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illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:
🗞️ Driving the news: Google has signed its largest carbon removal agreement to date, purchasing 200,000 tonnes of CO₂ removal credits from Terradot, a startup specializing in Enhanced Rock Weathering (ERW)
• The deal, slated for delivery starting in 2029, aligns with Google’s $35 million carbon credit purchase commitment announced earlier this year
• Terradot's ERW process involves spreading crushed basalt rock over farmland, capturing CO₂ and improving soil health
🔭 The context: ERW accelerates natural rock weathering to lock CO₂ into soil and rocks, a promising scalable carbon removal method
• Terradot, founded in 2022, operates pilot projects in Brazil, leveraging the region's agriculture and clean energy
• The agreement follows Terradot's $54 million Series A funding round, with investors including John Doerr, Sheryl Sandberg, and Microsoft’s Climate Innovation Fund
🌍 Why it matters for the planet: Scaling ERW could remove billions of tons of CO₂ this decade, making it a crucial tool in combating climate change
• Google's investment supports the development of robust measurement methods and operational scalability, advancing this nascent but high-potential carbon removal solution
⏭️ What's next: Terradot aims to tackle scientific and operational challenges to deliver measurable, large-scale CO₂ removal
• Collaborations like Google's will drive innovation and deployment, while industry-wide interest from buyers like Stripe, Shopify, and Salesforce could accelerate adoption
💬 One quote: “ERW has the potential to remove billions of tons of CO₂ this decade…we founded Terradot to do the improbable.” – James Kanoff, CEO of Terradot
📈 One stat: Google’s deal with Terradot represents the largest-ever ERW agreement, totaling 200,000 tonnes of carbon removal credits
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