Removal (CDR) trends.?

The Sylvera team will be at Carbon Unbound USA from 22nd-23rd May in New York. If you would like to meet us there reach out to [email protected]

Big Waves in CDR

Three major announcements driving the CDR market this week:?

• The EU Parliament has given its final approval for the Carbon Removal Certificate Framework, bringing it closer to realization.?
• The Climate Change Authority has issued a comprehensive report advising the Australian government on its 2035 emission reduction targets. The report suggests considering a division of targets into gross reduction, land sector removal, and engineered removal.
• Metalplant, a startup focusing on enhanced rock weathering CDR, has developed a new process using hyperaccumulator plants. These are strategically planted to absorb the nickel released during the weathering process. Not only does this innovative method efficiently extract nickel from the soil, but it also tackles a significant issue associated with enhanced weathering: heavy metal contamination.

Stay tuned as we ride the tide of innovation and explore the latest developments shaping the future of carbon removal.

Stories of the Week?

Policy + Market

• French Association For Negative Emissions Officially Launched . [12.04.24]. An initiative has been launched in France, bringing together diverse stakeholders in the Carbon Dioxide Removal (CDR) realm. This collaborative effort aims to expedite CDR development by fostering synergy among various participants, including project leaders, technology innovators, prospective buyers, investors,, and other key stakeholders.
• 2024 ISSUES PAPER TARGETS, PATHWAYS and PROGRESS . [11.04.24]. The Climate Change Authority, entrusted with advising the Australian Government on climate policy, has issued a report outlining preliminary considerations for Australia's 2035 emission reduction targets. A pivotal aspect of this report is the proposed disaggregation of targets. Alongside comprehensive whole-of-economy net emissions reduction targets, the Authority is contemplating the recommendation of three complementary types of targets: gross emissions reduction targets, land sector removals targets, and engineered removals targets.
• EU Parliament Votes On New Law To Reduce Methane Emissions, Gives Final Approval On Carbon Removal Certification Framework . [11.04.24]. The European Parliament has given its stamp of approval to the Carbon Removal Certificate Framework (CRCF). The next steps involve its adoption by both the Council and the Parliament, after undergoing necessary revisions by lawyer-linguists.
• Puro.earth Releases New Report Showing The Rapid Growth Of The U.S. Carbon Removal Market . [09.04.24]. Puro.earth 's report delves into the expansion of the CDR market, examining key factors like CDR retirements, as well as supply and demand dynamics. Notably, the report identifies the United States as emerging as a frontrunner in the market, excelling in CDR delivery, offtake purchases, and the proliferation of CDR projects.

Projects

• Biochar Life And Siam Cement Group To Revolutionize Sustainable Construction . [10.04.24]. A Memorandum of Understanding (MoU) between Biochar Life and Siam Cement has been announced. This aims to collaborate on and explore solutions such as combining biochar with building materials including cement.
• Inherit to provide Bofort with carbon removal credits for their travel emissions . [02.04.24]. Inherit Carbon Solutions will provide Bofort, a cryogenic ISO tank rental and leasing company, with CDR credits.
• Climeworks Receives Funding For Large-Scale Direct Air Capture in Norway . [09.04.24]. Climeworks has received 26 million NOK in government funding from Enova, a state enterprise owned by the Norwegian Ministry of Climate and Environment.
• Carbon removal firm Captura expands Series A funding to US$45.3M . [04.11.24]. Captura has expanded its Series A round to US$45.3 million, in order to scale and commercialize its Direct Ocean Capture technology.
• Metalplant Exits Stealth, Announces Novel Technology Combining Nickel Phytomining With Enhanced Rock Weathering To Produce Nickel And CDR . [10.04.24]. Metalplant, a pioneering startup focusing on enhanced rock weathering CDR, has developed a new groundbreaking process. This process involves the utilization of hyperaccumulator plants, which are strategically planted to absorb the nickel released during the weathering process. Not only does this innovative method efficiently extract nickel from the soil, but it also tackles a significant issue associated with enhanced weathering: heavy metal contamination.

Methodology?

• METHODOLOGY FOR BIOMASS FERMENTATION WITH CARBON CAPTURE AND GEOLOGIC STORAGE . [09.04.24]. Gold Standard has published V1.0 of their methodology for biomass fermentation with carbon capture and storage.

Tides of Interest

• Klutch Integrates Nori Carbon Removals . [02.04.23]. Klutch and Nori Carbon Removals have collaborated to launch the Climate Impact MiniApp. Klutch provides customizable credit cards, whilst Nori is a carbon removal credit issuer, registry, and market. The Climate Impact MiniApp allows Klutch users to purchase Nori Regenerative Tonnes when they use their card.

Stay tuned for more updates on the Currents in CDR. If you’re looking to learn more about CDR and how it fits into your carbon investment strategy, reach out to our team.