07.06.2022
The fund will support scale-up of carbon negative solutions.
Five major international companies in finance, tech and consulting have come together and set up a fund (“Frontier”) worth almost USD 1 billion to buy carbon credits from operators that can offer credits based on carbon negative solutions (CDR). The fund will buy credits from operators offering carbon removal from the atmosphere with solutions at a cost that may fall over time to less than USD 100 per tonne of CO2. The purpose of this is to support scale-up of CDR technologies and to develop a market for these carbon credits.
Frontier hopes to evolve into a marketplace for other operators wanting to support these sorts of initiatives. The concept itself is based on what is known as an “Advance Market Commitment” – where private and public operators come together to incentivise the development of markets for mutual benefit. The concept was also used for the development of vaccines.
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From being expensive and dangerous, to being warmly welcomed As usual, the viewpoint of the individual, including their basic assumptions, is crucial for the conclusions they arrive at. Over the years, industrial CDR (such as Bio CCS and DACCS) has been warned against as a costly or dangerous ‘distraction’, to becoming increasingly welcomed and is …
In April, the IEA (International Energy Agency) released their latest analysis of the conditions behind the increasing interest in DACCS (Direct Air Carbon Capture and Storage), as well as assessments of what is needed for the technology to be adopted. In the short term, DACCS will be able to offset emissions that are more difficult …
