CEBA Spring Meeting Carbon Removal Tour #1
UN Scientists estimate we need ~$1T of permanent removals per year by 2050.
Yet as of the end of 2023, we’ve only developed 0.05% of the capacity to deliver these removals
Carbon removal purchasing now totals $2.1 billion - it was $0 in 2019, growing 6x in 2023 alone.
All corporate net zero standards articulate the UN IPCC assertion that permanent removals will be needed to achieve true net zero.
Most purchasing has been done via long term bilateral agreements, very closely mirroring power purchase agreements.
A coalition of Google, McKinsey, Facebook, Stripe, Shopify, H&M, Autodesk, Workday and Watershed announced a $53 million purchase from Charm Industrial to remove over 100K tons of CO2 permanently.
JPM Chase also announced a separate 28,585 ton purchase from Charm, which is already being delivered.
Charm Industrial puts a carbon rich bio-oil made from corn stalks and forestry residues into empty oil wells, permanently removing the carbon from the atmosphere. Charm is also commercializing the production of carbon negative iron from the bio-oil. See here for a preview: https://youtu.be/3avR8TVT0cg
Logistics:
Shuttle service provided roundtrip from the Gaylord Rockies Resort in Aurora to Charm’s location; 2360 S Rollie Fort Lupton, CO.
Attendees are welcome to arrive on their own if preferred. Arrival Details: www.charmindustrial.com/visitco.pdf
A light lunch will be provided.
Timing for Wednesday, 5/22:
Shuttle departs Gaylord Rockies Resort at 11:30am MT (Meet at main entrance)
Arrival at Charm Industrial factory at 12:00pm MT
Carbon Removal Technology Tour 12:00pm - 1:00pm MT
Shuttle returns to Gaylord Rockies Resort by 1:30pm MT to leave plenty of time to kick off the Summit at 2pm MT.