Clive Booth ESG Foundation - ESG Foundation https://esgfoundation.org/category/clive-booth-esg-foundation Environmental, social impact and corporate governance Thu, 08 May 2025 08:58:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 UK start-up UNDO wins $5 million share of XPRIZE Carbon Removal to accelerate its work removing carbon for good https://esgfoundation.org/uk-start-up-undo-wins-5-million-share-of-xprize-carbon-removal-to-accelerate-its-work-removing-carbon-for-good?utm_source=rss&utm_medium=rss&utm_campaign=uk-start-up-undo-wins-5-million-share-of-xprize-carbon-removal-to-accelerate-its-work-removing-carbon-for-good&utm_source=rss&utm_medium=rss&utm_campaign=uk-start-up-undo-wins-5-million-share-of-xprize-carbon-removal-to-accelerate-its-work-removing-carbon-for-good Thu, 08 May 2025 00:00:00 +0000 https://esgfoundation.org/uk-start-up-undo-wins-5-million-share-of-xprize-carbon-removal-to-accelerate-its-work-removing-carbon-for-good UNDO, a world-leading carbon removal company, has won $5 million from the coveted XPRIZE Carbon Removal competition for its enhanced rock weathering solution with operations in Canada.

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The four-year, $100 million competition is the largest incentive prize in history. It aims to tackle the biggest threat facing humanity – climate change. It encourages the development of high-quality carbon dioxide (CO₂) removal (CDR) solutions that are scalable to gigatonne level and durably and sustainably remove carbon dioxide (CO₂) from the atmosphere and oceans.

UNDO’s enhanced rock weathering (ERW) solution accelerates the natural process of rock weathering, which draws down atmospheric CO₂ and boosts soil health, to generate permanent, high-quality carbon removal with added co-benefits. The IPCC 2022 Mitigation of Climate Change report suggests that ERW, if scaled, could remove up to 4 billion tonnes of CO₂ per year – equivalent to 40% of CO₂ removal targets.

In the final year of the competition, 20 XPRIZE Carbon Removal Finalists were challenged to remove more than 1,000 net tonnes of CO₂. XPRIZE’s assessment included verification of UNDO’s project by two independent verification bodies who recognised that UNDO removed 1,209 tonnes as part of its operations in Canada with fast-weathering wollastonite. The competition included more than 1,300 other applicants from 88 countries.

With customers such as British Airways, Microsoft and McLaren Racing, UNDO is establishing a range of commercial partnerships that will enable the spreading of millions of tonnes of silicate rock each year, a first step towards billion-tonne scale operations. Today’s announcement represents a significant contribution to UNDO’s research and development, helping reduce the cost of carbon removal to make its solution more accessible.

Jim Mann, Founder and CEO at UNDO, said: “Being an XPRIZE winner is a powerful validation – not just of UNDO’s scientific rigour and massively scalable operational model, but of the incredible team and agricultural communities behind it all. In a field of truly impressive innovators, this recognition highlights the enormous achievement of taking enhanced rock weathering from the lab and into the real world. It’s an honour to be part of this winning cohort, united in our mission of creating a livable planet for future generations.

This is a monumental milestone for the climate movement at large,” said David Babson, Executive Vice President, Climate and Energy, XPRIZE. “The vast potential of the carbon removal solutions coming out of this competition highlight the profound impact incentive competitions have in accelerating innovation. We’re proud to serve as a powerful catalyst for transformative solutions to tackle the most pressing global climate challenges.”

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About UNDO

UNDO is a pioneering nature-based carbon dioxide removal company with an ambition to remove over one billion tonnes of atmospheric CO₂ in accessible, affordable, nature-friendly ways. Since 2022, UNDO has worked at the cutting edge of science alongside experts in the climate, carbon and agricultural sectors to develop an enhanced rock weathering technology which accelerates natural weathering processes to remove carbon from the atmosphere while bringing soil and crop benefits to agricultural communities. The UNDO operational, scientific and technical model leverages existing infrastructure, with a carbon efficiency of greater than 90 percent, allowing UNDO to quickly scale operations whilst offering carbon removal at competitive prices.

