Supercritical

$35 million for carbon removal credits and jettisoning of avoidance? Alphabet Inc., Google's parent company, is taking a leadership position that others should follow 🌍 Alphabet is embracing a more impactful approach to carbon management by prioritizing carbon removal over avoidance credits, as detailed in their latest 2024 environment report. This strategic shift aligns with our belief at Supercritical that, alongside reduction strategies, carbon removal is the only legitimate path to achieving true climate impact. This pivot towards carbon removal reflects a commitment to more permanent and verifiable solutions, and we’re eager to see more strategic shifts like this from other industry giants in the future. 📉 Abandoning avoidance credits: Alphabet’s decision to eliminate avoidance credits underscores a growing recognition of the limitations and challenges associated with these offsets. ⚖️ Goodbye to carbon neutrality goals: Starting in 2023, the company is no longer maintaining operational carbon neutrality, through carbon avoidance offsets, instead aiming to neutralize residual emissions with high-quality carbon removal credits by 2030. 💡 Focus on high-quality carbon removal: Alphabet is investing in methods like biomass carbon removal, enhanced rock weathering, and direct air capture. In 2024, they pledged $35 million for carbon removal credits, joined a coalition to contract 20 million nature-based removal credits by 2030, and signed three carbon credit offtake deals for 62,500 tonnes of CO2e for delivery by 2030. Not enough businesses are taking their net zero commitments seriously - of the 7,892 SBTi signatories only 334 are purchasers of CDR. Something doesn't add up. Our mission has always been to support companies in navigating the complexities of the carbon removal market with confidence and transparency. We believe that with more companies adopting similar strategies, we can collectively make a significant impact on our planet. #CarbonRemoval #Sustainability #NetZero #ClimateAction #Supercritical #CDR #CarbonNeutrality #GreenTech

Today marks a significant milestone for transparency in the carbon removal market. Supercritical has become the first carbon removal marketplace to offer radical transparency of price, availability, and quality of credits, starting with biochar. Over the past six months we’ve spoken to many of the leading carbon removal buyers, and we’ve learned that they share the same challenges when navigating the market: ♦️ Where can I get the CDR I need to satisfy my net zero commitments? ♦️ What is the price per tonne? ♦️ How can I distinguish high-quality credits from subpar ones? ♦️ How can I transact efficiently? As of today, Supercritical can answer all these questions in a single place: 🔍 Market Insights: Live view of availability and pricing for 80% of the biochar market 🏆 Trusted Projects: Our rigorous vetting protocol evaluates projects across 118 criteria 📄 Simplified Transactions: One Supercritical contract for multiple projects across spot and offtakes To-date, we’ve worked with ⅓ of all corporate buyers of carbon removal, including forward-thinking companies like The Economist Group, Virgin Atlantic, Rothschild & Co and Tide. We hope this radical transparency will empower more companies to confidently engage in the carbon removal market.  Our approach is resonating with industry leaders: Emily Jackson-Kessler of The Economist Group shares “Supercritical helped us navigate the carbon removal market with confidence, supporting projects that make a real difference.” Here at Supercritical we’re just getting started. Learn more and sign up for the marketplace - link in the comments 👇 #CarbonRemoval #CDR #Sustainability #Biochar #ClimateAction #Supercritical #NetZero #RadicalTransparency

Biochar has emerged as the most accessible and scalable permanent CDR pathway. With an average spot price of $194, it’s the cheapest removal method after nature-based solutions, which average $27. This places it well below the other removal methods in our marketplace: Mineralization — $289 ERW (Enhanced Rock Weathering) — $299 Building material — $425 #Biochar also dominates in terms of availability, accounting for nearly 50% of engineered removal solutions listed on our marketplace. Between its price, availability, co-benefits and permanence, biochar is the most mature and at-scale permanent, engineered carbon removal category. It’s the closest permanent category to the long-term target of sub-$100 per tonne that many categories aspire to. However, it’s not perfect, the market is highly fragmented — most of the producers are small-scale projects owned by private entities, which makes transparent market data, vetting, and monitoring a major challenge. As the market is still nascent, reliable market information is invaluable for new and experienced buyers alike. Our latest report synthesizes a snapshot of our upcoming live biochar marketplace data into a series of insights we hope will help buyers make more informed purchasing decisions. Download the full report in the comments. 👇

As a publication focused on worldwide issues, The Economist Group is taking significant steps to address one of the most pressing: climate change. Their latest Sustainability Report reveals a strategic approach to carbon removal, investing in nearly 9.6kt CO2e of high-quality credits. This investment aligns with Science Based Targets initiative's recommendations for mitigating emissions beyond their value chain, demonstrating the Group’s commitment to comprehensive climate action. At Supercritical, we've had the privilege of guiding The Economist Group through the complexities of the carbon removal market. As they note in their report, "These are fast-evolving sectors where things are not always what they seem." Our rigorous vetting process ensured their portfolio is both impactful and credible, consisting of our vetted projects Nicaforest, UNDO and MASH Makes Biochar, and The International Small Group and Tree Planting Program (TIST). The Economist's approach is comprehensive and forward-thinking. While they recognize the critical importance of carbon removal, they acknowledge that it's part of a broader strategy.  In line with industry best-practice, they're committed to a two-pronged approach: actively reducing their emissions while simultaneously supporting in permanent carbon removal solutions. Curious about how a media powerhouse navigates the intricacies of carbon removal? Read their full Sustainability Report linked in the comments.

