Investing in Net Zero: Bayer Buys First Technological Carbon Removal Credits

Jun 21, 2023

Bayer AG is continuing on its path towards net zero by acquiring carbon removal credits from climate tech startup Novocarbo. The global enterprise with core competencies in the life science fields of healthcare and nutrition is thus actively supporting a technological carbon removal solution that not only benefits the climate but also agriculture. Callirius AG enabled the cooperation through its platform, based on high-quality standards.

According to the Intergovernmental Panel on Climate Change (IPCC), in addition to drastic emission reductions, carbon dioxide removal solutions (CDR) that actively remove CO₂ from the atmosphere are essential if we are to achieve the all-important Paris Agreement target of maximum global warming of 1.5 degrees. Carbon removal credits are an important lever for promoting carbon removal technologies and thus halting climate change. These are generated from safely and permanently removed quantities of CO₂ and traded on voluntary carbon markets. Companies and private individuals can purchase them voluntarily. This provides financial support for projects that actively remove CO₂ from the atmosphere and at the same time promotes important technological developments for CO₂ removal.

Bayer, one of the world’s leading agricultural groups, is investing in a particularly sustainable carbon removal technology: Biochar. Also known as Biochar Carbon Removal (BCR), this technological CDR solution processes biomass into plant biochar, binds the carbon present in it and stores it in the biochar. If this is then added to a permanent carbon sink (e.g., in soil or concrete), credits can be generated for the amount of carbon safely removed. Biochar, in turn, has a variety of positive effects, primarily as a soil conditioner and nutrient store when used in agriculture. The Hamburg-based company Novocarbo is a leading European biochar supplier and is one of the pioneers in issuing carbon removal credits.

Continue reading at