First-Ever Carbon Credits From Toxic Algal Bloom Remediation Are Issued

First-Ever Carbon Credits From Freshwater Toxic Algae Remediation Are Issued - Carbon Herald

BlueGreen Water Technologies (BlueGreen), a pioneer in water-based carbon removal, announced the successful issuance of 12,913 tonnes of carbon dioxide equivalent (CO2e) and fulfillment of a pre-purchase agreement for the sale of Net Blue™ carbon credits (algal bloom remediation credits) at $100 per credit. This successful milestone demonstrates BlueGreen’s end-to-end capabilities and clear advantages in the high-quality voluntary carbon market.

In a global first, BlueGreen’s team of water scientists achieved the first-ever verified removal of CO2 via freshwater harmful algal bloom remediation during treatment of Utah’s Mantua Reservoir in September 2023.

“We are thrilled to deliver our first high-quality, verified Net Blue™ carbon credits. This marks a global breakthrough – the first-ever CO2 removal achieved through the remediation of harmful algal blooms,” said Eyal Harel, CEO of BlueGreen. “This success validates the immense potential of our Net Blue™ technology to transform water restoration into a powerful climate solution. And this is just the beginning.”

Social Carbon Foundation, manager of international greenhouse gas (GHG) standard SOCIALCARBON®, issued 12,913 carbon credits in April 2024 after receiving verification from Earthood. Climate solutions leader Thallo facilitated the pre-purchase of 10 credits to Zumo, the B2B digital assets infrastructure prioritizing compliance and sustainability, as part of a wider portfolio to meet its sustainability needs. The remaining Net Blue™ credits are now for sale.

“Generating high-quality, verifiable carbon credits at scale by means of remediating harmful algal blooms demonstrates the power of water as the world’s greatest natural carbon sink, combined with the environmental, humanitarian, and economic benefits that come with clean water,” said Harel.

“A core mission of the SOCIALCARBON Standard is to facilitate high quality holistic Nature-Based Solutions that not only deliver climate impact, but support biodiversity and local communities to ensure sustainable livelihoods. This milestone represents the first phase of this ambition becoming a reality” said Mike Davies, CEO of the Social Carbon Foundation.

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“Sustainability is one of our founding values and baked into the heart of everything we do at Zumo,” said Kirsteen Harrison, Sustainability Director, Zumo. “Alongside renewable energy procurement to account for our blockchain carbon footprint, we’re now actively engaged in supporting nascent carbon removal technologies to account for our company carbon footprint.”

“We’re committed to increasing the amount of carbon removals year-on-year, in line with the Oxford Offsetting Principles. We’re very excited to be working with progressive partners like Thallo and BlueGreen Water Technologies, who are providing innovative new solutions that will open up the carbon removals market and help us to ensure ESG alignment.”

“This transaction is not just a milestone for Thallo, BlueGreen Water Technologies, and Zumo, but for the entire climate finance sector,” said Nicolas Alexander, Chief Growth Officer, Thallo. “By leveraging digital technologies, we are paving the way for more efficient, transparent, and reliable carbon markets, where Social Carbon credits play a critical role in financing global Carbon Dioxide Removal efforts.”

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The Utah Waterbodies Restoration Programme was carried out in partnership with Brigham City, Utah, at no cost to the City. The project marked the first test of BlueGreen’s Net Blue™ methodology. (See the before and after photos below.)

BlueGreen deploys its technologies across multiple continents to aid the fight against climate change while improving water quality and availability, enhancing biodiversity, supporting local economies, and safeguarding the health of plants, animals, and humans alike.

“Harmful algal blooms infect 60 million lakes around the world, ultimately rendering them ‘dead aquatic zones’. They also hold an untapped potential to remove 5-15 gigatons of carbon each year,” said Harel. “Net Blue™ carbon credits finance our mission to make water safe on a scale never seen before. In our global journey toward Net Zero and dare I say Net Negative, humanity just took a very positive turn.”

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