ClimeFi

We’re proud to announce that Boston Consulting Group (BCG) has purchased over 50,000 tonnes of certified carbon dioxide removals (CDRs) through ClimeFi. This is the second largest durable CDR purchase to date for BCG and brings the firm’s total purchases to nearly 200,000 tonnes, securing BCG’s position in top 10 global buyers of durable CDR, as reported by CDR.fyi. By collaborating with ClimeFi, BCG accessed a portfolio of high-quality durable carbon removal solutions and ongoing tracking of project performance over time. The portfolio’s diverse range of methodologies reflect BCG’s dedication to supporting an array of technological innovations in the carbon removal space. And with a targeted delivery completion within the next two years, this deal demonstrates BCG’s commitment to take action to mitigate climate change in the near term, while helping to unlock the potential of these innovative technologies to drive broader climate impact in the long-term. For more information about BCG’s sustainability initiatives and its commitment to climate action, visit the BCG Net Zero https://lnkd.in/e8jqaKNt or read the full press release here: https://lnkd.in/gekhT6Kz ClimeFi blog coverage: https://lnkd.in/gRbwQQ6i #ClimeFi #BCG #CDR

✨ Happy Holidays from ClimeFi! ✨ As we bid farewell to an incredible year of significant #CDR progress, we're filled with gratitude. Thank you for being part of our journey! ✨

A Roadmap for Sustainable Biomass Sourcing and the EU CRCF In November, the European Union officially approved the Carbon Removal and Carbon Farming Regulation - the EU CRCF. The voluntary framework is the first EU-wide regulation designed to certify activities that permanently or temporarily remove CO2 from the atmosphere. Its adoption is a step in the right direction for high-quality carbon removals. If not at the very least for its encouragement of robust and transparent reporting standards. Many questions remain for its implementation for durable carbon removals. One in particular is which biomass projects will be eligible against the EU CRCF and its criteria for biomass sourcing. ➡️ The challenge: Biomass demand is growing across many industries - from products, to energy, to removals. There is a need to identify what constitutes for waste biomass and which industries should be prioritised for biomass use. This criteria varies across geographies. ➡️ The regulation: The CRCF will likely align with EU RED III Article 29 sustainability criteria for biomass. This criteria includes restrictions on what biomass can be used based on its supply chain, its use case, and also on the potential for biodiversity value. ➡️ The risk to buyers: Sustainable biomass sourcing will be a condition of how policy is interpreted. This EU criteria varies from others. Therefore, a biomass project operating overseas with different regulation or criteria in place, may not be eligible against the EU criteria and be unlikely to generate CRCF certified units. If CRCF compliance is a strategic priority, understanding this distinction is important. Ultimately, biomass regulations vary and so to does project eligibility under different compliance mechanisms. As biomass carbon removals scale, understanding buyer risk from sustainable biomass sourcing will become increasingly important and increasingly complex. There is not one-size fits all solution. At ClimeFi we have spent time understanding and unpacking these complexities in our latest report - Demystifying Biomass Carbon Removals. And have set out a comprehensive Roadmap for Sustainable Biomass Sourcing (see image). To learn more about ClimeFi’s due diligence approach read our report (link in the comments) or reach out to the ClimeFi team: https://lnkd.in/gz9ZGHrU #CRCF #CDR #ClimeFi #climatepolicy

