Shopify, startup Running Tide tout ocean carbon removal breakthrough | Greenbiz
Shopify, startup Running Tide tout ocean carbon removal ... GreenBiz
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Ocean Carbon Sequestration: Running Tide Delivers First Carbon Removal Credits to Shopify
Ocean carbon sequestration trailblazer Running Tide announced on Wednesday that it has delivered its first set of carbon removal credits to commerce technology company Shopify.
Transaction Details
Under the transaction, Shopify is receiving 100 of the 275 net metric tons of CO2 emissions removal credits created by sinking 1000 tons of limestone-treated wood buoys a mile deep into the ocean about 200 miles off the coast of Iceland. The wood used for the buoys was sourced from forestry trimming operations in Canada and Europe, where it would have been burned, releasing its carbon dioxide into the atmosphere.
Sustainable Development Goals (SDGs)
- SDG 13: Climate Action
- SDG 14: Life Below Water
This innovative carbon sequestration method has been tested and audited for the first time. Running Tide has been working on behalf of Shopify since 2020 as part of the company’s Sustainability Fund, which supports carbon removal entrepreneurs. While the amount of removal achieved in this project is relatively small compared to global emissions, it represents a novel method that is still being tested.
Verification Process
Deloitte served as the official third-party verifier for the deal. However, due to the absence of comparable projects, the normal avenues for verification were not available. Instead, the calculations for determining the number of carbon removal credits were verified using a methodology developed by Running Tide and Shopify. The companies plan to share this framework with other ocean carbon removal solution providers for consideration.
Importance of Scientific Expertise
Stacy Kauk, head of sustainability for Shopify, emphasized the importance of scientific expertise in improving and iterating on this carbon sequestration method. The involvement of multiple experts will ensure the credibility and effectiveness of the process.
Moving Towards Long-Term Carbon Storage
By sinking the biomass buoys into the ocean, Running Tide and Shopify have stored the CO2 embodied in the materials for thousands of years, preventing its decomposition or quick release into the atmosphere. The formula used to calculate the total amount of sequestered carbon takes into account the weight of the sunk wood and the amount of limestone dissolved, which not only removes carbon but also combats ocean acidification.
Running Tide CEO Marty Odlin explained that this approach helps shift CO2 from fast carbon cycles to slow carbon cycles. Fast cycles involve the absorption and emission of atmospheric carbon dioxide by plants over short periods, while slow cycles store carbon underground or in the ocean for much longer periods, preventing its release into the atmosphere.
Ecological Considerations
While Running Tide’s method shows promise for carbon removal, concerns have been raised about its potential impact on ocean ecosystems. The company has been guided by scientists and research models that have demonstrated minimal negative impacts when sinking biomass along coastlines. However, due to the small-scale nature of their current work, Running Tide is not monitoring the exact ecosystems where buoys are dropped, making it challenging to measure precise impacts.
Validation and Verification
Experts from nonprofit Carbon180, such as Sifang Chen and Charlotte Levy, emphasize the importance of validating the methodology and researching the ecological impact of ocean carbon sequestration approaches. They stress the need for verification, data transparency, and collaboration to ensure the safety and effectiveness of carbon removal solutions. Sharing data and seeking input from the academic community will contribute to building confidence in these carbon removal claims.
Conclusion
Running Tide’s delivery of carbon removal credits to Shopify marks a significant milestone in ocean carbon sequestration. While further research and validation are necessary, this innovative method has the potential to contribute to SDG 13 (Climate Action) and SDG 14 (Life Below Water) by reducing carbon emissions and preserving ocean ecosystems. Collaboration and scientific expertise will be crucial in refining and scaling up this approach for a more sustainable future.
SDGs, Targets, and Indicators
1. SDGs Addressed or Connected to the Issues Highlighted in the Article
- SDG 13: Climate Action
- SDG 14: Life Below Water
The article discusses the carbon sequestration efforts of Running Tide and its collaboration with Shopify. These efforts directly address climate action (SDG 13) by focusing on carbon removal and reducing CO2 emissions. The sinking of wood buoys into the ocean also has implications for life below water (SDG 14), as it explores the potential impact on ocean ecosystems.
2. Specific Targets Under Those SDGs Based on the Article’s Content
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
- SDG 14.2: Sustainably manage and protect marine and coastal ecosystems
The article does not explicitly mention specific targets under SDGs 13 and 14. However, the carbon sequestration efforts of Running Tide and Shopify contribute to the broader goals of integrating climate change measures into policies and sustainably managing marine ecosystems.
3. Indicators Mentioned or Implied in the Article to Measure Progress Towards the Identified Targets
- Carbon removal credits delivered to Shopify
- Amount of CO2 emissions removed through wood buoy sinking
- Impact on ocean ecosystems
The article mentions the delivery of carbon removal credits to Shopify as a measure of progress towards carbon sequestration. The amount of CO2 emissions removed through the sinking of wood buoys can also serve as an indicator of progress. Additionally, the potential impact on ocean ecosystems is an important consideration when assessing the sustainability and effectiveness of the carbon sequestration method.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 13: Climate Action | Integrate climate change measures into national policies, strategies, and planning (SDG 13.2) | – Carbon removal credits delivered to Shopify – Amount of CO2 emissions removed through wood buoy sinking |
| SDG 14: Life Below Water | Sustainably manage and protect marine and coastal ecosystems (SDG 14.2) | – Impact on ocean ecosystems |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: greenbiz.com
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