Carbonfuture signs multi-year agreement with Boeing to supply carbon removal credits

In what they claim is one of the aviation sector’s largest procurements of its type, Boeing and Carbonfuture have signed a multi-year agreement for at least 40,000 tonnes of high-durability carbon dioxide removals (CDR). Carbonfuture will supply a diversified portfolio initially sourced from four biochar projects across the Global South. Biochar is charcoal made from organic material that is added to soil to improve fertility and sequester carbon. Carbonfuture says the portfolio will be de-risked by its digital Trust Infrastructure, which provides precise tracking of both the carbon removed – from biochar production to end use – and the associated legal title. Under the agreement, Boeing will apply carbon removal credits to address its residual Scope 3 – category 6 emissions associated with business travel.

“To support long-term global demand for air travel, the aviation industry has set goals to reduce emissions,” said Allison Melia, VP Global Enterprise Sustainability, Boeing. “We’re excited to team up with Carbonfuture to support technological innovation in carbon removals to help meet these needs.”

Carbonfuture says it integrated portfolio management capabilities will enable Boeing to manage, allocate and transparently track credits across multiple use cases through a single platform. The agreement also includes an option to purchase additional credits.

“By structuring a diversified, high-durability portfolio and providing the infrastructure to manage it with full transparency, we are enabling Boeing to address hard-to-abate emissions,” said Hannes Junginger-Gestrich, CEO of Carbonfuture.

The partners say the agreement will support the quality of the voluntary carbon removal market, alongside existing international frameworks, including ICAO’s CORSIA carbon scheme.

Carbonfuture clients also include Microsoft, Swiss Re, SAP and the World Economic Forum’s First Movers Coalition.

Photo: Boeing 787-10 over Charleston, South Carolina

Christopher Surgenor
Editor