The US Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) has unveiled plans to launch a voluntary carbon dioxide (CO2) removal purchasing challenge in support of the Biden Administration’s climate goals.
With a public-private partnership structure, the challenge aims to catalyse CO2 credit purchases and improve the transparency of the CO2 removal credit supply.
The challenge will call on external organisations to join DOE in purchasing high-quality CO2 removal credits, following the Department’s recent commitment to procure $35m through the CO2 removal purchase pilot prize.
Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management, said the challenge hopes to advance and rapidly scale up the CO2 removal industry.
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