Carbonfuture and Swiss Re Enter Landmark 7-Year Agreement for Carbon Removal

Jun 13, 2024

Carbonfuture has signed a groundbreaking 7-year contract with Swiss Re to supply at least 70,000 tonnes of Biochar Carbon Removal (BCR) from Exomad Green’s new Riberalta facility in Bolivia.

Under this single contract, Swiss Re can purchase further credits from multiple durable Carbon Dioxide Removal (CDR) projects, ensuring a steady supply of a variety of high-quality durable CDR projects to meet their net-zero goals.

Key Takeaways:

Carbonfuture has signed a groundbreaking 7-year contract with Swiss Re to supply a minimum of 70,000 tonnes of biochar carbon removal (BCR) credits.

This partnership gives Swiss Re access to multiple high-quality carbon removal projects under a single contract, starting with 70,000 tonnes of BCR credits from the Key Supply Partner Exomad Green.

Swiss Re is supporting the development of the carbon removal market by purchasing high-quality CDR over multiple years. This model ensures steady multi-year revenue for removal projects and reduces transaction costs for Swiss Re, serving as an example for others to follow.

Swiss Re is leading the way for high-quality carbon removal by requiring independent third-party monitoring, reporting, and verification (MRV) through Carbonfuture MRV+, ensuring that all credits undergo rigorous tracking, third-party verification, and certification.

Exomad Green’s facility in Riberalta transforms forestry waste into carbon-sequestering biochar, which not only stores carbon but also improves soil fertility, supports Indigenous communities, and reduces deforestation and fire risks through sustainable timber waste management.

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