July 09, 2024

Growing at the Speed of Transparency

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Acknowledging CDR.fyi Data Partners for their Leadership in Building Trust in Durable CDR

The Speed of Trust

Pretty much everyone has heard of Stephen R. Covey, author of one of the most influential books on personal and professional growth, “The 7 Habits of Highly Effective People.” Over 40 million copies sold, a New York Times bestseller, and named the #1 Most Influential Business Book of the 20th Century. Over 13,000 ratings, average 4.8 stars on Amazon. Talk about having an impact.

Not as many have heard of his son, Stephen M. R. Covey. Stephen M. R. also wrote a book entitled “The Speed of Trust.” Over 2 million copies sold, 4.6 star rating from over 4,000 ratings on Amazon. Not quite the same impact as Stephen R., but voted the #1 book everyone should read by a Glassdoor survey of the top 100 CEOs.

So why are we talking about Stephen M. R. and his book?

We face a global crisis. Temperatures are rising, as are the number of extreme temperature events. Emissions continue to rise. We need concerted and widespread global action now to reduce emissions, and we need to rapidly scale permanent removal of residual carbon emissions from the atmosphere like our lives depend on it.

Unfortunately, there is a lot of risk for most purchasers to invest in carbon dioxide removal (CDR). Much of the science is uncertain. Suppliers are still figuring out how to make their technologies deliver in the thousands of tons, let alone the millions to hundreds of millions we will require down the road. They are concerned about additionality, permanence, and leakage. And they are fearful of the reputational risk of being accused of greenwashing for investing in projects that don’t deliver what they claim, giving rise to the behaviour of greenhushing (keeping their CDR investments on the down low).

We are all groping in the darkness, looking for secure handholds that will enable us to make our way through the uncertainty that is carbon removal.

So how do we make progress?

The business of CDR, like all businesses, will be built on agreements. Those agreements will be based on relationships, and those relationships require trust.

That brings us back to Stephen M. R. Our rate limiter for growth in CDR is our degree of trust.

And how do we increase trust?


Why Transparency Matters

Transparency mitigates risks and builds confidence among stakeholders. Here’s how:

  • Credit Transactions: Transparent transactions help suppliers secure funding and enable purchasers to advocate for investment.
  • Protocols: Clear protocols enhance confidence in project evaluations.
  • Registries: Transparency in registries prevents double-counting of removals.
  • Project and Facility Data: Detailed information from suppliers boosts credibility.
  • Pricing: Open pricing structures provide benchmarks for fair negotiations.

To say that we can only grow at the speed of trust is to say that we can only grow at the speed of the transparency the various participants in the CDR ecosystem are prepared to exhibit.

Acknowledging the Torchbearers of CDR Transparency

Transparency lights the path through the complexities of carbon removal. The following companies, as CDR.fyi Data Partners, exemplify this principle by sharing crucial data about their operations, credit agreements, and project details. Their openness not only educates but also inspires trust within the industry. We acknowledge their leadership and contribution to the growth of the entire CDR ecosystem.

Join the Movement

Transparency is not just a value; it’s a catalyst for scaling CDR. By becoming a CDR.fyi Data Partner, companies can contribute to the collective knowledge and trust essential for the industry's growth and the planet's future habitability.

We also provide them premium access to CDR.fyi insights and data to help them scale their CDR practices.

To learn more about becoming a Data Partner, reach out to us at partners@cdr.fyi

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