CO2 removal buyers unite

Read the full story at GreenBiz.

The push to support adoption of emerging carbon dioxide removal (CDR) techniques got a big nudge forward this week with the launch of new purchasing pledges by big corporate buyers.

The explicit announcements include a $500 million commitment by Alphabet, Microsoft and Salesforce to support CO2 removal projects, along with the launch of a new program that aims to facilitate the purchase of more than 1 million metric tons of verified carbon dioxide removal offsets by 2025.

The developments were catalyzed by the First Movers Coalition, launched in November by the World Economic Forum along with U.S. Special Presidential Envoy for Climate Change John Kerry. The first phase of the coalition’s mission centered on providing corporate procurement signals for companies developing low-carbon approaches and technologies for steel, cement, aluminum, chemicals, shipping, aviation and trucking. At that time, the group promised to support the commercialization of direct air capture and other advanced carbon removal approaches. Now, with more than 50 corporate partners on board, First Movers is starting to deliver on that promise, with a major expansion announced at the forum’s gathering in Davos: center on supporting carbon dioxide removal and near-zero emissions aluminum production.

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