Summit Carbon Solutions has signed a multi-year agreement to sell Carbon Dioxide Removal credits (CDRs) to the NextGen CDR Facility, a joint venture between South Pole and the Mitsubishi Corporation. NextGen plans to purchase over one million tons of CDRs from large-scale technical carbon removal projects by 2025. The recent purchase of 193,000 tons of CDRs from Summit Carbon Solutions, a leading U.S. direct air capture project, and a Finnish biochar manufacturer is one of the largest CDR transactions to date. Summit Carbon Solutions has developed a Biomass Carbon Removal and Storage (BiCRS) methodology, which is currently under review with Gold Standard for the Global Goals, to ensure project quality and sustainable development goals are met under endorsed ICROA standards.
It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...