What's Happening?
Altitude, a carbon removal financier, has announced a new offtake of 120,000 tons of Carbon Removal Certificates (CORCs) from biochar-based facilities in West Africa. This expansion follows an earlier
commitment of 25,000 tons in the region. The projects are verified under the Puro.earth standard, focusing on biomass feedstock and local co-benefits such as soil improvement and regional employment. Altitude's long-term commitment signals the bankability of durable carbon removal, aiming to finance 1.5 million tons of carbon removals within a year.
Why It's Important?
Altitude's expansion in carbon removal efforts highlights the growing importance of sustainable practices in combating climate change. By focusing on biochar-based facilities, Altitude contributes to carbon sequestration and soil improvement, offering environmental and economic benefits. The commitment to durable carbon removal underscores the potential for scalable solutions in developing markets, encouraging investment in sustainable technologies. As carbon removal matures, Altitude's initiatives could influence industry standards and practices, promoting global decarbonisation efforts.
What's Next?
Altitude plans to continue expanding its carbon removal efforts, targeting 1.5 million tons of removals within a year. The company may explore additional partnerships and projects in regions with abundant biomass feedstock. As the carbon removal industry evolves, stakeholders, including investors and environmental organizations, will likely monitor Altitude's progress closely. The success of these initiatives could lead to increased investment in carbon removal technologies, further advancing global decarbonisation goals.
