The Department of Energy (DOE) announced the 24 semifinalists for the first phase of the Commercial Carbon Dioxide Removal (CDR) Purchase Pilot Prize.
Carbon removal continues to move forward with policy updates, upcoming events, and more. The Department of Energy announced the 24 semifinalists for the first phase of the Commercial Carbon Dioxide Removal (CDR) Purchase Pilot Prize, which includes many CO2BC members. Read our statement on this news and the new principles for high-integrity voluntary carbon markets. Later this month, the S&P's Carbon Management Americas Conference will be taking places in Denver, CO and CO2BC is excited to be a partner of the conference. We bring you the latest bite-sized news for June below: open RFIs for carbon removal funding, new reports, and lots more.
💡 Innovator Highlights💡
Boomitra and Climeworks were named to the TIME100 Most Influential Companies of 2024 list. Boomitra also joined forces with Earthshot Prize Founding Partner DP World to deliver soil carbon removal credits. Climeworks unveiled its Generation 3 plant. Nori announced the issuance of over 125k soil carbon removal credits from the Bayer Carbon Program. Black & Veatch selected six startups to participate in its CDR Accelerator, including CO2BC members Ebb Carbon, Heimdal, Holocene, and Parallel Carbon. Equatic unveiled a new methodology for the monitoring, reporting, and verification of electrolytic ocean-based CDR. Isometric became the first carbon registry to publish a protocol for durable carbon removal through ocean alkalinity enhancement (OAE). Graphyte and Carbon Direct announced their partnership, which will deliver its first CDR credits in 2024. Kita and the International Carbon Registry (ICR) announced their partnership for Kita to provide ‘Buffer as a Service.'
⚖️ Policy Highlights ⚖️
The Biden Administration announced its principles for high-integrity voluntary carbon markets, outlining seven areas to help VCMs reach their potential. They also published a climate capital guidebook that aggregates federal climate funding programs. The U.S. Department of Energy (DOE) announced the 24 semifinalists for the first phase of the Commercial Carbon Dioxide Removal Purchase Pilot Prize. DOE and NOAA signed an agreement to advance marine carbon removal. Noah Deich, Senior Advisor at the DOE's Office of Fossil Energy and Carbon Management, talked to Carbon Herald about the DOE's approach to CDR. The National Energy Technology Laboratory commenced operations of its Direct Air Capture (DAC) Center and are seeking new partners. The Environmental Protection Agency is inviting public comment on two tentative permits for a research study on ocean alkalinity enhancement. On the Hill, the House Agriculture Committee held a markup of the Farm Bill which passed out of Committee with bipartisan support. Internationally, the UK government’s Emissions Trading Scheme (ETS) Authority announced the launch of a new package of consultations proposing the integration of greenhouse gas removals into the ETS.
✨ ClimateHQ published a report titled Corporate Climate Action Report & Analysis that analyzes the US Fortune 100 companies’ historical activity in the voluntary carbon market.
🗽The OpenAir Collective is leading a campaign to pass the New York Carbon City Property Tax Abatement Act which aims to create a property tax abatement to incentivize building-integrated carbon removal approaches in New York City.
🇨🇳 Tencent’s CarbonX program, which funds technologies that support China’s net zero goal towards 2060, announced 13 carbon capture and removal startups to receive $13.9m funding.
🎡 Carbon Unbound Europe is taking place in London on September 11-12th; register today.
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