From our conversations with leading corporate buyers, we've identified the main obstacles in navigating the Voluntary Carbon Market (VCM). Here’s what we’ve learned: 1️⃣ Lack of Transparency: Accessing accurate market data remains a challenge. 2️⃣ High Costs: It’s no secret that carbon removal is expensive, compounded by transaction fees. 3️⃣ Deliverability Risk: The nascent nature of the market means credits can be late or not arrive at all 4️⃣ Environmental Risk: Ensuring projects are having real climate impact 5️⃣ Supply Uncertainty: Lack of visibility of availability of credits complicates procurement and planning. 6️⃣ Complex Contracts: Juggling multiple agreements with individual suppliers adds complexity. 7️⃣ Limited Market Insights: Strategic planning is hindered by inadequate data. 8️⃣ Reputational Risk: Credibility concerns loom large amidst fears of greenwashing. 9️⃣ Time-Consuming Processes: Procurement procedures are often protracted and cumbersome. 🔟 Leadership Buy-in: Gaining support and securing budgets for unprecedented activities We recognise that without new entrants to the #VCM, carbon removal technologies won’t scale at the speed we need them to. That's why we're proposing three pivotal changes to the market to encourage broader participation. On 27th June, our new marketplace will bring these changes to life. Register your interest if you’d like to receive access. Say hello to a new era of confident, impactful #carbonremoval procurement. 👋

In the absence of comprehensive regulation for the nascent carbon removal market, it’s encouraging to see companies like Isometric taking the lead on robust standards and verification. “Buyer confidence is key to unlocking investment at the scale we need for carbon removal to be impactful,” said George Jones, our Director of Supply. “Isometric’s rigor and multi-platform integration is a positive signal for the CDR market’s maturation.” Isometric’s rigorous, scientific carbon credit certification is a positive force in bringing accountability to this crucial but complex industry. Through partnerships like this, buyers can access a trusted supply of high-quality carbon removal credits.

Biochar buyers in 2024 are getting discounts of up to 37%. As the supply of high-quality #biochar credits begins to dwindle, buyers are moving to long-term offtakes — commitments to purchase credits that have not yet been produced — to secure future supply. These early investments support projects with bankable contracts, helping to boost growth and accelerate maturity. In exchange for helping these projects scale, suppliers are offering buyers discounts of up to 37% depending on deal size and the amount paid upfront. While we believe that spot purchases have a place in every carbon removal portfolio, early and long-term investments, like #offtakes, can help drive much-needed growth in the broader carbon removal market. But spot purchases – let alone multi-year offtake agreements – can be complicated, especially for first-time buyers. Wondering where to get started? Download the full 2024 Biochar Market Outlook report in the comments for more insights on biochar pricing, availability, and capacity.

When our CEO, Michelle You, was tasked with getting LocalGlobe to net zero, she faced a daunting challenge. Navigating the world of carbon #offsetting can be incredibly confusing. Michelle recalls, "Even after recognizing that permanent carbon removal is crucial for reaching #netzero, there were still so many unanswered questions. How do you assess additionality and permanence? How do you actually buy this stuff? The entire space felt opaque." This frustration sparked the idea for Supercritical. For the past four years, we've been fully immersed in carbon dioxide removal (CDR), determined to bring transparency to this critically important but confusing market. We’ve mapped out the CDR landscape to understand what's available. We’ve developed rigorous vetting protocols that go beyond additionality and permanence in its criteria. We’ve negotiated contracts to learn the nuances of bankable #offtake agreements. Grappling with these complexities as a CDR marketplace was challenging enough. Yet sustainability professionals are expected to navigate this while also managing numerous other decarbonization initiatives and responsibilities. Having experienced these challenges firsthand, on June 27th we'll unveil our approach to solving them. Stay tuned. #carbonremoval #transparency

Demand for high-quality #biochar is higher than ever. Can supply keep up? We’re not convinced. We recently released a sneak peek into the upcoming launch of live pricing, availability, and capacity for the biochar category of our marketplace. Mapping over 80% of the global biochar market, the report charts the trajectory of this promising removal method over the next four years. The insights we uncovered were both promising and worrying. ⚪ Demand for high-quality biochar is booming ⚪ High-quality credits command higher prices ⚪ As demand for quality rises against limited supply, there is an impending supply crunch ⚪ More biochar supply is coming. But it’s not high-quality What does this mean for buyers? 1. As more buyers aim to avoid the fate of the avoidance market, plagued with claims of fraud and greenwashing, they prioritize high-quality #carbonremoval credits. 2. With the majority of future capacity expected to be low quality, the impending supply crunch can only be resolved by a market-wide shift to the production of high-quality credits. 3. As the supply of top-quality projects begins to dwindle, buyers are moving toward long-term offtakes to secure future supply. 4. Buyers must work with trusted sources to inform and execute their #CDR strategies and be extra vigilant as they engage in procurement. Download the full report in the comments for more insights.

Today Supercritical has joined the World Economic Forum’s Innovator Communities and will be engaging in the Forum’s Centre for Nature and Climate. As a Technology Pioneer, we’ll be collaborating with the world’s most promising start-ups at the forefront of technological innovation, as we work towards our mission of scaling carbon removal to gigatonne levels. 🌍 Climate change is a monumental challenge, but it’s not insurmountable. To limit global warming to 1.5°C we need to remove 10 billion tonnes of CO2 annually by 2050. Currently, we’ve achieved just 0.05% of that target. We’re seriously off track. Despite the significant hurdles, WEF’s recognition of the vital role #carbonremoval plays in combating climate change is an important step forward. The Centre for Nature and Climate has already led impactful initiatives such as the First Movers Coalition and 1t.org (One Trillion Trees initiative). Going forward, we recognise that the Voluntary Carbon Market (VCM) cannot grow without strong demand signals. How do we engage corporations and key stakeholders to turn this global challenge into action today? The market needs greater transparency so that prospective buyers can make informed purchasing decisions and drive real impact with high-quality permanent carbon removal. We appreciate recognition from WEF of our role in driving this forward. #techpioneers24 #WEF #ClimateAction