Here is some additional coverage of Ponterra's ARC Project, which is supported by Rubicon Carbon, Microsoft, and Carbon Streaming Corporation. If you're interested in understanding what a large-scale, native-species reforestation project with strong biodiversity protection looks like, check out GreenBiz Group's coverage: https://lnkd.in/dzPeRFG8
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What does the CDR market look like today? Right now, the market is dominated by advanced market commitments and future offtakes. At the same time, there is a real lack of projects that are both durable *and* affordable as CDR technology and the market continue to evolve. Some buyers are investing in expensive solutions such as direct air capture, oftentimes to help drive down costs. Other, more budget-sensitive buyers opt for more nature-based routes to keep costs down. Here’s Rubicon Carbon’s Amishi Kumar Claros explaining the current state of the CDR market:
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Our chairperson, Anne Finucane, shares her insights from Aspen Ideas. Take a look:
Business Executive, former Vice Chair of Bank of America and former Chair of Bank of America Europe
Thanks to Tina Brown and @aspenideas for inviting me for a great conversation with Former Climate Envoy and Secretary of State John Kerry, Global Energy and Climate Innovation Editor at the Economist Vijay Vaitheeswaran, and TV Journalist Stephanie Ruhle; focused on the $38 trillion dollars needed by 2050 to address the climate crisis. The bottom line is that our future depends on it, and achieving the financing we need CAN happen. Recent movement from the U.S. Department of the Treasury, Department of Energy, and Department of Agriculture have been a big boost, as they acknowledged the need to employ carbon credits to help companies close the delta on decarbonizing their value chain, while waiting for technologies to help advance decarbonization. Further, the recent passage of monumental legislation -- the Inflation Reduction Act, the Infrastructure Act and the CHIPS Act -- all provide funding and momentum to accelerate the technological and financial progress needed to decarbonize the U.S. economy. And the financial sector, from venture capital and private equity to banks and asset managers, will increasingly invest in and fund more climate-forward projects as they continue to see real returns. I am delighted to be working with TPG Rise Climate Fund as a senior advisor and chairing one of its portfolio companies, Rubicon Carbon, which focuses on offering high-quality carbon credits through diversified and risk-adjusted portfolios. Through this work, along with my 27 years at Bank of America, a leader in clean energy financing, I’m continuing to see the kind of progress that’s possible. It’s the combination of good policy, innovation and capitalism that will create the energy market we need to help make a difference. Not unlike what the space program did for technology -- history rhymes. #AspenIdeas; #Aspen Daily News
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We're proud to support IMPERATIVE and to be investors in the team's 100,000-hectare land restoration project in South Africa. Congrats to the entire team on this major milestone!
IMPERATIVE is proud to announce the receipt of our first ex ante carbon rating from BeZero Carbon. The first 10,000 hectare phase of Imperative’s recently sanctioned South African project, which at full scale will restore 100,000 hectares of land through active replanting of native thicket across a vast area in the Eastern and Western Capes of South Africa, has received an ex ante Standalone Carbon Rating of 'aa' and a BeZero Carbon ex ante Rating of 'Ae'. This ex ante rating puts Imperative’s Spekboom project amongst the highest rated Afforestation, Reforestation and Revegetation projects for which BeZero have issued ex ante ratings. This very strong rating serves as a significant external validation and endorsement of Imperative’s commitment to top-decile quality in our carbon credit projects. As execution progresses on the project, we aim to further increase the project’s rating. Read the full release here: https://lnkd.in/g6ZRkvZC #climateaction #voluntarycarbonmarkets
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Our June Newsletter is hot off the press! Inside, you'll discover: - How Rubicon Carbon is helping propel a carbon credit turnaround - Our summary of the US Government's recent policy statement supporting VCM 2.0 - The similarities between the early days of the VCM and derivatives markets, as told by our CEO, Tom Montag Read more here: 👇
Rubicon Carbon Helps Propel a Carbon Credit Turnaround, According to Bloomberg
Rubicon Carbon on LinkedIn
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Greenbiz's Margaret Morales has identified four critical components of Ponterra's ARC reforestation project in Panama. As early investors in this project, we agree with her conclusions. Take a look.
