• New program by Climate Impact Partners to scale cutting-edge carbon dioxide removal (CDR) solutions.
• Provides early-stage support for high-cost, innovative technologies to achieve global climate targets.
• Aims to remove 10 billion tons of CO2 annually by 2050 with advanced CDR methods.

Climate Impact Partners has launched a groundbreaking program to scale novel carbon dioxide removal (CDR) technologies, enabling companies from SMEs to multinationals to finance innovative solutions and meet global climate targets.

By 2050, 10 billion tons of CO2 need to be removed annually from the atmosphere to meet net zero goals. This program targets this challenge by accelerating the deployment of high permanence carbon removal solutions, such as direct air capture from Octavia Carbon, ocean alkalinity enhancement, and enhanced rock weathering from UNDO Carbon.

Rob Stevens, Director of Product Development at Climate Impact Partners, emphasized the importance of early-stage finance:

“A future with negative emissions technologies becomes one step closer with our program. These innovative technologies need to be piloted, proven, scaled, and made more affordable – early-stage finance is critical to that.“

The program channels financial support to a range of CDR solutions, overcoming high-cost barriers and minimizing delivery risks. This initiative is crucial for scaling innovative technologies and fostering a thriving carbon removal market.

Diana Maranga, Business Development Lead at Octavia, highlighted the necessity of such initiatives:

“The carbon removal market is currently starved of investment, stifling innovation and progress in the sector. Our goal is to scale DAC down the cost curve and lead the charge in reversing the effects of climate change. But, to make that happen, we need private sector initiatives like Climate Impact Partners’ new program to unlock the necessary financial resources.“

Demand for removal technologies is rising sharply, with purchases growing nearly eight-fold since 2022. The number of companies supporting these technologies has doubled, underscoring the urgent need for financial backing.

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Chris Zair, Head of Partnerships at UNDO, added:

“Businesses must establish relationships with carbon project developers to funnel much-needed finance to viable climate solutions. To have the most impact, they should select projects that remove carbon permanently while providing co-benefits to nature and people.“

Companies can track their progress towards Beyond Value Chain Mitigation (BVCM) goals through the Climate Impact Partners Dashboard, ensuring transparency and accountability.

This program represents a significant step towards achieving global net zero targets by making advanced carbon removal technologies more accessible and scalable.