Most of us have heard of carbon offsets by now.
But how familiar are you withcarbon removals?
Offsetting as a practice has gotten a pretty bad rep, and not at all unjustified.
Indeed, at times, carbon offsetting projects have been proven to do more harm than good.
Whether from well-intentioned incompetence or unscrupulous greed, issues have ranged from biodiversity loss to land grabbing.
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However, a different approach to reducing and removing CO2emissions is evolving.
And cleaning up the atmosphere is exactly what the London-based startupCUR8wants to help facilitate.
Ive definitely felt that theres been all of the scientific proof that weve left it too late.
So obviously, that for an entrepreneur is very enticing, she continued.
The problem was, at the time, she didnt know much about climate science.
Basically, the response she received was, Are you having a laugh?
Committed warming
Why they are so adamant is down to what is called committed warming.
However, in turn, she knew nothing of running a company.
Direct air capture
There are several pathways to carbon removal, both technology and nature-based.
On the technology side, there is direct air capture, or DAC.
Essentially, this sucks carbon out of the air using chemical reactions.
Then, it pumps the CO2deep underground for storage.
According to the IEA, DAC is a key part of the carbon removal portfolio.
However, it is categorised as technology readiness level 6 (on a scale of 1 to 9).
This means that it is in the large-scale and prototype phase, but not ready for commercial deployment.
Spectrum of drawdown speed
Other pathways include something referred to as enhanced rock weathering (ERW).
All of these methods come with their own set of benefits and challenges.
Our portfolio will always contain methods from across the spectrum, she continues.
They can cost anythingfrom between $0.30 to $300.
(Remember the dubiously low cost of your air travel emissions offset?)
Carbon offset credits represent one tonne of carbon dioxide prevented or reduced.
CUR8 has set the cost of its CRCs at 150.
Thats a part of the climate system that otherwise might be harder to solve.
And scaling the industry needs, and rapidly.
Furthermore, it balances benefits and challenges with drawdown speed, as well as reduces risks.
Were a market maker, so were going beyond the broker model.
The broker model is the way that were starting.
Not to be overly dramatic, but the fate of the world may actually depend on it.
Story byLinnea Ahlgren
Linnea is the senior editor at TNW, having joined in April 2023.
Dabbles in gaming and fitness wearables.
But first, coffee.