ClimeFi (formerly CarbonX) was actively engaged in Baku, Azerbaijan during an eventful COP29 Azerbaijan where we saw a number of significant developments. Three of the key highlights from the meetings include: Adoption of Article 6 ▶️ Agreement was reached on the rules for the new Paris Agreement Crediting Mechanism (PACM), which provides the foundations to enable an international carbon market that countries can use to collaborate on meeting their Nationally Determined Contributions (NDCs). Increased climate funding for adaptation ▶️ The “Climate Finance COP” realised a new pledge (the New Collective Quantified Goal or “NCQG”) from developed nations to contribute at least $300 billion annually to support adaptation, with a target to reach at least $1.3t by 2035. Announcement of the Global 1000 CDR Challenge ▶️ Tackling limited corporate participation in the CDR market, ClimeFi announced a new initiative to build liquidity with the XPRIZE, the Global 1000 CDR Challenge (https://lnkd.in/gyeX5jkM), which calls on the world’s 1000 largest companies to purchase 1,000 tonnes of CDR in 2025. While this progress is promising, work still needs to be done to unlock the global CDR market. In light of a global carbon market beginning to take shape, it is now vital that separate targets for emission reductions and permanent CDR are established; ensuring removal projects can be built and scaled while recognising the different fundamentals of each asset. #COP29 #ClimeFi #XPRIZE #Global1000CDRChallenge

Announcing the Global 1000 CDR Challenge at COP29 Today, {{linkedin_mention(urn:li:organization:84962731|ClimeFi (formerly CarbonX))}}, in partnership with @[XPRIZE](urn:li:organization:18183), formally launches the Global 1000 CDR Challenge at the 29th United Nations Climate Change conference @[COP29 Azerbaijan](urn:li:organization:103125233) taking place in Baku. The challenge calls for immediate action by each of the world's largest 1,000 companies to enter new purchase agreements for at least 1,000 tonnes of permanent carbon dioxide removal (CDR) in 2025. The Challenge would realise a collective commitment that could exceed one million tonnes of new demand for CDRs globally by the end of next year. Participating companies will be recognised on a dedicated leaderboard at https://lnkd.in/gGsGvidk, providing visibility to those leading the way. By fostering demand and ensuring access to creditworthy offtakes, the Challenge paves the way for scalable and durable carbon removals. To learn more about this initiative and its impact, head to our blog at the following link https://lnkd.in/g-uP-wKX #Global1000CDRChallenge #COP29 #CarbonRemoval #ClimeFi #XPRIZE #CDR

ClimeFi (formerly CarbonX) CEO Shares Our Journey and Renewed Commitment Our CEO, Paolo Piffaretti, shared an insightful post about #ClimeFi's journey and our mission to scale Carbon Dioxide Removal (#CDR) infrastructure. With the growing need for critical climate infrastructure, we're doubling down on driving demand for CDR, reaffirming our dedication to addressing global climate risks. Join us on our mission to secure a sustainable future for our planet. #CDR #ClimateAction #Sustainability #ClimeFi

COP29: Driving Climate Commitments Forward With COP29 Azerbaijan now underway in Baku, urgency for holistic approaches to the climate crisis has never been more relevant. COP negotiations provide a critical mechanism to mobilise capital aligned with carbon reduction goals, policy frameworks, and commitments that can drive meaningful change. Hosted by #Azerbaijan, this year’s conference has been billed as the “Finance COP”, with the global community looking to set a new climate finance goal. In order to ensure that climate financing is being deployed to achieve Net Zero, a dedicated target for permanent carbon removal (CDR) solutions must be established. A #CDR target, in parallel to existing reductions targets, will ensure Paris Agreement pathways can be realised while minimising the worst impacts associated with overshooting the 1.5°C global warming limit. Philip Moss, Chief Investment Officer at ClimeFi (formerly CarbonX), will be attending. #ClimateFinance #NetZero #ClimeFi #COP29

