Co-benefits: The True Measure of Effective Climate Action
The urgency of the climate crisis demands immediate and effective action. At the heart of this movement lies the fundamental goal: saving both people and the planet.
While high-tech methodologies such as Direct Air Capture (DAC), Advanced Rock Weathering, Bioenergy with Carbon Capture and Storage (BECCS), and Ocean Alkalinisation offer promising, future solutions, it’s crucial to consider the broader, impact of our investments.
Specifically, we must ask: what is the real benefit without co-benefits, and the potential for near-term scaling?
The Core of Climate Action: People and Planet
The climate change movement has always been about more than just reducing carbon emissions. It is about safeguarding our environment and ensuring a sustainable future for all humanity. Initiatives that prioritize people and the planet above profits are not just ethical choices; they are essential for the long-term success of climate action. This is where the concept of co-benefits comes into play.
Co-benefits are the additional advantages that climate mitigation strategies provide beyond the primary goal of reducing greenhouse gases. According to the Intergovernmental Panel on Climate Change (IPCC), these benefits can include improved public health, enhanced biodiversity, economic opportunities for marginalised communities, and better air and water quality. For example, a report by the World Resources Institute (WRI) emphasizes that projects incorporating co-benefits often achieve more sustainable and equitable outcomes, creating jobs and boosting local economies in the process. Additionally, research published in Nature Sustainability highlights that co-benefits can significantly enhance the overall effectiveness of climate action, providing a more holistic approach to tackling the climate crisis.
(IPCC) (IPCC) (World Resources Institute) (IPCC 5th Assessment Synthesis Report).
Understanding Co-benefits
Co-benefits are the additional advantages that climate mitigation strategies provide beyond the primary goal of reducing greenhouse gasses. These benefits can include improved public health, enhanced biodiversity, economic opportunities for marginalised communities, and better air and water quality. Projects that generate co-benefits address multiple issues simultaneously, making them more holistic and sustainable solutions.
For example, improved public health can directly result from reduced air pollution from sustainable agricultural practices like biochar production. Enhanced biodiversity often follows from agroforestry projects that sequester carbon while rehabilitating ecosystems. Economic opportunities arise for marginalised communities when they are engaged in climate action projects, such as training smallholder farmers in sustainable practices, which can provide new income streams and improve food security.
Projects that improve air and water quality not only contribute to climate resilience but also provide immediate, tangible benefits to local populations. Cleaner air reduces respiratory illnesses, and cleaner water supports both human health and biodiversity. A study by the World Health Organisation (WHO) found that reducing air pollution through sustainable practices can significantly lower healthcare costs and increase productivity.
The integration of co-benefits into climate projects can lead to greater community buy-in and support. When communities see direct, positive impacts on their daily lives, they are more likely to support and sustain these initiatives over the long term. Research from the Environmental Defense Fund (EDF) indicates that climate projects with strong community engagement and co-benefits are more likely to be successful and scalable.
To truly address the climate crisis, we must prioritise solutions that deliver comprehensive benefits for both people and the planet. Artisan Biochar is a prime example of this, as it not only sequesters carbon but also significantly enhances soil fertility, water retention, and crop yields. Unlike many high-tech carbon removal methods, biochar provides immediate and tangible benefits to local communities, improving public health and creating economic opportunities for marginalised populations. The clock is ticking to avoid surpassing the 1.5°C threshold, and by scaling up nature-based solutions like biochar, we can achieve meaningful and holistic climate action. - Dominic Hafner, CTO Biochar & PM Global Artisan C-Sink Standard at Carbon
By focusing on co-benefits, we address the primary challenge of reducing greenhouse gasses and creating resilient, thriving communities. This holistic approach ensures that climate action is not just about mitigating harm but also about enhancing the quality of life for people.
The Limits of High-Tech Carbon Removal
While high-tech carbon removal methods like Direct Air Capture (DAC) and Advanced Rock Weathering have their merits, they often come with significant limitations. These technologies typically require substantial investment, advanced infrastructure, and long lead times to become operational. For instance, DAC facilities need significant financial resources to build and maintain. DAC plants are costly, with capture costs ranging from $125 to $335 per tonne of CO2 for large-scale plants built today. This high cost is due to the substantial energy requirements needed to capture the relatively dilute CO2 from the atmosphere.
Additionally, their co-benefits are often limited compared to solutions like biochar. High-tech methods primarily focus on the extraction of carbon dioxide from the atmosphere, with minimal direct benefits to local communities or ecosystems. For example, DAC technology requires large amounts of energy, often derived from renewable sources, which might not be readily available in all regions. This contrasts with biochar, which can be integrated into existing agricultural practices, enhancing soil health, increasing crop yields, and reducing air pollution from crop residue burning.
Money is great but let’s put People and The Planet First
Venture capital (VC) investments in DAC companies highlight a critical challenge in the current landscape: the prioritisation of profit over social impact. VCs typically seek a measurable return on investment (ROI) through exits and acquisitions, which can overshadow the broader goals of environmental and social sustainability. This investment model risks sidelining initiatives that offer significant co-benefits but may not promise quick financial returns.
Most venture capitalists expect to double their investment within 10 years. The National Bureau of Economic Research reports that a 25% return on investment is the average expectation for venture capital investments (UpCounsel). This high expectation drives VCs to favour high-tech solutions like DAC, which promise substantial financial returns due to their potential scalability and technological innovation.
However, the focus on financial ROI often means that projects with substantial social and environmental co-benefits, such as biochar, receive less attention and funding. High-tech CDR methods, while important, do not typically offer the same immediate community benefits as methods like biochar, which can improve soil health, increase agricultural productivity, and reduce pollution.
A study by the World Economic Forum emphasises the need for VCs to embed Environmental, Social, and Governance (ESG) criteria in their investment strategies to support companies that can deliver broader social impacts (World Economic Forum). Despite the growing recognition of the importance of ESG, the primary driver for many VCs remains the financial return, often at the expense of broader sustainability goals.
The urgency of the climate crisis demands near-term scaling of effective carbon removal solutions. The Intergovernmental Panel on Climate Change (IPCC) warns that to avoid surpassing the critical 1.5°C threshold, immediate and substantial actions are required. Nature-based solutions like biochar are ready to be deployed now and can deliver proven results, whereas continued heavy investment in technologies like DAC may introduce more risk due to their high costs and longer development timelines (IEA) (CSIRO).
By shifting investment priorities to include a strong focus on co-benefits and for near-term scaling, venture capital can play a pivotal role in supporting projects that deliver not only financial returns but also significant social and environmental benefits. This balanced approach is essential for achieving long-term sustainability and equity in climate action.
A Call to Action: The Real Benefit of Co-benefits
To truly address the climate crisis, we need a shift in how we evaluate and prioritise carbon removal projects. We must recognize the intrinsic value of co-benefits and prioritize investments in solutions that deliver comprehensive, sustainable impacts. By supporting initiatives like biochar, which put people and the planet first, we can create a more just and effective response to climate change.
The real benefit of any climate action lies in its ability to address multiple challenges simultaneously. As we continue to innovate and develop new technologies, let us not lose sight of the broader picture. Co-benefits are not just a bonus; they are a crucial component of a holistic approach to climate action. Together, we can build a future where the health of our planet and the well-being of its people are at the forefront of our efforts.
Ready to make a difference? Learn more and consider investing in Biochar Life through our Wefunder campaign at Biochar Life on Wefunder. Your investment can help propel this mission forward, creating a sustainable cycle of benefits that reach communities worldwide. Join us in making the world a greener, healthier place for all!
