
In September, the WBCSD – World Business Council for Sustainable Development released their report “Removing carbon responsibly: A guide for business on carbon removal adoption”. In their report, they emphasize that achieving net-zero is not possible without carbon dioxide removal (CDR).
Below is my TL;DR and takeaways:
🔑 The report identifies seven key principles for responsible #CDR investment, which offer directions on how to: 1)Maximize climate benefits, 2) Minimize associated risks and trade-offs and 3)Contribute to broader Sustainable Development Goals (#SDGs).
📚 One of the challenges of investing in CDR is that it's hard to make like-for-like comparisons across the various CDR methods with varying climate impacts, metrics, and potential side effects, just to name a few. To help companies navigate these complexities, WBCSD proposes a decision framework for crafting a diversified CDR portfolio tailored to individual business needs.
🛠️ A Decision Framework for CDR can help alleviate this complexity and the WBCSD report introduces a Multi-Criteria Decision Analysis (MCDA) process, originally developed by Oscar Rueda, EMBA and colleagues. You can even download their Excel tool they created to help your business create a diverse portfolio.
📉 Creating a diversified CDR portfolio mitigates risks, balances trade-offs, and maximizes benefits. By doing so, companies also send a strong signal of demand to the market, potentially broadening the supply of these methods and driving down costs.
📣 Shoutout to WBCSD – World Business Council for Sustainable Development and South Pole and Mariana Heinrich and Dr. Alexander Nick for pulling together this very useful guide.
Read the full report here: https://lnkd.in/dg3i-s8F
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