Breaking news! Since 2022, CarbonX has been leading the way in building the market for permanent carbon removal, having purchased over 80,000 tonnes and partnering with leading corporate buyers including Adyen, Boston Consulting Group (BCG), Euronext and more (stay tuned!). Given the rapid development of the company and the CDR industry, we have recently raised additional funding to help scale the company from investors ENGIE, Redstone and PROfounders Capital, to continue the evolution of the company into the leading manager for CDR assets globally. With all this progress, we are making a few changes to help focus and strengthen our offering. Firstly, we have decided that the time is right to change the name of the company, to ensure it more accurately reflects our mission, so moving forward we will be known as ClimeFi! This new brand signifies our efforts to address climate related risks on a global scale by mobilising the finance necessary to address the challenge. ClimeFi (formerly CarbonX) will continue to hone our focus and expertise on managing permanent CDR portfolios and supporting peer buy side institutions to help deliver more demand to the CDR market. Secondly, in order to help achieve these objectives we are also delighted to announce key additions to the ClimeFi team. Philip Moss, former Chairman and Managing Director of NextGen CDR, will be joining ClimeFi in a newly created role as Chief Investment Officer, accelerating our engagement with the CDR buyers community and developing targeted offerings that meet the needs of the CSO community. Victoria Harvey, instrumental in leading and designing the BeZero Carbon ratings for engineered carbon removals, joins as CDR Strategy Lead and will strengthen ClimeFi's due diligence and assessment processes for project onboarding. Sarah Mateu, with a background in Climate and Engineering, joins the Operations team to provide additional insights and capacity for diligence and portfolio management. These new appointments signal the ambition of ClimeFi (formerly CarbonX) to be the leading financial services company to the carbon removal industry and the growth of the company. We look forward to engaging with you all under our new moniker and hope to have further conversations at the upcoming events later this year. Please find more information on our announcement: https://lnkd.in/eKXKF_dn

Breaking news! Since 2022, CarbonX has been leading the way in building the market for permanent carbon removal, having purchased over 80,000 tonnes and partnering with leading corporate buyers including Adyen, Boston Consulting Group (BCG), Euronext and more (stay tuned!). Given the rapid development of the company and the CDR industry, we have recently raised additional funding to help scale the company from investors ENGIE, Redstone and PROfounders Capital, to continue the evolution of the company into the leading manager for CDR assets globally. With all this progress, we are making a few changes to help focus and strengthen our offering. Firstly, we have decided that the time is right to change the name of the company, to ensure it more accurately reflects our mission, so moving forward we will be known as ClimeFi! This new brand signifies our efforts to address climate related risks on a global scale by mobilising the finance necessary to address the challenge. ClimeFi (formerly CarbonX) will continue to hone our focus and expertise on managing permanent CDR portfolios and supporting peer buy side institutions to help deliver more demand to the CDR market. Secondly, in order to help achieve these objectives we are also delighted to announce key additions to the ClimeFi team. Philip Moss, former Chairman and Managing Director of NextGen CDR, will be joining ClimeFi in a newly created role as Chief Investment Officer, accelerating our engagement with the CDR buyers community and developing targeted offerings that meet the needs of the CSO community. Victoria Harvey, instrumental in leading and designing the BeZero Carbon ratings for engineered carbon removals, joins as CDR Strategy Lead and will strengthen ClimeFi's due diligence and assessment processes for project onboarding. Sarah Mateu, with a background in Climate and Engineering, joins the Operations team to provide additional insights and capacity for diligence and portfolio management. These new appointments signal the ambition of ClimeFi (formerly CarbonX) to be the leading financial services company to the carbon removal industry and the growth of the company. We look forward to engaging with you all under our new moniker and hope to have further conversations at the upcoming events later this year. Please find more information on our announcement: https://lnkd.in/eKXKF_dn

We are happy to announce that Paolo Piffaretti, Co-Founder of CarbonX Climate, will be speaking at the 20th Anniversary of Cleantech Forum Europe, taking place in Chantilly, France from November 5-7, 2024. Paolo will be discussing carbon procurement strategies, market trends and the role of permanent carbon removal in advancing the journey to net zero. We’re pleased to join an impressive lineup of speakers and companies, including Julia Reinaud, Senior Director for Europe at Breakthrough Energy , Adelaide Cracco, Head of Climate and Environmental Impact Investments at the European Investment Fund (EIF), and Michael Klimbacher, Director at Decarbonization Partners. Together, we'll be sharing insights and collaborating on the future of cleantech. #CleantechForumEurope #20thAnniversary #NetZero #CDR #Sustainability #ClimateAction #CarbonX