Carbon Removal Partnership Drives Procurement Innovation
NextGen, a consortium of leading global corporations including Boston Consulting Group, Swiss Re and others are collaborating with Alt. Carbon, an operational expert in carbon removal. Together, they aim to develop and scale processes for removing CO2 from the atmosphere, a critical solution in addressing climate change. The partnership reflects growing demand for sustainable procurement strategies as businesses focus on meeting ambitious net-zero targets.
A procurement-focused approach to carbon removal
Carbon removal refers to the process of capturing CO2 from the atmosphere and storing it long-term, either underground or in materials like concrete. NextGen’s goal is to expand access to these services by creating a robust procurement system that drives market demand and incentivises innovation. Procurement plays a vital role in the collaboration, ensuring that corporate buyers can easily access high-quality carbon removal projects through centralised platforms. The approach streamlines decision-making while aligning purchasing with sustainability objectives.
NextGen’s consortium works collectively to fund and scale the carbon removal sector. Alt. Carbon contributes its expertise by designing and managing operational systems for these projects. The collaboration aims to eliminate barriers to adoption, making carbon removal more accessible and reliable for companies seeking offsets to balance residual emissions.
Procurement challenges in scaling carbon removal
Scaling carbon removal projects involves overcoming key procurement challenges. One obstacle is the lack of standardisation in contracts for carbon removal services. This makes it difficult for procurement teams to evaluate and compare projects effectively. To address this, NextGen is focused on establishing transparent benchmarks, enabling buyers to better understand costs, timelines and environmental impact. By improving clarity, procurement professionals can integrate carbon removal into their broader sustainability plans.
Alt. Carbon's operational insights help address logistical and supply chain barriers, including the high costs associated with scaling removal technologies. These costs often deter corporate buyers, limiting demand. However, by creating procurement frameworks that aggregate purchasing power, the partnership enables companies to pool resources, reducing costs and accelerating project adoption.
Another hurdle is verifying the quality of carbon removal projects. Procurement teams need confidence that purchased offsets deliver measurable, long-term carbon reductions. NextGen and Alt. Carbon prioritise rigorous monitoring and reporting protocols, ensuring that buyers have access to verified solutions. Clear certification processes not only enhance trust but align with corporate reporting requirements, such as those mandated by the Science-Based Targets initiative (SBTi).
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