Cleantech startup Graphyte announced today a new agreement with JPMorganChase for the purchase of 60,000 […]
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JPMorgan Signs 10-Year Biomass-Based Carbon Removal Deal
Abatify Summary
Nature & Climate Perspective
**Graphyte’s Carbon Casting technology leverages waste biomass to achieve high-permanence sequestration while bypassing the land-use and energy-intensity conflicts associated with traditional BECCS. **
- The process transforms forestry and agricultural residues into carbon blocks, preventing natural decomposition and the resulting release of methane and CO2 into the atmosphere.
- By utilizing existing waste streams rather than dedicated energy crops, the project avoids negative impacts on biodiversity and food security often associated with LULUCF-based credits.
- The methodology ensures long-term environmental stability by sealing biomass in underground storage sites designed to prevent degradation for over 1,000 years.
Market & Policy Outlook
**This 10-year offtake agreement provides the financial maturity needed to scale engineered removals and aligns with ICVCM Core Carbon Principles regarding permanence and robust quantification. **
- The deal reinforces the shift toward high-integrity removals required under the SBTi Corporate Net-Zero Standard, which demands permanent neutralization for residual Scope 3 emissions.
- JPMorgan’s commitment acts as a market signal for financial liquidity, helping de-risk the BiCRS (Biomass Carbon Removal and Storage) sector for future institutional investment.
- The partnership underscores the move away from low-quality offsets toward credits that satisfy ICVCM CCPs, specifically focusing on 'additionality' and 'effective governance' through long-term monitoring.
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