ENGIE Buys 5M Tons Of Carbon Removals From Catona Climate

ENGIE Buys 5M Tons Of Carbon Removals From Catona Climate - Carbon Herald

ENGIE, a frontrunner in achieving net zero energy, has secured 5 million tons of carbon removal through nature-based means by 2039 from Catona, a climate finance company. 

This partnership sets a new standard for reducing carbon emissions. It combines cutting emissions in line with scientific targets with removing legacy emissions through impactful projects that capture carbon. 

This agreement also shows how long-term contracts can attract investment in natural carbon removal solutions, expanding the market.

Relevant: ENGIE To Buy 11.5M Tons Of Carbon Credits From ATEC

Jérôme Malka, Executive Committee member at ENGIE‘s business entity ‘Global Energy Management & Sales’ commented: “Now is the time to accelerate the energy transition, and while we must all focus on reducing carbon emissions, reaching Net Zero will imply removing unavoidable emissions.”

“Promoting the development of high-quality nature-based carbon removal projects will contribute to decarbonizing our client’s businesses and help the Engie group reach its Net Zero objective across all 3 scopes by 2045.”

“Key to the success of our carbon financing model is our ability to work with forward-thinking corporations like ENGIE to send unambiguous demand signals to the market,” added Tate Mill, CEO of Catona Climate.

Relevant: Catona Climate And Deloitte To Deliver High-Quality Carbon Credits 

“Those signals help us de-risk carbon investments and drive more capital through our trusted network of project developers to accelerate the development of nature-based carbon removal solutions so critical to turning the tide on climate change.”

Earlier this week, Catona Climate announced its partnership with Deloitte to boost the accessibility of its carbon removal portfolio. 

As part of the partnership, Catona’s portfolio can now be accessed via Deloitte’s comprehensive carbon management tool called GreenLight, which guides large companies through every step of their journey to net-zero emissions. 

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