Chapter 3: Which carbon removal projects should you choose for your portfolio?

As part of our ‘Carbon Removal: The First-Time Buyer’s Guide to CDR’ series, we explain how to overcome the initial challenges you may face when starting your CDR journey and how to make the process easier. This is Chapter 3; you can find Chapters 1 ,? and 2 here.

Three key tips from this article:

1. Choose projects that align with your business values

2. Mix different geographical locations and technologies

3. Support projects that have legitimate and lofty ambitions to scale

In previous instalments, we covered how to get your business leaders on board with CDR and how to set a budget for carbon removals. Once you've completed those steps, the next stage is to build your CDR portfolio.

When crafting a carbon removal (CDR) portfolio, companies should strategically select a mix of projects that not only effectively reduce atmospheric carbon but also align with their business values and geographic priorities. Here's how to structure a robust and impactful portfolio:

Diverse Technological Approaches: Employing a blend of carbon removal technologies ensures resilience and maximises impact. Incorporate Enhanced Rock Weathering (ERW) which uses minerals to absorb CO2, offering a natural yet scientifically advanced method. Utilise biochar , a carbon-rich material derived from biomass, which sequesters carbon in soils while improving soil health. Support Nature-Based Solutions (NBS) like afforestation and wetland restoration, which leverage natural processes to absorb carbon and enhance biodiversity. Lastly, integrate Direct Air Capture (DAC) for its cutting-edge approach in capturing CO2 directly from the atmosphere.

Geographical Alignment: Prioritise projects in regions that align with your business interests. This ensures that your carbon removal efforts are directly benefiting the areas where your operations have the most environmental impact. For instance, a company with significant activities in South America might focus on reforestation projects in the Amazon, while a business heavily invested in North American markets might support DAC facilities in the United States.

Measuring, Reporting and Verification: To ensure that you are investing in high-quality projects that will deliver the expected impact, prioritise projects that have been measured, reported and verified (MRV ) by an independent body, and that are constantly monitored to ensure they keep their value over time. These processes ensure that carbon removal projects are fulfilling their promises and the climate impact is taking place. This will allow you to assess the efficacy of the project and provide transparency and credibility in your climatic efforts.

Resonance with Company Narrative: Select projects that resonate with your company’s story and ethos. Tech companies, for example, may be drawn to DAC projects because of their innovative and high-tech nature, reflecting a commitment to forward-thinking solutions. Conversely, a food and beverage company might prioritise ERW or biochar projects due to their ties with agriculture and natural resource management, highlighting a commitment to sustainable farming practices and environmental stewardship.

By thoughtfully blending diverse technologies, focusing on strategically important geographies, and choosing projects that align with their narrative, companies can create a carbon removal portfolio that is not only effective but also reinforces their brand values and operational priorities. This strategic approach ensures that carbon removal efforts are impactful, authentic, and integrated into the company’s broader sustainability goals.

Visit opna.earth to learn more about procuring high-quality carbon removal or speak to our team, Matthew Caudle at [email protected] to learn more about how we can help you meet your ESG and sustainability goals.