Microsoft Partners with Aker Carbon Capture, CO280 to Scale Carbon Removal Market
Microsoft, carbon capture technology company Aker Carbon Capture and carbon removal project developer CO280 announced the launch of a new collaboration aimed at scaling up the carbon removal market across the full value chain, from physical project development to digital measurement, tracking, verification and reporting.
According to the landmark 2022 Intergovernmental Panel on Climate Change (IPCC) climate change mitigation study, scenarios that limit warming to 1.5°C include carbon dioxide removal methods scaling to billions of tons of removal annually over the coming decades.
The report also noted, however, that while there are multiple existing solutions to capture and store CO2, most are early stage and currently limited in scale. Additionally, carbon offsetting through projects such as carbon removal faces quality and verification challenges, with participants often unable to differentiate between high and low quality projects with insufficient or inconsistent data to assess and track the effectiveness of projects.
Egil Fagerland, CEO of Aker Carbon Capture, said:
