🚨 Big CDR Deal Alert! 🚨 UNDO <> Barclays

🚨 Big CDR Deal Alert! 🚨

🤝 Barclays has signed an offtake agreement to purchase 6,538 tonnes of CDR from enhanced weathering company UNDO.

Having already reduced its Scope 1 and 2 emissions by 95%, the agreement complements Barclays' core net zero operations strategy, primarily focused on decarbonizing the most emission-intensive areas of its operations.

🔝 This is the largest enhanced weathering deal by a British purchaser to date.

📑 The purchase has been underwritten by CFC, a specialist insurance provider in carbon market initiatives.

⛰ As per the agreement, UNDO will spread finely crushed silicate rock across 10,000 acres of farmland at its Ontario-based project in Canada.

🆕 This is Barclays' first durable CDR deal recorded to date.

⬆ At 57th, Barclays is the newest entrant to the CDR.fyi Purchasers Leaderboard, also becoming the largest British purchaser from the finance industry.

📈 With over 47,500 tonnes sold so far, UNDO moves up to 38th on the CDR.fyi Suppliers Leaderboard.

🔗 Read the full announcement here.

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