About the SINTEF Climate Fund
The SINTEF Global Climate Fund will fund research into high-potential technologies and solutions that will result in the net removal of greenhouse gases from the atmosphere.
The Climate Fund offers a research-based donation mechanism or early phase offset scheme for businesses and organizations that want to contribute to the development of the necessary solutions for coming generations. These solutions are still in the research phase – not sufficiently mature for investments by commercial funds and users.
Cuts are not enough
Even large reductions in greenhouse gas emissions are not enough to reach the goal of limiting global warming to one and a half degrees. There is no clear ownership of historical emissions, nor are there any international or UN agreement on offset markets, and research to find solutions is limited. The SINTEF Global Climate Fund is an attempt to address this and contribute to an infant market for maturing net zero solutions.
Large international players, including Microsoft, are now helping to create a burgeoning market for the technologies needed. The company earmarked significant means for the purchase of solutions that can “take back” greenhouse gas emissions it has emitted over the years.
A lack of research funding
There is a lack of funds for research that can further develop and commercialize the many conceivable, unrealized technologies. CO2 removal is essential – yet underfocused. The world needs major scale and new solutions – thinking beyond what is currently state of the art – to successfully mobilise for 2050.
SINTEF is currently investing 21 million NOK (7 million annually) to the Climate Fund, as a proxy compensation for our own greenhouse gas emissions.
The Climate Fund promotes research into solutions that directly or indirectly remove greenhouse gases from the atmosphere, while protecting environmental and social standards, in alignment with the UN Sustainable Development Goals and the EU taxonomy. The research projects that are currently financed by the Climate Fund have a strong climate potential.
SINTEF Global Climate Fund will provide funding for peer-reviewed SINTEF research advancing the technology required for greenhouse gas removal. We will ensure transparency and quality via an external review and our research community. The fund’s mechanism is being verified by CICERO Shades of Green in their typology of green investments.
The SINTEF Global Climate Fund is an initiative launched by SINTEF Sustainability Accelerator Fund AS. This is a private limited company under establishment fully owned by the Norwegian foundation SINTEF.
The SINTEF Sustainability Accelerator Fund AS Board of Directors, at the time of establishment, is:
- Alexandra Bech Gjørv, President and CEO, SINTEF
- Idar Kreutzer, CEO, Finans Norge
- Nils Anders Røkke, Executive Vice President Sustainability, SINTEF
- Ingrid Lundestad, Head of Strategic Analysis, SINTEF