The durable CDR industry has delivered a total of 500,000 carbon removal credits (or 500,000 metric tons of CO2e) to the market over the last 5 years[1]. This represents good progress for the many emerging CDR suppliers bringing new projects online.But this is the very beginning. In order to reach net zero by midcentury, we need over 350,000,000[2] credits issued per year by 2030. That is 700X all CDR credits delivered to date! We have to move at a rapid pace to stay on track. And while we move quickly, we must maintain an unrelenting focus on quality. The market will only succeed…
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Part 3 of our carbon series explores COP29’s potential impacts and opportunities Source link
Logging has threatened wildlife and displaced native communities – SAVE RIVERSCertain quarters in Malaysia are pushing for market-driven mechanisms to cut carbon emissions and transition to a low-carbon economy.And they are being given a platform to do so by parties who should know better. The Star, for example, featured a write-up extolling the benefits of carbon trading platforms.What are carbon markets?Carbon markets are platforms where “carbon credits” can be traded.Companies or NGOs that carry out projects to remove CO2 from the atmosphere by planting trees or preserving existing forests will be awarded “carbon credits”. They will be given one credit…
AgriCapture announced the sale of 30,000 “high integrity methane emission credits” through a landmark deal. Source link
For representative purposes. | Photo Credit: iStockphoto The story so far: COP29, the ongoing climate conference in Azerbaijan’s capital Baku, has given a fillip to the idea of using carbon markets to curb carbon emissions by approving standards that can help in the setting up of an international carbon market as soon as the coming year. Also read: A guide to COP29 climate jargonWhat is a carbon market? A carbon market is a market that allows the buying and selling of the right to emit carbon into the atmosphere. Suppose a government wants to limit the amount of carbon emitted…
Amazon timber from carbon credit projects targeted by the Brazilian Federal Police was sold to companies in Europe and the United States.The group is suspected of land-grabbing and laundering timber from Indigenous territories and protected areas.Most of the exported timber belongs to the almost-extinct ipê species and was sent to a company in Portugal.The group is also suspected of using fake documents to launder cattle raised in illegally deforested areas.See All Key Ideas High-class pool decks, furniture, floors, ceilings and boats. Those are some of the primary destinations of the valuable tropical timber that leaves South America in large containers…
CarbonQuest, the U.S.-based carbon capture and storage (CCS) provider, and Carbfix, Europe’s leading CO2 mineral storage operator have announced a groundbreaking partnership to tackle emissions from “hard-to-abate” industries in North America. Both companies will deploy Distributed Carbon Capture and Storage (DCCS) solutions, making decarbonization more accessible and efficient for medium-scale emitters in the United States and Canada. Unlocking the MOU between Carbfix and CarbonQuest Under the Memorandum of Understanding (MOU), CarbonQuest and Carbfix will combine their expertise to address carbon emissions and mineralization at point sources. Their joint efforts will focus on industries such as manufacturing and utilities that face…
For years, wind energy has symbolized the clean energy transition. Towering turbines onshore and offshore have driven significant progress in reducing carbon emissions. However, recent setbacks in the global offshore wind industry have raised concerns about its future. Rising costs, delayed projects, and shifting investment priorities force governments and companies to reassess their ambitious wind energy targets. While countries like China continue dominating the sector, others, including the United States and European nations, struggle to keep pace. Profit vs. Progress: Why Energy Giants Are Scaling Back Offshore Ambitions The offshore wind sector faces mounting challenges, with profitability concerns leading to…
ExxonMobil, a pioneer in carbon capture and storage (CCS) helps the U.S. industries, mainly steel, ammonia, and hydrogen reduce their carbon emissions while meeting growing demand for lower-carbon products. But this time they are targeting the power-hungry U.S. data centers, as mentioned in their press release. The oil giant is developing a groundbreaking plan to provide low-carbon power to the U.S. data centers which are vital hubs for the booming artificial intelligence (AI) sector. The proposal outlines a first-of-its-kind facility that would produce electricity with natural gas while capturing over 90% of associated CO2 emissions. The captured emissions would then…
This is thermokarst, ice-rich permafrost thaws. From Hudson Bay, Canada in 2008. Credit: Wikipedia via CC BY-SA 3.0 Among the many things global warming will be melting this century—sea ice, land glaciers and tourist businesses in seaside towns across the world—is permafrost. Lying underneath 15% of the northern hemisphere, permafrost consists of accumulating dead biomass that remains frozen, never having had a chance to release all its carbon. As the surface and lower atmosphere warms from human enhancement of the greenhouse effect, crucial questions are how much permafrost will thaw and how much carbon will that release into the atmosphere?…