In the evolving landscape of climate action, businesses are seeking more effective strategies to reduce their carbon footprint. Nvalue, a company dedicated to promoting renewable energy consumption, has recently partnered with Elimini, a new US-based venture established by the climate leader Drax. This collaboration aims to advance carbon removal technologies, marking a significant step towards achieving net-zero emissions.

A carbon credit represents the avoidance or removal of one metric ton of carbon dioxide equivalent (CO₂e) emissions, in the form of a credit. Companies purchase these credits to offset their emissions by investing in projects that either prevent future emissions or actively remove existing carbon from the atmosphere. These projects range from energy efficiency initiatives to reforestation and beyond.

While traditional carbon credits focus on emission avoidance, carbon removal takes a proactive approach by extracting CO₂ directly from the atmosphere and storing it permanently. Technologies such as Bioenergy with Carbon Capture and Storage (BECCS) not only generate renewable energy but also remove existing carbon dioxide. Elimini, launched at Climate Week NYC by Drax, is dedicated to delivering carbon removals on a megaton scale while providing 24/7 renewable power.

Recognizing the need for more impactful climate solutions, Nvalue has joined forces with Elimini to invest in pioneering carbon removal projects centered on bioenergy with carbon capture and storage (BECCS) technology. Elimini is currently reviewing more than 20 potential BECCS sites in North America alone, with additional projects under consideration in six other countries. By advancing BECCS in the United States and beyond, this partnership aims to meet the soaring demand for both 24/7 renewable energy and high-integrity carbon removals.

BECCS is critical because nearly all realistic pathways to limit global warming to 1.5°C or 2°C require developing and deploying carbon removal technologies at gigaton scale while tripling renewable energy capacity. Elimini’s approach pairs continuous renewable energy production with carbon capture technology – the only solution currently capable of delivering both targets simultaneously. This collaboration not only enhances Nvalue’s renewable energy offerings but also positions us at the forefront of innovative climate action by supporting technology that addresses both energy and climate goals effectively.

While carbon removal is essential on the path to net-zero emissions, measurable carbon avoidance projects remain equally vital. Initiatives such as landfill gas capture or the reduction of hydrofluorocarbons (HFCs) play a significant role in preventing additional emissions. Additionally, carbon avoidance projects are highly verifiable, with many initiatives like landfill gas capture being eligible for Core Carbon Principles (CCP). This contrasts with certain areas like conservation, where verification can be more challenging. Given that carbon removal technologies are currently expensive, we recommend our clients consider a blend of project types in their carbon credit portfolios. By focusing primarily on measurable avoidance projects, businesses can make substantial climate contributions while managing costs effectively.

The partnership between Nvalue and Elimini signifies a forward-thinking approach to climate action, embracing both innovation and practicality. By investing in carbon removal technologies spearheaded by Elimini, a new company founded by climate leader Drax, Nvalue is enhancing its commitment to sustainability. However, it’s important to acknowledge that measurable carbon avoidance projects are equally crucial and more accessible at present. A balanced strategy that incorporates both removal and avoidance allows businesses to contribute meaningfully to climate goals while maintaining economic viability.

As companies contemplate their renewable energy and carbon offset options, collaborations like that of Nvalue and Elimini highlight the importance of comprehensive solutions. By blending advanced technologies with practical measures, we can collectively move towards a more sustainable future. Contact us today for an informal conversation.