⚡New paper out on biochar carbon removal as a leading durable carbon dioxide removal method ⚡

CEEZER has just released an insightful paper highlighting how BCR has emerged as the most promising durable CDR technology today. Compared to other industrial CDR methods, BCR has the highest technological readiness level and is ready to scale.

I had the pleasure to contribute some policy insights, and I’m excited to share this release with you all. Here are some key findings on BCR’s presence in the carbon market:

💡 The majority of durable CDR credits that were validated and issued in 2022 came from BCR projects.

📈 The #biocharmarket is maturing, with significant growth in biochar carbon credit sales in recent years. Studies forecast a growth in the market from $164.5 million in 2021 to $365 million by 2028 at a #CAGR of 12.1%.

❗Research from CDR.fyi has found that nearly ~65,000 tCO2e that have been removed from the atmosphere in 2022 have been sequestered using BCR.

📑 The voluntary carbon market (#VCM) is currently the primary market for CDR, but inclusion into the EU Emissions Trading Scheme (#ETS) market could increase demand.

🔑 There are several voluntary standards for biochar certification, including Puro.earth, European Biochar Certificate (#EBC), and Climate Action Reserve. Certification has risen 20% since 2018 and is expected to grow.

🖊 BCR stakeholders are advocating for inclusion in the "permanent removals" category of the #CRCF, to be decided in 2024.

What updates should we monitor looking ahead?

🌐 The US has primarily invested in direct air capture (#DAC), but the number of biochar producers in the USA is expected to reach 200 by the end of 2023.

🇺🇲 The US #FarmBill, due in 2023, holds promise for BCR, with potential investment in the intersection of biochar and #agriculture through the Biochar Research Network Act, which foresees $50 million/year for 5 years.

🇪🇺 The EBI market report (summary here: https://lnkd.in/exqr7NdT) estimates 6Mt of CO2 removed by 2030, or 120% of the EU´s industrial CDR target for 2030. By 2040, BCR could provide 100Mt of CO2 removed in Europe alone.

💥 The European Biochar Market Report predicts that over 50,000 tonnes of biochar, (150,000 tCO2e), will be produced in Europe in 2023.

In 2022, BCR was the most popular method for delivering durable CDR credits. Nonetheless, BCR technology is still largely under-appreciated, so it is great to see companies like CEEZER creating high quality educational content on it. Big shout-out as well to European Biochar Industry Consortium, Hansjörg Lerchenmüller, Thomas Hämmerle, and Harald Bier for their contributions to the field.

How do you see the potential of BCR? What would you add to this analysis?

Read here: https://lnkd.in/ejXSz8BE