South Pole is the majority owner of the NextGen CDR Facility (“NextGen"), the world's largest dedicated carbon removal portfolio, with ambitions to purchase over one million tonnes of CDRs by 2025. NextGen recently announced the purchase of over 193,000 tonnes from three carbon removal projects. The Carbon Business Council (CO2BC), a nonprofit trade association of more than 100 companies and organizations unified to responsibly restore the climate, represents combined carbon management assets of more than 16.5 billion US dollars.
“From the printing press to penicillin, entrepreneurs have a history of approaching challenges with a problem-solving set of eyes. Because reversing climate change will require multiple solutions coming from both innovators and policymakers, it's important to have market leaders like South Pole at the policy table," said Ben Rubin, the Executive Director and Co-Founder of CO2BC.
As a Cornerstone Member, South Pole will work with the Carbon Business Council on developing policies, elevating why carbon removal is an essential pillar of climate action, planning events, and supporting the carbon removal ecosystem. “We are excited to support the growth of the market for long-term carbon removal solutions by collaborating with the hundreds of CO2BC members in building the industry. These are exciting times with growing interest in the sector, and the unique insights and network that the CO2BC provides will help South Pole and NextGen to be more effective partners and ensure the market grows in a responsible and sustainable way." said Philip Moss, Global Director for Tech Carbon Removals at South Pole and Chairman, NextGen CDR Facility.
Scientists globally have reached consensus that the world needs to remove and manage gigatons of carbon dioxide in order to meet the 2050 goals of the Paris Agreement.
South Pole is the world's leading climate solutions provider and carbon project developer. Since its creation in 2006, it has developed over 850 projects in over 50 countries that have helped reduce over 200 million metric tonnes of CO2 emissions, and provide social benefits to communities who are particularly vulnerable to climate change. Projects range from sustainable agriculture, forest conservation, waste management, to energy efficiency and decentralized renewable energy. South Pole also advises thousands of leading companies on their sustainability journeys to achieve net-zero emissions. With its global Climate Solutions platform, South Pole develops and implements comprehensive strategies that turn climate action into long-term business opportunities for companies, governments and organizations around the world.
South Pole is committed to becoming a B Corp globally across all of its local entities, building on its existing B Corp certification in Australia, the U.S, the Netherlands, and Germany.
The NextGen CDR Facility (NextGen) brings technical expertise and global networks together to unlock the potential of large-scale technical carbon removal. It holds the ambition of purchasing over one million certified carbon removal credits by 2025. The establishment of NextGen follows South Pole's approval as an Implementing Partner of the First Movers Coalition (FMC). Its development was strongly influenced by the Carbon Removal Climate Action Group of the World Economic Forum Alliance of CEO Climate Leaders. NextGen will purchase technical CDRs from projects using a range of technological approaches that offer significant potential to scale, including BiCRS, DACCS, biochar, enhanced weathering, high-temperature biochar, and product mineralization.
NextGen is a partnership between global climate project developer and solutions provider, South Pole, and Japanese conglomerate Mitsubishi Corporation – backed by founding buyers Boston Consulting Group, LGT, Mitsui O.S.K. Lines, Swiss Re, and UBS.
Carbon Business Council (CO2BC), a member-driven and tech-neutral trade association of companies unified to restore the climate, is the preeminent industry voice for carbon management innovators. Together, the nonprofit coalition represents more than 100 companies across six continents with more than 16.5 billion US dollars in combined assets.
