Welcome to CDR Currents, your guide navigating the dynamic currents of Carbon Dioxide Removal (CDR) trends. Here to provide you with the most recent developments in the CDR environment.
What’s driving the CDR market this week?
- Oxford University researchers have released a new proposal for a carbon removal budget. This budget would treat CDR as a limited resource and provide a framework to value this finite resource and allocate it in a fair and effective way.
- The Carbon Removal Standards Initiative (CRSI) has launched to help bring more regulations and standards to the CDR market. The initiative is based on three principles: carbon removal is a public good, policy-driven supply and demand, and understanding that carbon removal is embedded in other industries.
- Puro. Earth, a carbon removal registry, has announced that its Enhanced Rock Weathering CDR methodology will be revised in the coming months. The methodology will be updated based on advances in MRV technology since its original release.?
- 2024 Q2 Durable CDR Market Update - Microsoft: Market-Maker. [31.07.24]. The second quarter saw record transaction volumes for investment into durable CDR, with over 90% of those tonnes sold for BECCS CDR, the continued major influence of Microsoft in the CDR market, and the prominence of Scandinavian suppliers, mostly due to Microsoft deals.
- Oxford Researchers Propose Carbon Removal Budget To Fight Climate Change. [06.08.24]. The University of Oxford proposed a “Carbon Removal Budget” in a new study. The budget establishes carbon removal as a limited resource that is not free to produce; it requires energy, land, and monetary resources. It would provide a framework to value the finite resource of CDR and allocate it in a fair and effective way.
- New Carbon Removal Standards Initiative Launched To Help Regulate CDR. [06.08.24]. The Carbon Removal Standards Initiative (CRSI) is an independent nonprofit that has been launched to help bring more regulations and standards to the CDR market. The CRSI is based on 3 principles: carbon removal is a public good; policy-driven supply and demand; and carbon removal is embedded in other industries.
- Graphyte Creates Platform to Purchase Affordable, Verified Carbon Removal Credits. [06.08.24]. Graphyte, a carbon sequestration company, has launched an online platform powered by Shopify to enable individuals, households, and small businesses to purchase removals from Graphyte through subscription plans.
- OpenAir Collective Launches Carbon Removal Knowledge Platform CDR.ai. [26.07.24]. OpenAir Collective, a community of volunteers, has announced the launch of a Large Language Model (LLM) platform aimed at providing anyone with interest in CDR access to rapid, credible information with transparency on the sources of information provided.
- Mangrove Systems and Carbon Capture Scotland Partner to Deploy Digital Monitoring, Reporting, and Verification System for Biogenic Carbon Removal. [30.07.24] Mangrove Systems is a digital MRV provider that has announced that it will partner with Carbon Capture Scotland for dMRV of its CDR process.
- Applied Carbon Secures $21.5M To Launch Innovative Biochar Tech. [01.08.24]. Applied Carbon has announced its $21.5 million Series A round, which will support the deployment of a fleet of biochar machines.
- Graphyte Secures $30M Funding For Innovative Carbon Removal Tech. [01.08.24]. Graphyte, a carbon sequestration company, has announced their $30 million Series A round to continue their CDR work using biomass burial.
- Climate Impact Partners Launches Program To Scale New Carbon Removal Technologies. [06.08.24]. Climate Impact Partners (CIP) has launched its carbon dioxide removal program, aiming to channel finance to CDR technologies.
- Deep Sky to Build World’s First Carbon Removal Innovation & Commercialization Centre, Deep Sky Labs, in Innisfail, Alberta. [07.08.24]. Deep Sky, a carbon removal project developer, is set to build a carbon removal innovation and commercialization centre, Deep Sky Labs, in Alberta.
- CarbonBox – China’s Own Direct Air Capture Tech Passess Reliability Test. [06.08.24]. CarbonBox, a DAC solution developed by Shanghai Jiao Tong university and China Energy Engineering Corporation, has passed reliability tests.
- Spiritus Files For Class VI Permit In Wyoming For World’s Largest DAC Plant. [09.08.24]. Spiritus has filed for a Class VI permit to build its Orchard One project in Wyoming, which could eventually store 2 million tons of CO2 annually.
CONNECT Toolkit (BETA). [08.07.24]. The US Office of Fossil Energy and Carbon Management has released the CONNECT Toolkit, which provides the public information on federally funded projects, with a portfolio of federal research, development and demonstration projects for point source capture, carbon dioxide removal, transport, storage, and conversion.
Co-Founder of Altrosyn and DIrector at CDTECH | Inventor | Manufacturer
3 个月The Oxford proposal echoes past debates around resource allocation, reminiscent of early discussions on fisheries management. Treating carbon removal as a finite resource could incentivize innovation in efficiency and permanence, but also risks creating new inequalities if access isn't carefully managed. The CRSI's focus on public good aligns with the growing recognition that climate solutions require collective action. Puro.earth's commitment to MRV updates is crucial for building trust and ensuring robust accounting within the nascent CDR market. Given the potential for unintended consequences, how can we ensure that carbon removal policies effectively address both mitigation and adaptation needs while minimizing social and economic disparities?