May 30, 2023 — The UNFCCC’s 6.4 supervisory body had indicated engineered carbon removal such as direct air capture facilities might not be favoured by the body.

Excerpts from Microsoft submission dated May 25:

An ‘all of the above’ approach to removal activities is needed:

Microsoft would like to highlight a differing perspective than that contained in section 3.2 of the preparatory information note regarding the applicability of Engineered activities as it relates to the Article 6.4 mechanism. This point was included in Microsoft’s most recent submission to the Supervisory Board.

• “Given the long project development timelines in this space, simultaneously pursuing both nature-based and engineered removal pathways is critical towards meeting the long-term temperature goals of the Paris Agreement.
• An “all of the above” strategy is needed to meet these ambitious global goals.
• The carbon removal market that is needed by 2030 must be created now, and Microsoft looks forward to continuing to engage with the Supervisory Body as it takes this work forward.”

Firm support for high-quality removal is needed now to meet IPCC timelines and avoid stranded assets:

The Voluntary Carbon Market (VCM) is moving now towards the creation of, and funding for, engineered based removals such as Direct Air Capture (DAC) or Bioenergy Carbon Capture and Storage (BECCS) among others.

Engineered based removal activities do require technological improvements to be deployed at scale.

In order to scale engineered based removals and provide permanent carbon removal at scale by midcentury, pilot and demonstration plants must be built now. Given the IPCC’s guidance that dramatic action is needed at a global scale over the next decade , action is needed now to create the market of the future.

Failure to include engineered removal activities under the Article 6.4 mechanism risks stranding billions of dollars in voluntary carbon market investments over the coming decade.

This risk will cause private actors to hesitate before making the necessary investments to grow the carbon removal market.

Many thanks for considering Microsoft’s thoughts on this matter. We hope they will prove instructive for the Supervisory Body’s upcoming meeting.

Kind Regards,
Cat Martini

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