NetZero and Rothschild & Co announce multi-year carbon removal partnership
NetZero, a leading French start-up focusing on long-term carbon removal, and Rothschild & Co have agreed a multi-year carbon-credit purchase partnership to support Rothschild & Co’s 2030 sustainability commitments.
NetZero aims to deploy large scale biochar production in tropical areas to remove atmospheric carbon for hundreds of years. Biochar is recognised by the IPCC as a viable climate solution with global removal potential of 1–2 billion tonnes of CO2 per year. The carbon contained in plant residues, initially captured in the atmosphere through photosynthesis, is extracted using a pyrolysis process. The resulting solid product, called biochar, is a very stable form of carbon with charcoal-shred appearance, that is mixed with topsoil to ensure long-term carbon storage, thus achieving long-term carbon removal from the atmosphere.
In addition, NetZero’s model brings numerous co-benefits by leveraging the production and use of biochar in the tropics. Biochar is a powerful agronomic solution acting as soil amendment that durably reduces the need for fertilisers while improving crop productivity. It also enables the production and local distribution of renewable electricity from the excess energy of the pyrolysis process, which enhances access to clean energy in rural areas.
The agreement follows NetZero’s recognition as one of the world’s most promising carbon removal projects in the renown XPRIZE competition, the award of the Solar Impulse Foundation’s label, and news that the credits have been certified by the Puro Standard, a reference certification standard for long-term carbon removal.
Rothschild & Co’s ambition is to continue its efforts to reduce its operational GHG emissions as far as possible, and to effectively remove an equivalent amount of CO2 for all residual, unavoidable operational GHG emissions by 2030 with the help of high-quality long-term carbon removal solutions. This credit procurement agreement forms part of the Group’s balanced portfolio approach to carbon compensation, and Rothschild & Co has committed to purchasing biochar carbon credits from NetZero every year until 2030.
Anne Imbach, Group Head of Sustainability at Rothschild & Co, said: “This multi-year partnership with NetZero presents an exciting opportunity to contribute to the development of impactful and scalable carbon removal solutions that bring strong co-benefits to the environment and local communities.”
Axel Reinaud, Co-founder & CEO of NetZero, said: “This multi-year procurement partnership with a globally respected client such as Rothschild & Co confirms the validity and relevance of our pioneering model, and sends a strong demand signal for high-quality carbon removal solutions that will help support NetZero’s scaling efforts in the years to come.”
Read more articles
-
Growth Equity Update
Insights
In October’s edition, we look at the details of OpenAI’s recent $6.6bn raise, who invested and who didn’t, at the financials and at the state of OpenAI as its mission shifts awy from capped profit status. Meanwhile global VC fundraising in Q3 was twice the level of Q1 and September was a robust month for VC backed company raises on both sides of the Atlantic.
-
Asset Management: Monthly Macro Insights - October 2024
Market Commentary
The global economy grapples with a faltering goods sector and higher geopolitical risks. Nonetheless, investors remain confident that an accelerated policy easing would interact with supportive financial conditions to safeguard the resilience of the global economy, especially since China recently announced a coordinated set of monetary and fiscal measures.
-
Female founders share the secrets to their success
Entrepreneurs
We know that every entrepreneurial journey is different, but there are lessons that all founders can learn from each other. In this series of video interviews, we asked the founders of three successful companies to share their experiences and offer practical advice.
-
Septiembre: El estímulo reaviva el apetito por el riesgo
Monthly Market Summary
La renta variable mundial subió un 2,3% en septiembre (en USD), mientras que la deuda pública mundial se revalorizó un 1,1% (en USD, con cobertura).
-
The importance of experimentation
Quarterly Letter
Adapting to change isn't easy. It requires a willingness to experiment, get things wrong and reflect honestly about how to improve. In this Quarterly Letter, we explore the importance of experimentation, and how looking back helps us to get better at looking forward.
-
Sowing the seeds for regenerative agriculture
Insights
Within 50 years there may not be enough soil left to grow food to feed the world, and more than half of the world’s agricultural land has already degraded. In our third Sustainability Sphere we asked how companies and individuals can address these challenges.