Samuel Eberenz and Nicole Blasko, Risk-Dialog foundation
CDR Swiss Webinar: Buyers and Investors Shaping the Future of Carbon Removal
On October 31, the CDR Swiss platform hosted this year’s second webinar on the CDR Market – A buyers and investors perspective. We were blessed to receive valuable inputs from Karen Strassel, Senior Science Associate at Carbon Removal Partners (CRP) and Tom Spencer, Environmental Management Specialist from Swiss Re.
An Investor’s Perspective by Carbon Removal Partners
After giving an overview of the players involved in the CDR market, Karen Strassel explains the importance of Venture Capital for most CDR start-ups. Venture capital involves raising funds from various investors, which are then used to invest in promising startups, typically in exchange for equity. The VC firm charges a management fee and profits when these startups grow in value, distributing returns to the original investors based on their contributions. CRP's diverse venture capital investment approach in emerging CDR technologies was highlighted, including Direct Air Capture (DAC), Biomass Carbon Removal and Storage (BECCS), Enhanced Rock Weathering (ERW) and Ocean Capture. To manage the risk which comes with Venture Capital, CRP’s portfolio is intentionally diversified across various CDR solutions and market infrastructure, such as project developers and marketplaces, ensuring a balanced mix of technologies and business models.
A Buyer’s Perspective by Swiss Re
Tom Spencer from Swiss Re, discussed how Swiss Re uses CDR to meet its net-zero goals. Following a 90-10 approach Swiss Re aims to reduce 90% of emissions internally and is scaling up its use of CDR to address the remaining 10%. Additionally, Tom Spencer explains how Swiss Re is moving away from conventional offsets in favour of long-term, durable carbon removal certificates. Through Swiss Re’s own CDR purchases they aim to catalyse the CDR market. Swiss Re’s three-pronged strategy includes the signing of long-term Carbon Removal Purchase Agreements (CRPAs) with selected providers, participating in collaborative purchasing groups (Carbon Removal Purchase Facility, CRPF), and purchasing removals and carbon offsets through carbon marketplaces (Over-the-Counter purchasing, OTC). Emphasizing quality and transparency, Tom Spencer noted that all carbon removal certificates must meet stringent standards for permanence and verifiability. So far, Swiss Re has entered a 10-year CRPA with Climeworks, a 7-year agreement to scale carbon removal with carbonfuture and Exomad Green and joined the NextGen CDR Facility as a founding buyer.
The two presentations were followed by a lively discussion on the role of CDR in companies' SBTI commitments, quality criteria for selecting certain CDR methods for both investment and purchase, as well as the different roles of pre-purchase agreements as opposed to traditional equity funding in scaling the market. Both Karen Strassel and Tom Spencer shared insights into the CDR market. The CDR Swiss webinar underscored the synergistic roles of buyers and investors in advancing the carbon removal market. We are grateful to all participants for their engagement and to our distinguished speakers for their contributions. Thank you for joining us, and we look forward to seeing you at our next webinar in spring!
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Contact usSamuel Eberenz and Nicole Blasko, Risk-Dialog foundationCDR Swiss Webinar: Buyers and Investors Shaping the Future of Carbon RemovalOn October 31, the CDR Swiss platform hosted this year’s second webinar on the CDR Market – A buyers and investors perspective. We were blessed to receive valuable inputs from Karen Strassel, Senior Science Associate at Carbon […]
