Reflecting on ‘The Value of Carbon’

To stay within the Paris Agreement’s 1.5 degrees global warming, we need to become globally CO2 neutral and start removing more CO2 on net than we emit. Construction can play a role in this. Specifically with the physical built environment, CO2 can be stored in building materials. This carbon capture can be scientifically determined and monetized.

Does the value of the stored CO2 provide a better business case for sustainable building? How and where must the value of that capture end up to actually work as a catalyst? We discussed it on Nov. 27 during “The Value of Carbon” dialogue. Below are our findings.

Governing is all about anticipation. EU Taxonomy is increasingly steering for CO2 reduction and capture. Moving towards a business model partly driven by Carbon Credits is therefore key to achieving successful projects in the near future. The data are already there in broad terms. The value of carbon capture is rising, but at the same time the market is still in its early stages.

Sacha Brons, of Climate Cleanup argues that the value should mainly benefit the farmer. “Farmers in particular need the financial support now to make the transition to producing construction fibers.”
Nina van der Giessen of Rabobank emphasizes this. “Farmers are not intrinsically driven to grow sustainable fiber, they are focused on production per hectare. So we have to incentivize them to make the switch.”
Onno Dwars of Ballast Nedam Development emphasizes that demand will not be the issue. “Among developers and, especially, their investors, the demand for carbon capture is there already. In a few years, it will appear to have been of the same importance as the energy transition was some time ago.”

Carbon Credits can fuel a new sector that has the potential to turn the different and often conflicting interests of farmer, builder, rural resident and urbanite into shared interests. ‘This is where houses grow!’ A hopeful perspective in these times of opposition and polarization.

The next edition on Thursday, February 27, will focus on the EU Taxonomy. Subscribe to our newsletter and follow the program via our Carbon Stories page.

Carbon Stories is an initiative of the Keilecollectief, IABR and GROUP A architects’ think tank Carbonlab.

Photos by Jacqueline Fuijkschot