Carbon Business Council Announces COP28 Plans
Leaders from around the world are gathering in Dubai for COP28, where countries will discuss how to realize the goals established in the Paris Agreement. The Carbon Business Council (CO2BC) is thrilled to be participating in COP28.
Our team will be elevating the important role that innovators play in reaching gigaton scale carbon removal and the importance of removals working in tandem with mitigation. Below, we summarize the highlights, events our coalition is participating in, and key carbon removal themes to keep an eye on during the international climate negotiations.
—Carbon Removal Highlights—
Carbon Removals at COP: CO2BC is a partner of the Carbon Removals at COP coalition, which is aggregating all the various carbon removal events happening throughout the two weeks and providing community resources throughout COP.
Carbon Removal Innovators on The Ground: CO2BC Executive Director - Ben Rubin - and Board Chair - Zane McDonald - will be on the ground throughout COP28. We’re excited to be joined by many members of our 100+ company coalition including: Andes, Ebb Carbon, CarbonCapture Inc, Isometric, NextGen CDR Facility, Planetary, Puro.earth, Running Tide, Thallo, Vesta, and Heirloom.
Carbon Removal Events: CO2BC is participating in panels and events throughout the two weeks of COP, including the panels listed below. Register your expression of interest to join us for a Carbon Removals Community Reception that we’re co-hosting with McKinsey on Dec 9th.
Key Themes for Removals: There are five primary carbon removal themes to track during COP28, summarized below.
—Carbon Business Council Events throughout COP28—
Carbon Removals Community Reception
Dec 9th, 6 PM - until late GST | Venue shared upon RSVP.
In an event co-hosted by McKinsey Sustainability & the Carbon Business Council, we will be bringing together key players in the global carbon dioxide removals (CDR) ecosystem in Dubai for COP28, from supplier start-ups to infrastructure investors to carbon buyers. The focus will be to network: share ideas, foster relationships, and support the shared goal of scaling carbon removals to help transform the global economy for a net-zero future. This event will conclude McKinsey’s programme for Carbon Removals and Carbon Markets Day, also on December 9th, which will include a series of panels and events. We plan to keep the event informal – a space to get together and chat about carbon removals over drinks and canapes. If you are interested in joining, please submit an expression of interest and we will be in touch with further information.
Carbon Removal & The Importance of Verification to Scale Removals
Dec 8th, 11AM-12 PM GST | TCR Pathways to 1.5 Pavilion
Scientists have reached consensus that gigatons of carbon removal are needed to meet the goals of the Paris Agreement and the field is growing rapidly. In 2023, there was a more than 400% increase in removals purchases. As carbon removal scales, monitoring, reporting and verification is essential to build trust in the marketplace and confirm the efficacy of removals. In an interactive panel discussion with audience Q&A, we will dive into the role of MRV in the carbon removal market. The panel will discuss why MRV is so critical, challenges and opportunities in MRV as it relates to removals, and more.
Ben Rubin - Executive Director at the Carbon Business Council
Sarabeth Brockley - Head of Carbon Strategy (Corporate Platforms) at NasdaqDan Krekelberg - Policy Director at the Climate Registry
Philip Moss - Chairman at NextGen CDR Facility
Navigating Carbon Markets: A Holistic Approach
December 6th, 10AM-1PM local time | Hope House
Navigating Carbon Markets: A Holistic Approach, hosted by Time for Better, featuring Melissa Jun Rowley from Warrior Love Productions. Hear success stories and case studies of industries that have successfully adopted carbon capture technologies, paving the way for a better future.
Sarabeth Brockley, Head of Carbon Markets, NASDAQ
Ben Rubin, Executive Director, Carbon Business Council
Neil Cohn, Co-founder and CEO of CodeGreen
Catherin Atkin, Carbon Accountable.
Effective and Actionable Governance Frameworks for Marine Carbon Dioxide Removal
December 9th, 11AM-12PM local time | Ocean Pavilion in the Blue Zone
Weighing decisions related to researching and scaling marine carbon dioxide removal include building and maintaining social license to operate, close collaboration and open lines of communication between scientific leaders, policymakers, practitioners, and the communities impacted, as well as engaging with a range of stakeholders to appropriately weigh potential risks against the baseline risk of inaction. Join us for a discussion of how we can put mCDR governance principles into action.
Ben Rubin - Executive Director at the Carbon Business Council
Brad Rochlin - Director of Strategic Partnerships at Running Tide
Rich Powell - CEO at ClearPath
Dr. Anya Waite - Scientific Director and CEO at the Ocean Frontier Institute
Frances Simpson Allen - Director of Policy and Market Development at Ebb Carbon
Assessing Ocean Alkalinity Enhancement as a Climate Solution and Resilience Tool | Livestream available
Dec 2nd, 12:30-1:30PM GST | Ocean Pavilion in the Blue Zone
Ocean alkalinity enhancement (OAE) is a marine carbon removal approach that can also provide relief from ocean acidification. While in its early stages, It is critical to align OAE R&D efforts with sustainable development goals, ocean acidification resiliency efforts, and national and industrial climate pledges. This panel will explore how a variety of stakeholders views ocean alkalinity enhancement research, and how OAE might help to mitigate the worst effects of climate change.
Ben Rubin - Executive Director at the Carbon Business Council
Adam V. Subhas - Associate Scientist at the Woods Hole Oceanographic Institution
Jessie Turner - Director at the Ocean Acidification Alliance
Gabby Kitch - Carbon Dioxide Removal Program Lead at the US National Oceanic and Atmospheric Administration
Katie Lebling- Associate at the World Resources Institute
Prime Minister of Tokelau (Opening Remarks)
—Key Carbon Removals Themes for COP28—
The themes below are listed in the Carbon Removals at COP’s opening press release:
International Negotiations: The draft text of COP27 last year included a call for developed countries to be net negative by 2030. Listen for calls at COP28 from countries in the Global South for developed countries to be held responsible for emissions reductions and to remove them from the atmosphere.
Fossil Fuel Phaseout: Discussions about the phaseout of fossil fuels will be a central focus of the COP28 negotiations, with some countries calling for a complete phaseout and others expected to argue for addressing “unabated emissions.” The science is clear that dramatically reducing emissions is needed to meet the goals of the Paris Agreement, but also clear that gigatons of carbon removal is required even if the world stopped emitting tomorrow. With twin targets, there can be specificity in net zero pledges about how much carbon is being removed from the atmosphere and how much is being reduced.
Global Carbon Markets: Article 6 of the Paris Agreement allows countries to cooperate to reach more ambitious reduction targets by exchanging carbon credits across country borders, including carbon removal credits. Watch for the final agreement on how carbon removal will be included in Article 6.4.
Country Action: Countries in the Paris Agreement prepare Nationally Determined Contributions (NDCs) for how they will meet climate goals and have just completed a Global Stocktake of efforts so far that shows we need more climate ambition. Stay tuned about to see if and how countries introduce carbon removal into their NDC commitments to match the scientific consensus that it’s unavoidable.
Cross-Border Government Collaboration: Keep an eye out for details on the Carbon Management Challenge, an initiative announced by the Biden Administration from the U.S. to work with countries from around the world to scale carbon removal.