 About XPRIZE

XPRIZE is the recognized global leader in designing and executing large-scale competitions to solve humanity’s greatest challenges. For 30 years, its unique model has democratized crowd-sourced innovation and scientifically scalable solutions that accelerate a more equitable and abundant future. Donate, learn more, and co-architect a world of abundance at xprize.org.

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TOMRA Spearheads Coalition of Stakeholders to Demand Inclusion of Circularity Provisions in EU Clean Industrial Funding Framework https://esgfoundation.org/tomra-spearheads-coalition-of-stakeholders-to-demand-inclusion-of-circularity-provisions-in-eu-clean-industrial-funding-framework?utm_source=rss&utm_medium=rss&utm_campaign=tomra-spearheads-coalition-of-stakeholders-to-demand-inclusion-of-circularity-provisions-in-eu-clean-industrial-funding-framework&utm_source=rss&utm_medium=rss&utm_campaign=tomra-spearheads-coalition-of-stakeholders-to-demand-inclusion-of-circularity-provisions-in-eu-clean-industrial-funding-framework Tue, 29 Apr 2025 00:00:00 +0000 https://esgfoundation.org/tomra-spearheads-coalition-of-stakeholders-to-demand-inclusion-of-circularity-provisions-in-eu-clean-industrial-funding-framework Key figures within the EU Plastic Recycling Industry and others have joined forces to raise alarm over the European Commission’s draft Clean Industrial State Aid Framework, citing a critical lack of support for circularity measures.

The broad coalition of circular economy stakeholders, led by waste-sorting technology provider TOMRA, today calls on the European Commission to integrate provisions that support circularity measures under the draft Clean Industrial State Aid Framework (CISAF). Despite being recognised as one of the four pillars of the Clean Industrial Deal, circularity is notably absent from the CISAF’s core provisions.

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Bilyana Ignatova, Vice President of EU Public Affairs at TOMRA, warns: “The ambition of the Clean Industrial Deal can only be delivered if the accompanying state aid framework backs all pillars, circularity included, with equal policy attention and financial support.”

The Clean Industrial Deal (CID) recognises that: “Circularity will be a priority. It is the key to maximising the EU’s limited resources, reducing dependencies and enhancing resilience. It reduces waste, lowers production costs, lowers CO2 emissions and creates a more sustainable industrial model that benefits the environment and enhances economic competitiveness. The ambition of the Clean Industrial Deal is to make the EU the world leader on circular economy by 2030.”

The coalition of resource management leaders believes that this ambition cannot be realised without appropriate financial mechanisms in place to scale up circular infrastructure. As such, it expresses deep concern that circularity projects are not explicitly mentioned in the draft CISAF. By embedding circularity at the heart of its decarbonisation strategy, the EU will not only improve the affordability and accessibility of essential materials but also reduce cross-border trade dependencies as materials are reused, remanufactured, recycled and kept within the economy for longer.

Enabling state aid for projects that drive material circularity will make Europe’s industrial production more sustainable, accelerate decarbonisation and improve resource security. Having clear provisions to support circularity under the Clean Industrial Deal is essential to meet the objective of increasing material circularity by 24% by 2030, ensuring that resources remain in circulation as long as possible.

As Europe works towards greater strategic autonomy in a resource-constrained world, it is crucial that all pillars of the CID receive equal policy and financial backing. The coalition insists that including circularity in the CISAF is not only an environmental priority but a vital economic and strategic necessity.

About TOMRA

TOMRA is a global leader in solutions for transforming how we obtain, use and reuse the planet’s resources. With an ultimate mission of realising a world without waste, TOMRA develops systems to enable the circular economy, specialising in resource collection, recovery and sorting for recycling and mining applications, and sensor-based food sorting and grading.

Founded in 1972, TOMRA now has approximately 113,700 installations in over 100 markets worldwide and had total revenue of EUR 1,248 million in 2024. TOMRA’s geographic footprint covers all continents, providing novel solutions for businesses and communities to operate more profitably and sustainably.

For further information about TOMRA, visit www.tomra.com.

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