Swipeline’s Post

🏭A potential game changer for carbon removals: Google’s deal with Holocene for $100/ton Carbon removal technology has not yet lived up to its potential. Despite the hype it remains too expensive and of limited scale. However, anchor contracts like this one from Google may be able to change these dynamics. Some key things to know: -$100/ton is not the price today but the expected price in several years following innovation and efficiency gains -The price is helped significantly by US 45Q tax credits of up to $180/ton -The move is a boost to the carbon capture and storage (CCS) market reflecting the confidence of Google in the potential of the technology l and may drive other big players to make similar upfront commitments -According to the decarbonization pathways included in the latest Intergovernmental Panel on Climate Change (IPCC) 90% of the path to net-zero will come from reductions, while only 10% will be removals, meaning removals are important but shouldn’t distract from reduction efforts #climate #climatetech #ccs #carbon #emissions #netzero #greentech #decarbonization #ccs #carboncapture

Google is stepping up its efforts in carbon dioxide removal (CDR)! The tech giant recently pledged to procure at least $35 million worth of carbon removal credits within the next one year in support of U.S. federal government is purchasing $35M in carbon removal credits through the U.S. Department of Energy (DOE)’s Carbon Dioxide Removal Purchase program. But that's not all; Google is pioneering the way forward as a significant leader in the CDR domain. Swipe to uncover more! Kate Brandt Spencer Low Anna Escuer Robert Little Justin Keeble Luke Elder Noa Witztum Ben Townsend Praneet Singh Arshi Ted Briggs Anna Meegan Leigh Liu Vrushali Gaud Marsden Hanna #GoogleCDR #CarbonRemoval #TechLeadership #EnvironmentalInitiatives #ClimateAction #SustainabilityLeadership #CarbonNeutralFuture

Brad Smith following your collaboration and partnership announcement last week to build further #AI capacity and infrastructure. Microsoft and LSEG (London Stock Exchange Group) can #innovate further by taking markets further, driven by the need and demand which the above investments generate. Through your partnership with LSEG (London Stock Exchange Group) you have a unique pathway to hyper scale nature based solutions - providing a anchor to scale deep, transparent #carbonmarkets for all. Microsoft and the sector as a whole could be the largest price takers of nature based carbon removal contracts - providing the anchor for a #digital carbon #ECN for all sectors - supporting all carbon instruments from credits to bonds (the coupon generating the carbon offset) Scott Guthrie David Schwimmer As with the $100billion partnership fund, hyper scaling nature based #CCS solutions will scale and support an architecture and ecosystem for carbon markets to flourish #GFANZ #Emissions #ccs #netzero #NYCAW #Carboncapture The World Bank Google Lance Uggla #climateweeknyc

Thank you for the honest & informative discussions ( + follow-up article) about Holocene's innovative organic chemical compounds  increasing capture efficiencies and reduce energy requirement of direct air capture. Such discussions and details from Anca Timofte (Holocene), Jack Andreasen (Breakthrough Energy ), and Jason Hochman (Direct Air Capture Coalition) & CDR.fyi team could not be timelier. Why? The press & the public really got this Google - Holocene deal pretty wrong through the headlines focusing on the price - alluding it is a cost - of the $100 per ton of CO2 deal. The reality that you so honestly and comprehensibly explain is very different: " The current costs of DAC technology are generally seen to be $500 per tonne and up. However, Holocene has committed to delivering around $280 per tonne by the early 2030s, based on the $100 per tonne sale price and the $180 per tonne 45Q tax subsidy. ... Note that the subsidy is based on gross tonnage, not net which means the subsidy per net tonne may be slightly higher.. Let’s also note that Google could be getting a customary first-customer discount and that Holocene’s actual cost per removed tonne may be higher than $280 per tonne." I am hopeful that such nuanced and detailed discussions will help all of us to break out from the CDR as the 'playing field of the techno-optimist super-rich' present narrative/reality and will alert and engage the broader public and policymakers to pay attention not only of CREATING, but also SUSTAINING carbon dioxide removal. We need to acknowledge that without a supportive policy environment removals will not speed and scale-up. We should also recognize that a 'carrots only' ( such as the US 45Q tax subsidy) approach will not be sufficient; we need the 'sticks' that would actually create the DEMAND for CDR.... I know this is a harsh message in the US, but let's be realistic: gigatonne scale will not happen on the back of philanthropy and tax-credits only.... This powerful story of Holocene should help such understanding to emerge !

