Today, Verdane becomes the first private equity firm globally to commit to neutralise all its future residual emissions with engineered, permanent carbon removals. Through partnerships with Climeworks, Heirloom, and neustark - essentially to extract CO2 out of the air and either store it or convert it to naturally occurring materials such as stone - Verdane aims to catalyse demand for crucial net-zero technologies that urgently need to be scaled and brought down the cost curve. Bjarne Kveim Lie, Managing Partner and Chief Investment Officer at Verdane, commented: “Until recently, the idea of extracting gigatons of carbon dioxide out of the atmosphere to halt and reverse climate change was thought of as science fiction. But it is now established that carbon removal is going to be a necessary complement to – though of course by no means a substitute for – dramatically cutting global emissions. I strongly believe engineered removal solutions – at scale and at lower cost – are necessary to effectively combat climate change. Both the EU and US governments are committed to carbon removal ‘Earthshot’ initiatives supported by leading international scientific institutions and the United Nations Intergovernmental Panel on Climate Change. Pioneering firms in this area need pioneering customers willing to accept higher short term costs for higher quality offsets. The creation of an early market is critical for the cost of these solutions to come down fast enough to scale fast. Verdane is calling on both businesses and the worldwide asset management community to join in this effort to help create a global market where there isn’t one today.” Read more: https://verdane.com/verdane-becomes-first-private-equity-firm-globally-to-commit-to-neutralise-all-future-residual-emissions-with-engineered-permanent-carbon-removals/