Growing Our Commitment to Carbon Removal with the U.S. Department of Energy
Published by Todd Bush on October 17, 2024
Meta is pledging to contract at least $35 million for carbon removal projects in the coming year as part of our goal to achieve net zero emissions across our value chain in 2030.
This is a direct response to the Carbon Dioxide Removal Purchasing Challenge presented by the U.S. Department of Energy (DOE), which calls for companies to help catalyze carbon removal at gigaton scales in the coming decades.
Our pledge matches DOE’s own commitment to advance technologies that remove carbon dioxide directly from the atmosphere.
The latest Intergovernmental Panel on Climate Change report makes it clear that emissions reduction and carbon removal are complementary and necessary for a net zero future.
Reducing our GHG emissions across our global operations and value chain remains the most effective strategy to reach net zero.
We will also be supporting high-quality nature-based and technological carbon removal for any residual emissions we cannot eliminate to reach our goal.
Carbon removal will not only play an important role in helping us reach net zero emissions across our value chain in 2030, but it will also help the world avoid the worst effects of climate change.
We hope our pledge will encourage others to make similar pledges, ultimately helping to scale the market and reduce the cost of carbon removal technologies.
We are excited to continue our work to help build the carbon removal market, and look forward to working with partners like DOE to scale climate solutions vital to achieve a net zero future.
>> In Other News: EPA Releases 2023 Data Collected Under Greenhouse Gas Reporting Program
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
World’s First Ship With Full Carbon Capture & Storage System Ready For Pilot Testing
Inside This Issue 🚢 World’s First Ship With Full Carbon Capture & Storage System Ready For Pilot Testing 💰 DOE Invests Nearly $14 Million To Develop Carbon Conversion Pathways 🔬 DOE Invests $1...
-
Plug Closes Loan Guarantee from the U.S. Department of Energy
Inside This Issue 🔋 Plug Closes Loan Guarantee from the U.S. Department of Energy 🗺️ USGS Releases First-ever Map of Potential for Geologic Hydrogen in U.S. 🌎 Constellation to Acquire Calpine; Cre...
-
Plug Seals Deal with Allied Green Ammonia for 3 GW Electrolyzer
Inside This Issue 🌍 Plug Seals Monumental Deal with Allied Green Ammonia for a Mega 3 GW Electrolyzer System 💰 DOE Invests $101 Million to Establish Carbon Capture, Removal, and Conversion Test Ce...
Company Announcements
-
The Series B Funding round is co-led by Hy24 and SC Net Zero Ventures who are joined by Breakthrough Energy Ventures, Enagas Emprende, Equinor Ventures, Exergon, Ezten, and MassMutal Ventures. The...
-
Orennia Completes Series C Funding Led by Decarbonization Partners
CALGARY, Alberta, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Orennia Inc. today announced the closing of its Series C growth financing, led by Decarbonization Partners, a partnership between BlackRock and T...
-
WASHINGTON, D.C. — The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) today announced $45 million in federal funding for six projects to create regional cons...
-
The cost of building new renewable energy plants is now cheaper than operating existing fossil fuel plants globally and exciting opportunities exist for global decarbonization involving hydrogen S...