Harness the Ocean’s Power: CDR technology

By KlimaDAO (Apr 23, 2024)

Carbon Dioxide Removal (CDR): An overview

Until recently, the Voluntary Carbon Market has focused almost exclusively on carbon reduction or avoidance credits that fund projects reducing or mitigating ongoing emissions. However, recent technological advances give humanity other options in terms of removing carbon from the earth’s atmosphere. Indeed, according to the SBTi standard, a credible net-zero strategy must combine both emissions reductions, avoidance and the active removal of unavoidable carbon dioxide emissions.

The term ‘CDR’ refers to a range of methods and technologies aimed at pulling CO2 out of the atmosphere and storing it permanently. It is a wide-ranging concept that embraces both natural approaches like reforestation and technological methods like direct air capture (DAC). Once it is deployed at scale, CDR could complement emissions reductions by helping restore balance to the carbon cycle and buying time for economies to transition toward carbon neutrality. Furthermore, CDR offers potential new opportunities in carbon removal credits, which incentivize organizations to directly take CO2 out of the atmosphere. If CDR projects can reliably quantify, verify, and account for CO2 removal, they can generate extremely high-quality credits by permanently eliminating or storing emissions.

Some CDR techniques are already viable, while others require more research and development. The most promising types of CDR technologies and approaches include:

• DAC: Engineered systems such as that deployed by Climeworks, which use chemical processes to directly capture CO2 from ambient air.
• Bioenergy with carbon capture and storage (BECCS): Growing biomass for energy production and capturing the resulting CO2 emissions before release.
• Afforestation/reforestation: Planting trees and restoring forests to absorb and store more carbon dioxide.
• Enhanced weathering: Accelerating natural chemical reactions that bind CO2 by spreading crushed minerals.
• Carbon mineralization: Converting CO2 into stable inorganic carbonates, locking away the carbon.
• Biochar production: Converting biomass into long-lasting charcoal that can be added to soils to store carbon.
• Ocean alkalinity enhancement (OAE): Adding alkaline compounds to seawater to increase its buffering capability to absorb more CO2.

More About Ocean Alkalinity Enhancement (OAE)

OAE is one of the less widely known but still immensely promising types of CDR. Simply put, it is a human-engineered intervention that speeds up nature’s processes, amplifying the ocean's natural carbon absorption power using alkaline mineral additions. Adding ground rock minerals such as limestone to seawater converts dissolved CO2 into stable bicarbonate ions, sequestering it for millennia. The resulting CO2 deficit prompts atmospheric CO2 to move into surface waters to restore equilibrium. The oceans are already the planet’s largest carbon sink; if scaled appropriately, this approach could significantly improve the ocean's vast capacity to absorb and store carbon.

Moreover, being based in nature and using minimal geoengineering-style interventions, OAE has relatively predictable effects and also multiple environmental co-benefits beyond slowing climate change. These include:

• restoring damaged marine ecosystems by creating favorable conditions for coral reefs and calcifying organisms;
• boosting biodiversity and fisheries through improved water quality;
• enhancing coastal protection and erosion control by reversing acidification;
• improving coral reef resilience and regeneration;
• stimulating the growth of pH-sensitive marine vegetation like seagrasses;
• protecting pH-sensitive marine species including plankton and mollusks; and
• safeguarding marine food webs by preventing acidification-induced collapse.
  

By comprehensively promoting ocean health, OAE represents a climate solution with immense potential to revitalize our seas.

The Role of Blockchain in Advancing Carbon Markets

A significant advancement in the carbon market is the adoption of Automated Market Makers (AMMs), a technology that has been actively developed and applied by KlimaDAO.

Traditionally, carbon credits have been purchased through Over-the-Counter (OTC) deals, where buyers and sellers negotiate and agree on prices, setting the asset’s market value based on these transactions. This conventional approach is common across various asset markets, including stocks, gold, and real estate.

In contrast, AMMs introduce a novel approach to trading. These decentralized financial tools, unique to Ethereum and the decentralized finance (DeFi) ecosystem, provide a permissionless and continuously accessible platform for asset exchanges. AMMs eliminate the need for direct buyer-seller negotiations, embodying the core principles of Ethereum and blockchain technology—decentralization, transparency, and innovation.

Through the application of AMMs, KlimaDAO has successfully integrated over 20 million carbon credits onto the blockchain, enhancing liquidity on platforms such as Polygon and Base. This advancement not only streamlines trading but also supports the scaling of financing for various Carbon Dioxide Removal (CDR) projects. By leveraging blockchain technology, these efforts contribute to the broader goal of restoring carbon balance and addressing climate change.

This development highlights the transformative potential of blockchain technology in carbon markets, demonstrating how innovative tools can redefine traditional trading practices and support sustainable solutions.

Conclusion

Carbon Dioxide Removal (CDR) is emerging as a vital component of global strategies to combat climate change. As we develop various CDR technologies, from direct air capture to ocean alkalinity enhancement, we unlock new opportunities to restore the carbon balance and mitigate the effects of climate change. Specifically, OAE not only aids in achieving net-zero targets but also offers substantial co-benefits, such as enhancing biodiversity, restoring ecosystems, and improving marine health. By embracing these innovative solutions, we can make significant strides towards a sustainable and resilient future.

This article was originally published by KlimaDAO on April 23, 2024. For the original article, please visit KlimaDAO's website.