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Anu Khan is pushing carbon credits to better serve the public good.

There’s a new player in carbon removal. It’s not another startup building machines to suck carbon from the air. And it’s not another trade association or consulting firm or marketplace peddling carbon removal credits. Instead, it wants to help establish a different system for advancing carbon removal — one where the challenging but important goal of scrubbing CO2 from the atmosphere is treated as a public good and not just a business opportunity.
It’s called the Carbon Removal Standards Initiative, and it’s run by Anu Khan, the former deputy director of science and innovation at Carbon180. CRSI (pronounced like the Lannister queen in Game of Thrones, “Cersei”) is a “financially unconflicted, independent nonprofit,” that will provide technical assistance to policymakers, regulators, and nongovernmental organizations in quantifying carbon removal outcomes.
A group providing technical assistance may not sound like a revolutionary development. But Khan hopes CRSI will be a fulcrum around which the entire industry can begin to pivot.
Today’s carbon removal industry is built on selling credits, each of which is supposed to represent one ton of CO2 pulled out of the atmosphere. But the market is almost entirely self-regulated. The standards for measuring and reporting how much carbon a given project is removing have either been developed by the carbon credit registries that take a cut of the sales or by the developers themselves — in both cases a conflict of interest, even if governed by the best of intentions. Plus, there’s a multitude of standards for every type of project, and they vary in quality.
Take carbon farming, for example. If a farmer alters their practices to increase the carbon stored in their soil, they can choose from more than a dozen standards to quantify the effects. In theory, the standards all produce an identical product — a fungible carbon credit equivalent to one ton of carbon removed from the atmosphere. In reality, they vary widely in quality, with some standards producing more accurate results than others.
In watching this environment develop over the past several years, I’ve often wondered if some independent, unbiased entity might eventually step forward to enact one set of standards to rule them all. Khan told me that about a year and a half ago, she had the same thought. “Oh, to be so young,” she said.
At the time, there was growing concern that the carbon removal industry would suffer from the same credibility issues that plagued the wider market for carbon credits. “You have a multiplicity of these verification entities driven by profit motives, some of which have very loose standards,” Wil Burns, the co-executive director of the Institute for Carbon Removal Law and Policy at American University, told me. “From the standpoint of those purchasing credits or those viewing whether companies are doing anything meaningful, nobody can really distinguish.”
In early 2023, dozens of carbon removal suppliers, buyers, verifiers, academics, and nonprofit staff — including Khan — signed an open letter that now reads like an early draft of CRSI’s missions statement. It called for the creation of “an independent, not-for-profit initiative that conscientiously avoids conflicts of interest and has funding that does not depend on issuing or selling carbon credits.” This new body would “provide a trusted, scientific stamp of approval for CDR protocols through an inclusive process to identify scientific consensus.”
The letter focused on the issues with measuring carbon removal in the context of the voluntary sale of carbon credits. But over the next year, it became clear to Khan that carbon removal won’t reach the scale necessary to make a dent in climate change without government policy. “Even the market enthusiasts recognize that we’re going to need policy as quickly as possible to shore this up,” she said, “and it’s going to be policy, long term, that gets us to gigaton scale.”
So instead of providing “a trusted, scientific stamp of approval” to private businesses, CRSI is laser focused on working with policymakers. It’s not entirely clear yet what that will look like, and it’s likely to evolve as CRSI finds its footing. But the group is launching with a few projects that are already underway. It has created a database of “quantification resources,” which is basically a list of all of the methodologies published by companies, academics, government agencies, and international standards organizations, for measuring different kinds of carbon removal. It also has a database of carbon removal policies, both those enacted and proposed. Eventually, Khan plans to have them link out to each other, so you can see which standards underpin which policies.
Khan wants CRSI to be a go-to resource for policymakers and agency staff to ensure that carbon removal programs actually result in climate benefits. “We are fundamentally a mission organization,” she told me. “We believe that carbon removal is a tool for climate justice. Justice requires accountability, and in carbon removal, that means knowing how to count the carbon. We want to make sure that if we're putting public dollars into these policies, that they are backed by the ability to actually measure the carbon.”
