Carbonfuture To Host Carbon Removal Summit 2024 In London June 13th

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Carbonfuture, the leading MRV Infrastructure provider for durable carbon removal, will host its second annual summit dedicated to carbon dioxide removal (CDR), in partnership with Reuters Events on June 13th in London. The invite-only summit aims to bring together industry leaders in the fast-growing approach to climate change. Panel discussions and keynotes featuring scientists, tech leaders, and other stakeholders will build on the momentum CDR has attracted over the past few years as companies committed to net-zero goals look for solutions to complement fuel emissions reduction.

The timing of the summit is crucial, as the tide is turning on CDR. Just this month, the EU Parliament approved its adoption of a carbon removal certification scheme. Promoting a reliable certification and tracking scheme is the next step in growing confidence among CDR investors. Carbonfuture recently launched its carbon removal sensor suite. The collaboration connects CDR’s leaders in standards-setting, manufacturing, monitoring, data collection, and certification — making certified CDR suppliers more accessible for CDR buyers.

The partnership with Puro.earth, a CDR standards and certification body, is sure to be a major theme at the event for climate conscious corporations seeking to invest in carbon removal. Puro.earth has signed on as a Carbon Pioneer Sponsor. Puro accounts for 80% of global certified engineering credits. Retirements, where a credit is officially recorded as being used to offset a company’s emissions, almost doubled in 2023 to 65,026 tons. Puro CEO Antti Vihavainen estimates certifications to grow to 400,000 in 2024.

“We are excited to contribute to the progress of the carbon removal industry by participating in Carbonfuture’s  Carbon Removal Summit 2024. Puro.earth’s commitment to transparently certify only high-quality durable CDR aligns with Carbonfuture’s mission to build a digital Trust Infrastructure for durable carbon removal to accelerate the scaling of CDR,” said Puro CEO Antti Vihavainen.

Carbonfuture, a leader in monitoring CDR projects and supplying data for certification, has over 1.3 million metric tons of carbon removal supply contracts underway. Meanwhile, the European Commission has estimated that it would need to remove around 250 million metric tons of carbon by 2040 to reduce greenhouse gas emissions to 90% relative to 1990 levels. With its recent approval of a CDR certification scheme, it’s on its way.

Another major theme of the summit is likely to be the way in which carbon is captured. In 2023, 93% of delivered CDR credits were through biochar, a low-cost method of turning agricultural waste into charcoal, locking in carbon emissions and redistributing it into soil. However, direct air capture (DAC), where carbon is removed directly from the air through a variety of methods, is getting more attention for its scalability. Though it has been criticized for its high cost ($600 per ton versus biochar’s $140 per ton price tag), startups are seizing the opportunity to develop more economically efficient solutions. The German startup Greenlyte recently raised €10.5 million in funding to develop its DAC technology which requires minimal energy at a lower price tag.

The summit also signals a growing space for CDR in the larger conversation around sustainable business. Reuters Events announced the Carbon Removal Summit 2024 will serve as a thematic continuation of its flagship Responsible Business Europe 2024 (RBEU 2024).

“Reuters Events is committed to advancing the discourse on sustainability. With sustainability now a company-wide imperative for many businesses, a strategic partnership with Carbonfuture allows us to highlight the critical role of carbon removal in corporate sustainability strategies. We believe this collaboration will drive impactful actions towards a more sustainable future and collective climate goals,” said Ed Long, Head of Sustainable Events at Reuters Events.

“We’re excited to host our second annual Carbon Removal Summit in London in partnership with Reuters Events. Investing in carbon removal is imperative for businesses committed to achieving net zero emissions. This strategic partnership will provide an important platform for businesses to learn about innovative carbon removal solutions, explore pathways for investing in carbon removal today, and gain insights into the key factors shaping the future of carbon removal,” said Leila Toplic, Chief Communications and Trust Officer at Carbonfuture.

So mark your calendar for June 13th, and hope your invite does not get lost in the mail for what’s sure to be a day to move CDR forward.