January 4, 2023

Climeworks

CBA to read?

Climeworks direct air capture (DAC) technology stands as a pivotal technological solution in the battle against climate change.

This innovative system captures CO₂ directly from the air, effectively reducing the atmospheric concentration of CO₂ by utilizing only renewable energy, energy-from-waste, or other waste heat as energy sources.

The working process of this DAC technology follows a three-step approach:

Following this capture process, the CO₂ can be securely and permanently stored underground, thanks to their partnership with storage experts Carbfix in Iceland.

Carbon dioxide removal (CDR) plays a crucial role in combating global warming and limiting the temperature rise to 1.5°C above pre-industrial levels. However, to ensure that CDR solutions contribute effectively to this objective, they must be verifiable, necessitating the establishment of standards to quantify their impact. This endeavor is the primary focus of the monitoring, reporting, and verification (MRV) field.

At Climeworks, they are committed to providing the highest quality CDR service, and thus, MRV is at the core of their development efforts. Their aim is to bring measurability and accountability to the CDR sector, elevating the integrity of the entire ecosystem.

To achieve this goal, they have collaborated with Carbfix and DNV to create the world's first full-chain methodology dedicated to CDR through direct air capture and storage (DAC+S). This comprehensive methodology encompasses two modular approaches, one focusing on DAC and the other on permanent underground mineralization for storage. The methodology has undergone validation by the renowned independent quality and assurance leader, DNV. As a result, it can now be applied to third-party verify CDR produced by projects like Orca, enabling Climeworks to deliver their first-ever third-party verified CDR services to customers in 2022.

In the realm of carbon markets, certification serves as a means of assuring the quality of intangible aspects of a service or product. Similar to how certifications distinguish organic apples at the grocery store, carbon market certifications demonstrate the otherwise imperceptible quality and integrity of CDR to both the market and customers. These certifications result from successful third-party verification that a removal was generated according to a validated methodology and meets a specified standard. Multiple certification labels exist, each representing varying quality standards and evaluation methodologies. The value of a certification lies in the rigor and integrity of the standard and methodology it upholds.

For Climeworks' CDR services, certification means that an independent third party, DNV, has verified that the removals were produced according to a validated methodology jointly developed with Carbfix, covering all three steps involved in DAC+S.

Calculate now

we know you want to 👀

References

https://climeworks.com/blog-the-year-ahead-how-2023-will-shape-the-carbon-removal-industry

https://www.wired.co.uk/article/climeworks-carbon-capture