Khan isn’t the only one whose thinking on standards has shifted toward a government-led approach. Burns, who also signed the letter, told me he’s seeing more carbon removal companies pushing for a compliance market, where the government requires polluting businesses to buy carbon removal. “They would like to both have government standards that would provide more confidence, for example, to investors,” he said, “and they would like government mandates that generate more demand.”
Freya Chay is the program lead at the nonprofit Carbon Plan, which spearheaded the letter. She told me many in the industry are now thinking about carbon removal programs that don’t revolve around selling credits at all, and therefore may have very different measurement and verification needs.
One of CRSI’s first projects is an illustrative example. Imagine if the Department of Agriculture developed a program to help farmers restore the pH of soils that have gotten too acidic, by adding basalt — a mineral that also happens to capture CO2 from the atmosphere as it dissolves. Today, carbon removal companies that sell carbon credits based on this process are taking hundreds of soil samples to measure the outcomes. The USDA likely wouldn’t need that level of precision — the captured CO2 is a co-benefit, not the entire point of the program — but “at some point you probably do want to know if you removed carbon through this policy,” said Khan. CRSI is working on figuring out how you would do that.
Similarly, we might see the development of building codes that encourage the use of concrete cured with CO2 from the atmosphere, or waste management regulations that govern the injection of carbon-rich organic waste into underground storage wells. Bigger picture, the U.S. will eventually have to measure and report how much carbon removal it’s doing across all of these little programs as part of its obligation under the Paris Agreement.
In many of these cases, those setting the rules won’t be experts in carbon removal science. “They’re going to need technical expertise,” said Khan. “We want to make sure that when they are doing that work, they have access to all of the relevant information, and that it’s organized in a way that’s legible for the expertise that they already have.”
Shuchi Talati, the former chief of staff in the office of fossil energy and carbon management at the Department of Energy, told me that having this kind of centralized resource would definitely have been useful. “The private sector has a lot of power right now in setting standards because the public sector doesn’t have the capacity,” she said. And since the field is so diverse, efforts are spread across a bunch of different agencies that don’t always talk to each other. Talati sits on the board of CRSI, and for her, the focus on government is not just about helping carbon removal scale.
“If we’re allowing the private sector to set standards and norms — and maybe they’re fine right now — but if we continue to let that happen, I can see the actual climate benefit of CDR slipping away,” Talati said. “That’s really where I see Anu’s organization fit in, where we are trying to set standards and norms from this core, foundational principle of a public good.”
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Ford reveals a promising tidbit about its upcoming electric pickup.
When the Ford Fathom debuts in 2027, much of the attention will focus on its size and its price. As it should: The all-electric mid-size truck is promised to start under $30,000, and the success or failure of that car at that price will tell us a lot about the future of Ford, as well as mainstream America’s true appetite for EVs.
While we wait for our first real look at the truck and the full list of its specifications, Ford just revealed a promising tidbit. The automaker has been working in the background to make it simpler and cheaper for Fathom drivers to use bidirectional charging: the ability for power to flow both ways so that EV drivers can use the energy stored in the vehicle battery to power secondary loads, to back up a home power supply during a blackout, or even to feed back onto the power grid.
Specifically, Ford announced on Tuesday that the Fathom will be the first EV from a U.S. automaker with a starting price below $30,000 that does not need a separate wall-mounted inverter — the piece needed to transform the DC power stored in the car’s battery to the AC power used in the house. Instead, engineers built one into the truck’s “e-box” module that houses much of its electronics. That on-board unit is good enough to supply more than 10 kW of AC power to a home, Ford says.
Bidirectional charging isn’t new to American EVs or to Ford. The F-150 Lightning EV got this feature when it debuted five years ago. The trouble is that this game-changing technology doesn’t come cheap: The Lightning — now discontinued, soon to be revived as an extended-range EV — was an expensive ride starting above $50,000. The electrical hardware needed to connect the truck to one’s home power supply added thousands of dollars on top of the truck’s price.
