SINGAPORE: A team of European carbon removal specialists launched an initiative to help Indian businesses develop projects that suck carbon dioxide (CO2) out of the atmosphere and mitigate global warming.
The Amsterdam-based group, called remove, has helped businesses to raise more than €220mil to support CO2 removal (CDR) projects throughout Europe, and will now accept applications from Indian startups.
Successful applicants will gain access to remove’s network of experts and international buyers, and could be eligible for additional funding.
“We have now found the model that works,” said Marian Krueger, remove’s co-founder.
“We believe this is a global problem and there is tremendous potential in other geographies beyond Europe.”
CDR refers to a wide range of interventions that sequester CO2 that has already been emitted.
It includes reforestation and filters that extract carbon directly from the air.
Indian projects are expected to focus on biochar – charcoal produced from burning organic matter – as well as “enhanced weathering”, where materials like basalt are spread across land to absorb CO2. — Reuters
