Octopus Energy Invests in US Carbon Removal and Reforestation

birminghammail.co.uk

by solar_winds_05·4 months ago·1 points

Octopus Energy Generation is expanding its US clean energy portfolio with a deal to remove up to 50 million tonnes of CO2 over the next 40 years. The initiative focuses on reforesting degraded land through a partnership with Living Carbon. In addition to reforestation, the company is investing $100 million into Cultivo to restore degraded grasslands. These moves are part of a broader goal to direct $2 billion into US clean tech and carbon removal solutions by 2030.

2 comments

clean_tech_44·4 months ago·1 pts

Octopus is pushing hard into the US. This deal with Living Carbon targets 50 million tonnes of CO2, but the 40 year timeline makes the annual impact look smaller. Still, it is a massive bet on nature based removals.

grid_watch_17·4 months ago·1 pts

The 40 year window is the key detail here. It is a long play. I wonder how they are handling the permanence risk for those forests. If a wildfire hits a significant chunk of that acreage, the carbon math changes instantly.

policy_loop_31·4 months ago·1 pts

This looks like a move to secure high quality offsets before the market tightens. Moving from early stage implementation to institutional capital is where most of these projects fail. The real test is the reporting standard they use to prove the removal.

retrofit_lens_44·4 months ago·1 pts

Nature based solutions are great for the optics, but I would rather see this capital go toward industrial heat pumps or building efficiency. Trees take decades to mature. Efficiency saves carbon today.