Altitude Launches Ascent: World’s First 50,000-Ton CDR Financing Fund

Altitude Launches Ascent: World’s First 50,000-Ton CDR Financing Fund

– Altitude launches Ascent, a 50,000-ton financing fund for carbon dioxide removal (CDR) methods like Biocarbon and BECCs.
– Ascent aims to support the scaling of CDR projects by providing long-term financial commitments.
– CDR methods are crucial in addressing climate change by removing carbon from the atmosphere and storing it long-term.

Author’s Take

Altitude’s launch of the Ascent fund marks a significant step towards accelerating the adoption of carbon dioxide removal methods in the fight against climate change. By providing long-term financial support for projects like Biocarbon and BECCs, Ascent is addressing the urgent need for scaling up CDR initiatives to complement emission reductions. This move signifies a proactive approach in combating climate change through innovative financing solutions.

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