What does it take to secure finance for nature-based carbon projects? 4 critical components of Microsoft's recent offtake with Ponterra's 10k ha ecosystem restoration project in Panama - 1 - Over 8 months of due diligence Microsoft's team visited the site in person, toured the nursery, spoke to the chief forester, and more. The process involved >50 iterations of the project's financial model. And the 8 months was just the due diligence from term sheet to signature; there was plenty of diligence before the term sheet as well. 2 - A large-scale project Because the due diligence is so thorough and time consuming, projects have to be large enough to deliver a substantial amount of credits. The Ponterra Azuero restoration project is currently 10k hectares, but has the potential to expand to 50k ha+. 3 - A committed buyer to crowd in more investment Microsoft not only signed an offtake agreement through 2040 for a portion of the project's carbon credits (agreeing to purchase a set amount of credits on delivery), but also provided some upfront investment into the project. This long-term commitment from a carbon buyer was crucial for bringing two other investors to the table - Rubicon Carbon and Carbon Streaming Corporation. Microsoft’s offtake commitment reduced the price and cash-flow risk for the other two investors, giving them certainty that there would be a purchaser for at least half of the project’s carbon credits in the future. 4 - A long-term mindset that matches nature's timeline Many investment funds have a 5- to 7-year return expectation, and many carbon buyers are looking to secure credits in the near future. Those timelines don’t match the rate of carbon sequestration in nature restoration projects, which can take several years to pick up as saplings grow. The long-term mindset of Microsoft in securing carbon credits for the future, as well as patient capital from the investors was crucial to give this project the capital to scale on a timeline that made sense for the project type. I wrote a few more words about this over on GreenBiz. 🔗 to article in the comments.
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When examining carbon dioxide removal solutions, what is the relationship between the capture mechanism, storage medium, cost, and risk? In this video, Rubicon Carbon's Head of Industrial and CDR Research, Amishi Kumar Claros, explains how the four variables intersect.
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Our CEO Tom Montag recently delivered a keynote address to the International Swaps and Derivatives Association and reflected on the similarities and differences between the advent of the derivatives market and the advent of the voluntary carbon market. We’ve curated some of the highlights of his speech in the attached YouTube playlist. Check it out:
Tom Montag Address to the ISDA AGM 2024: Derivatives and Carbon Markets
https://www.youtube.com/
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“If you’re in a hard-to-abate industry, like steel or cement or aviation, it’s going to be really hard and very expensive to decarbonize,” says Dr. Jen Jenkins, our Chief Science Officer. “A lot of the internal decarbonization strategies are value-destroying. They might cost $500 a ton in order to change processes internally to achieve decarbonization. There’s a point, especially in a voluntary system, where the more expensive it becomes, the less likely they are to do it. If we give them a little flexibility such that they can use a carbon credit strategy, along with their internal decarbonization, we’ll all be much better off.” Here’s Jen explaining the need for carbon credits on the Carbon Herald podcast: Apple Podcasts - https://buff.ly/3Vp8Ryj Spotify - https://buff.ly/4c4rX2f YouTube - https://buff.ly/4bYhMMs
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We recently announced our early-stage investment in a 100,000-ha restoration project in South Africa led by IMPERATIVE, a market-leading project developer. One of the things we like about this project is its use of spekboom (Portulacaria afra), also known as elephant bush. Here are some of the things we love about Spekboom: 1. **Carbon Sequestration**: Spekboom is a powerhouse of carbon absorption, capable of capturing more carbon dioxide than many other plant species in similar semi-arid environments. It can absorb between 4 to 10 tons of CO2 per hectare per year, making it highly effective in combating climate change. 2. **Drought Resistance**: Native to South Africa, spekboom is highly adapted to arid conditions. It can survive long periods without water, making it a resilient choice for xeriscaping and restoring degraded landscapes. 3. **Soil Improvement**: This plant helps improve soil quality by increasing organic matter and promoting microbial activity. Its dense foliage provides ground cover, reducing soil erosion and enhancing soil fertility. 4. **Biodiversity Support**: Spekboom thickets provide habitat and food for various wildlife species, including birds and insects. Its flowers attract pollinators, contributing to the ecosystem's health. 5. **Edible and Medicinal Uses**: The leaves of spekboom are edible and rich in Vitamin C. They have a slightly sour taste and can be used in salads and other dishes. Additionally, spekboom has been used in traditional medicine for its purported health benefits. 6. **Low Maintenance**: Spekboom is easy to grow and requires minimal maintenance, making it an ideal choice for gardeners and landscapers. It can thrive in poor soils and requires little water once established. 7. **Climate Resilience**: This plant is not only tolerant of drought but also can withstand frost, making it versatile for various climates. Its ability to adapt to different environmental conditions further enhances its appeal. Spekboom is an excellent plant for ecological restoration, sustainable landscaping, and climate change mitigation. To learn more about Imperative’s project, check out the funding announcement:
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