Published by Todd Bush on April 17, 2023
LONDON--(BUSINESS WIRE)--Tide, the leading digital business financial platform, has called for UK businesses to kickstart a global carbon removal movement by taking full advantage of underutilised marketplaces to deliver Net Zero.
Last month, Tide became the first fintech in the world to remove 100% of its emissions with durable carbon removal. Tide believes Carbon Removal is one of the most effective ways to make an immediate impact, alongside long-term plans to reduce carbon emissions. New research shows around 1,300 times more carbon dioxide removal from new technologies is needed by 2050 to limit temperature rises to 2C.
Carbon Removal forms part of Tide’s three pledges to become fully Net Zero by 2030 and support its SME members on their own journeys.Tide removed its emissions by purchasing 3,711 tonnes of durable biochar removal through the carbon removal platform, Supercritical.
These 3,711 tonnes sequester (store) carbon dioxide and greenhouse gas emissions in a chemical reaction and store it away for the long term (100+ years). The IPCC reports that biochar is one of the safest, fastest and most durable ways to draw down and store carbon.
Tide’s purchases can be viewed on CDR.fyi, the largest open registry on high-permanence carbon removal, ensuring transparency. According to the CDR.fyi registry, Tide’s biochar purchase makes it one of the top 20 carbon removal buyers in the world and the first fintech globally to do this.
Ian Sutherland, CFO and Head of Net Zero, Tide said: “Saving the planet requires immediate collective action from all businesses. Our own Net Zero journey has highlighted durable carbon removals as an instant and effective way for businesses to manage their carbon emissions. To unlock a more sustainable future faster, we're urging all UK businesses to kickstart a global carbon removal movement by taking full advantage of the innovative, yet underutilised marketplaces.”
Tide worked with Carbon Footprint Ltd to verify its carbon footprint assessment and supporting evidence ahead of making its three pledges. To help others, Tide is a member of Bankers for Net Zero, alongside IcebreakerOne, a non-profit which is developing ‘Project Perseus’, a UK government-backed solution to create rapidly scalable, low-effort, low-friction sustainability reporting. This aims to help unlock access to capital by automating GHG reporting for SMEs and creating a common framework for operational delivery.
Contacts
For more information:
tide@secnewgate.co.uk
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 💡 Bill Gates-backed Startup Says a Global Gold Rush for Buried Hydrogen is Picking Up Momentum 🌍 Largest Hydrogen Highway to Link America and Europe: 10 Million Metric Tons and a...
Inside this Issue 🌿 Gevo to Acquire Red Trail Energy Assets in North Dakota, Including Operating Low-carbon Ethanol Production and Carbon Sequestration Facilities, Expanding Platform for Sustainab...
Inside this Issue 💡 1PointFive's South Texas Direct Air Capture Hub Awarded U.S. Department of Energy Funding 🔗 H2 Clipper's Patented 'Hydrogen Ledger' Uses Blockchain Technology to Track Purity a...
LATHAM, N.Y., Sept. 18, 2024 (GLOBE NEWSWIRE) – Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has secured an order for 25 megaw...
With funding from ARPA-E, the U.S.-manufactured OSAs will make combined carbon removal and clean hydrogen production more scalable, sustainable, and economical than ever before LOS ANGELES, Sept. ...
Funding Will Accelerate the Production of AIRMADE® SAF, the Company’s CO₂-derived Sustainable Aviation Fuel and other Synthetic Fuels September 18, 2024 07:29 PM Eastern Daylight Time NEW YORK--(...
_1PointFive worked with Carbon Direct to deliver science-based community benefits planning and life cycle assessments for the South Texas DAC Hub._NEW YORK--(BUSINESS WIRE)--Carbon Direct today ann...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.