New alliance forms to accelerate ocean-based CO2 removal

Image Credit: Vycarb

Leaders from the worlds of commerce, academia, and non-profit organisations have come together to launch the Marine Carbon Dioxide Removal Coalition. The goal of this new alliance is to advance research and accelerate progress in what remains a very young but rapidly growing cleantech sector.

The Carbon Business Council and the World Ocean Council chair the Coalition. It will serve as a platform where knowledge is shared and collaborative research on marine carbon dioxide removal, also known as mCDR, can take shape. Although its members have been meeting informally for the past two years, the official launch marks the beginning of more structured gatherings and a broader invitation for new members to join.

Current members include Puro. Earth, Banyu Carbon, Equatic, SeaO2, Vesta, and Vycarb. They are supported by a group of observers, including Carbon Removal Canada, Cascade Climate, C-Worthy, the Institute for Responsible Carbon Removal at American University, Ocean Visions, and Carbon180.

Toby Bryce, who serves as a policy advisor to the Carbon Business Council, has been chosen to chair the mCDR Coalition.

This initiative is just one part of a larger programme by the Carbon Business Council to strengthen carbon removal across multiple pathways. The Council is exploring not only ocean-based removal, but also methods that focus on land, air, and rocks. Each of these areas benefits from increased collaboration and investment, which together help build resilience and momentum in the sector.

The Marine Carbon Dioxide Removal Coalition is the first organisation of its kind dedicated solely to this emerging field. It also plays an essential role within the World Ocean Council’s work on the European Union Strategies for the Evaluation and Assessment of Ocean-Based Carbon Dioxide Removal project. This project aims to raise awareness and encourage more involvement from both public and private stakeholders.

Policymakers are beginning to take an interest, though often with caution. Innovators and investors, on the other hand, are moving ahead with urgency. One example is Planetary’s XPRIZE Carbon Removal award, which offers $100 million in funding for breakthrough carbon removal companies.

Carbon Dioxide Removal: Key Facts

Carbon dioxide removal, or CDR, refers to the process of extracting CO2 from the atmosphere, the oceans, and even from fuels. The Intergovernmental Panel on Climate Change has emphasized that this process is crucial if the world is to achieve the temperature targets outlined in the Paris Agreement. According to their estimates, six gigatonnes of CO2 will need to be removed annually by 2050 to prevent dangerous levels of warming.

Currently, nearly all carbon removal credits on the global voluntary carbon market are generated through nature-based solutions. These account for ninety-nine percent of the total. Even so, a clear shift is underway as more businesses and investors put their weight behind engineered solutions. The sector is beginning to diversify, and with that comes both opportunity and responsibility for those shaping its future.

Jill Storey, Marine CDR Advisor to the World Ocean Council, said: “Net-zero is now regarded as impossible without carbon removal. Covering 71% of the Earth’s surface, the ocean offers the scale and potential needed to achieve climate goals. The mCDR Coalition is working to responsibly advance this emerging and vital maritime sector while raising its profile globally.”