Carbon Direct has launched an open call looking for carbon dioxide removal (CDR) credits offers for a Fortune 50 buyer.
Prioritizing credits offered directly by developers over those offered by brokers, the call will be accepting proposals until May 14, 2025.
With this move, Carbon Direct is supporting a company described as an experienced Fortune 50 multinational buyer on its mission of securing high-quality carbon removal credits.
On its end, the Fortune 50 company is said to be interested in a procurement amount of 200,000-300,000 total metric tonnes of CO2 removal, with an emphasis on projects that can deliver credits in 2025, 2026, and 2027, with a potential to extend credit issuing beyond 2030.
Carbon Direct has highlighted that once matched with qualifying CDR providers, the buyer is open to increasing the procurement volume from the initially stated amount.
To be considered under this call, projects need to be able to offer a minimum volume of 10,000 tonnes over one year or the amount of 15,000 over two years.
Besides being aligned with the 2024 Carbon Direct Criteria for High-Quality Carbon Dioxide Removal, the projects selected under this call also need to comply with a set of other requirements.
In that sense, this procurement is seeking CDR credits generated through direct air capture (DAC), improved forest management (IFM), afforestation, reforestation, and revegetation (ARR), and bioenergy with carbon capture and storage (BECCS).
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While projects from all over the world are welcome to apply, Carbon Direct clarifies that priority will be given to developers based in North America, India, and the Philippines.
Progress-wise, the call will consider projects in all stages of development, including purchase-ready pre-feasibility opportunities. Still, CDR projects that are currently undergoing validation or are already validated will be favored by the buyer.
Parties interested in applying can find the full list of requirements and details here.
