What's Happening?
Altitude, a prominent carbon removal financier, has entered into a significant agreement to purchase over 165,000 tonnes of CO₂ Removal Certificates (CORCs) from biochar-based carbon removal facilities
in Argentina. These facilities are operated by EcoGaia and Emisiones Neutras, utilizing advanced pyrolysis technology to convert waste biomass into biochar, a stable form of carbon that remains sequestered for over a thousand years. The CORCs are issued through the Puro Registry, ensuring transparency and verification. This deal positions Altitude as one of the largest buyers of carbon dioxide removal (CDR) globally, reinforcing its commitment to high-integrity projects that also enhance local waste treatment infrastructure and circular value streams.
Why It's Important?
This agreement underscores the growing importance of carbon removal technologies in addressing climate change. By securing a substantial volume of CORCs, Altitude is not only supporting the scaling of carbon removal infrastructure but also providing financial certainty to project developers. This move is crucial as it helps stabilize the market for carbon credits, encouraging further investment in sustainable technologies. The partnership with South American facilities highlights the potential for international collaboration in the fight against climate change, benefiting both the environment and local communities through improved waste management practices.
What's Next?
Altitude's continued expansion in the carbon removal sector suggests further growth in its global operations. The company has already secured significant volumes of biochar CORCs from other regions, including Western Africa and Southeast Asia. As demand for verifiable carbon removal solutions increases, Altitude is likely to pursue additional partnerships and expand its financing facilities. This could lead to more structured offtake agreements, providing price certainty and encouraging the development of new carbon removal projects worldwide.
Beyond the Headlines
The use of biochar as a carbon removal method not only sequesters carbon but also improves soil health and agricultural productivity. This dual benefit could drive broader adoption of biochar technologies, particularly in regions with significant agricultural activities. Additionally, the transparency and verification provided by the Puro Registry set a standard for accountability in the carbon credit market, potentially influencing regulatory frameworks and market practices globally.
