Thread by @SophiePurdom

Gradually... ⛔#CDR was fringe for years, even as @IPCC_CH sounded the bullhorn

...Then suddenly!
🏁 $650m for @Climeworks
🏁 $350m CDR @lowercarbon fund
🏁 ~$1B @stripe Frontier advance market commitment for C removal

@nanransohoff shares the scoop

climatetechvc.substack.com/p/-a-new-front…

Until this week, the world has collectively bought just 10,000 tonnes of permanent carbon removals - ever.

@nanransohoff and the Frontier crew from intend to spur the market to 6,000,000,000 tonnes by 2050, and there’s no time to lose.

Some great takeaways 👇 @climatetech_vc

"Frontier borrowed a concept from the energy sector - ✨offtake✨ agreements. Suppliers benefit because they can take the guarantee to the bank for project financing. Buyers benefit because they only pay once the carbon has actually been removed."

"The private sector & voluntary markets can get us to first base, but we need policy to get us to fourth. By 2050 this market should be ~$1T/yr. Global GDP is ~$100T/yr. The private sector and carbon removal technologies are ultimately ⌛ buying time to enact policy at scale."

"'Offset' is a loaded word these days. People use it interchangeably to mean everything from #carbonremoval to #avoidance and #emissionsreduction. But the environment only really cares about two things - ⬆️ GHG in, ⬇️ GHG out."

"There’s been a lot of fuzziness around how to get to net zero. I'd love to see companies spending as much as they can on 🤲 helping increase the base supply, rather than just 🤜🤛 competing over the supply that already exists."

"There’s lots of potential for creative engineering efforts to harness the best of 🌳 nature while mitigating some of its downsides, like 🦪 @running_tide and 💧@CharmIndustrial. There's been this false bifurcation between “nature vs tech”. We need some better names!"

"Measurement and verification is a major gap for the carbon removal field. Measuring a ton of sunken kelp is very different from measuring a ton of bio-oil injected underground. We need scalable and robust 📏⚖️ MRV across a very diverse set of technologies."