April 25, 2023
The FMC, launched in 2021 by US President Joe Biden and the World Economic Forum, aims to decarbonize "hard-to-abate" industrial sectors that currently account for 30% of global emissions. Companies in the coalition are harnessing their collective purchasing power to send a strong market signal to commercialize zero-carbon technologies. FMC members working within the carbon removal sector, including Microsoft and Swiss Re, have committed to contract 50,000 tonnes or $25M worth of durable and scalable carbon dioxide removal, valued at $25M, by the end of 2030. Carbonfuture has been selected as a Carbon Removal Sector implementation partner to offer solutions that meet high durability and scalability requirements.
Carbonfuture provides an end-to-end digital platform, spanning supply, tracking, and trading of high-value CDR credits based on advanced CDR technologies, such as biochar carbon removal, enhanced rock weathering, and mineralization. Carbonfuture's Tracking System provides a solution to carbon credit uncertainty by utilizing third-party methodologies, auditing, and certification, as well as full digital traceability from retired credit to physical removal, all the way to the end-usage or storage location. This ensures transparency and accountability in the carbon removal process, enabling companies to confidently invest in high-quality carbon credits.
As one of the only platforms with a focus on exclusively high durability, verifiable carbon removal, Carbonfuture brings world-class expertise and proprietary tools, such as its digital MRV (measurement, reporting, and verification) system, to the FMC. Carbonfuture's platform holds a 25% market share and is uniquely positioned to provide value to FMC members as a platform for buyers of CDR.
"We welcome Carbonfuture to the First Movers Coalition. Their focus on high durability, verifiable carbon removal aligns perfectly with the FMC's goals to deploy carbon removal technologies at scale. Carbonfuture's digital platform and tracking system will provide valuable tools to enable FMC members to purchase CDR credits. We look forward to working with Carbonfuture to accelerate the development and deployment of removal solutions," said Nancy Gillis, Head of the First Movers Coalition.
Carbonfuture's membership in the FMC further solidifies their position as a leader in industrial carbon removal and their commitment to the decarbonization of the global economy.
'We are excited to join the First Movers Coalition and collaborate with other leaders in carbon removal to accelerate the deployment of high durability, verifiable carbon removal technologies," said Hannes Junginger-Gestrich, CEO of Carbonfuture. "Our platform is uniquely positioned to provide high- quality and trustworthy carbon removal, serving as the essential digital trust layer required to make carbon removal both bankable and scalable. We look forward to working with the FMC to achieve our shared goal of a net-zero carbon future by scaling trustworthy carbon removal.”