Axios covers our groundbreaking carbon offtake agreement with Microsoft 🌳: Making history: The 25-year offtake agreement to remove over 7 million tons of carbon from the atmosphere is among the largest U.S. afforestation, reforestation, and revegetation (ARR) projects to date. It amounts to Microsoft's second-largest offtake agreement in its carbon dioxide removal portfolio, according to Brian Marrs, Senior Director for Energy and Carbon Removal at Microsoft. Proven quality: Chestnut's approach involves clear methodologies that ensure that it only counts additional storage of carbon. "We buy non-performing farmland, we restore the open acres back to forests, and we measure that unit of stock, and we measure it on a regular basis," said Benjamin Dell, CEO of Chestnut and Managing Partner, Kimmeridge. Looking ahead: The new contract shows nature-based carbon removal solutions are a growing alternative to the relatively high cost of more artificial ways to remove carbon from the air. Read the full article by Andrew Freedman ➡️ https://lnkd.in/epzW8sdH

Intersect Power has already secured over US$800 million in a funding round led by TPG Rise Climate and Google, with additional participation from Climate Adaptive Infrastructure and Greenbelt Capital Partners. Read more here: https://lnkd.in/dYFyPRJp Follow for more timely news, views, and interviews. You may also subscribe free to access all content here: https://buff.ly/3XiMLeI At The Tech Capital you lead, we report. #TTC #TheTechCapital #YouLeadWeReport #AIdevelopment #ArtificialIntelligence #CleanEnergy #CoLocatedProjects #DigitalInfrastructure #Google #IntersectPower #RenewableEnergy #Sustainability #TPGRiseClimate

🚨🚨 Did anyone else catch this from Bloomberg Green writer Akshat Rathi? Google has stopped calling itself #carbonneutral for the first time since 2007. Why? Because now, they plan on truly going carbon neutral by 2030 by reducing the amount of carbon emissions from their data centers and other cuts instead of purchasing carbon offsets, which they’ve been doing for the past 17 years. What do you think about Google’s evolution on #climatechange? What will their new efforts mean for other #energy intensive industries moving forward? https://lnkd.in/eJrRiNSR #Deliveringacleanenergyfuture #commercialsolar #communitysolar

Google's 2024 Environmental Report is out, and it's packed with exciting updates on our sustainability journey! We're harnessing the power of AI to drive climate action and making significant strides in our operations. Here are some highlights: 🎉We've achieved a 100% renewable energy match for the 7th year in a row. ⚡We've signed contracts for a whopping 4 gigawatts of clean energy capacity. 🔌Ten of our grid regions are now operating on at least 90% carbon-free energy. 💧We've tripled our water replenishment efforts. ♻️The Pixel 8 and Pixel 8 Pro packaging is 100% plastic-free. Our AI-powered tools are making a real difference: 🚗 Fuel-efficient routing in Google Maps has already helped reduce greenhouse gas emissions by 2.9 million metric tons. 🌊 Flood Hub is providing crucial flood predictions up to a week in advance in over 80 countries. We know there are challenges ahead, like the increasing energy demands of AI and the need for systemic change to fully decarbonize. But we're committed to tackling these head-on. We're investing in carbon-free energy, responsibly managing AI's environmental impact, and collaborating with partners across sectors to drive meaningful change. Check out the full report to dive deeper into our progress, challenges, and our ambitious strategy for a more sustainable future: https://lnkd.in/gSpmbkjd #GoogleSustainability #ClimateAction #AIforGood #EnvironmentalReport

Tech giant Google is joining forces with clean energy company Intersect Power and climate investor TPG The Rise Fund to construct what could be termed 'AI-ready industrial parks' – data centres located adjacent to their power source. #climatetech #impact #impactnews #cleantech #energy

In 2023, Google’s GHG emissions were 14.3 million tCO2e, a 13% year-over-year increase and 48% higher than in 2019, driven in part by a 37% rise in Scope 2 (market-based) emissions. This increase was largely driven by increased data centre energy consumption driven by AI. At the same time, Google have announced they will no longer be purchasing carbon credits from avoidance projects, a decision that represents a significant shift in their net zero goals. So what does their new net-zero strategy look like? Google will now follow the example set by the likes of Microsoft and shift their attention to high integrity carbon removals projects, with large deals already announced with the likes of Charm Industrial, Lithos Carbon and CarbonCapture Inc., totalling 62,500 high quality removals. The IPCC have made it clear that removals are essential if we are to limit global temperature rises to tolerable levels and it's so exciting to read more about one of the world's largest companies committing to scaling such an important industry. https://lnkd.in/egKWvrgy