The same was true for other EV makers. Two years ago, when I interviewed EV pickup drivers after Hurricane Helene hit North Carolina, I found F-150 Lightning and Tesla Cybertruck owners alike who hadn’t forked over more money for the extra tech needed to hook directly into the home. They got themselves through the blackout the Macgyver way, plugging the refrigerator and other critical appliances right into the power outlets in the back of the truck.
Ford’s Fathom, though, comes closer to giving the best of bidirectional charging to the masses. In addition to installing an on-board inverter, Ford says it will make the Ford Home Power Station and Home Backup Panel — the hardware that drivers will need to connect to the house — cost at least 60% less than the brand’s first-generation tech. The Detroit giant also says it’s working with a consortium of utilities, including American Electric Power, BC Hydro, Consumers Energy, Exelon, and Pacific Gas and Electric Co., to iron out how Fathom owners across the country will connect to their homes and the grid.
As Ford notes in its release: “There are more than 3,000 utilities across the U.S. and Canada with largely unique interconnection processes. Interconnection processes were primarily written for rooftop solar and stationary battery storage, which are fixed assets. Bidirectional EVs bring new considerations since they are vehicles first, not stationary equipment.”
Indeed, cooperation between car companies and utilities is suddenly a pressing matter as more EVs hit the roads, and the grid. Rivian and other electric car makers are trying to make their vehicles play nice with the power grid as a way for their customers to save money and reduce grid strain by having EVs charge when demand is low and electricity is cheap. And at some point, electric cars will become a major cog in virtual power plants — the ability of the power grid to pull energy from sources like EVs, backup batteries, and homeowner solar in times of need.
That day is finally approaching. Although bidirectional charging is a striking bonus feature for EVs, something so much more interesting and sophisticated than what a fossil fuel car can accomplish, the tech has flown fairly under the radar in the U.S. One could blame not only the lagging pace of EV adoption here, but also the fact that Tesla, far and away the market leader, has been slow to get on board. Just this month, it finally said that Model Y and Model 3 vehicles, the two best-selling electric cars in America, would get bidirectional capability.
The Ford Fathom, then, may do more than revitalize the lagging fortunes of Ford, which lost billions upon billions in its first forays into electrification and started up a skunkworks team to design the new truck in a totally different way. Their creation might also show Americans the EV’s enormous role in the home, and the grid, of tomorrow.
Current conditions: Tropical Storm Olana is headed for Hawaii with yet more flooding and powerful winds as the state continues to recover from previous storms • Tropical Cyclone Arnab is strengthening into a “severe” storm as it approaches the northern coast of India’s Andhra Pradesh state near the port city of Visakhapatnam • In-fa has become a typhoon, en route by the end of this week to the Northern Mariana Islands, the U.S. territory that took the brunt of this month’s Super Typhoon Champi.
Call it Anthropic’s magnum Opus 5.5. The Claude maker filed its public paperwork Monday ahead of its planned stock market debut. Aside from the basic details of how the company makes money and what risks its technology may pose to humanity itself, Anthropic mentions the word “energy” at least 14 times in the section of the document outlining the risks to its business. “Climate” and “climate change” are mentioned just four times. The overarching concern, per my colleague Matthew Zeitlin’s rundown of the S-1 filing, is that the company “might not get enough power for data centers running its large language models,” and that “the pace of the energy infrastructure build-out “is generally behind the need.
Brazil’s national oil company, meanwhile, had a brutal day of trading on the stock market following left-wing Brazilian President Luiz Inácio Lula da Silva’s surprise surge to reelection in Sunday’s runoff. Shares of Petrobras plunged 14% on the New York Stock Exchange by the time trading ended Monday evening. While conservative candidate Flávio Bolsonaro had promised more privatization and fewer environmental regulations, Lula has ramped up drilling, particularly offshore, as he seeks to capitalize on South America’s oil boom.

EQT Corporation bills itself as “America’s only large-scale, vertically integrated natural gas producer.” Soon it will also be the largest gas company in the nation. On Monday, the company announced plans to acquire Range Resources Corporation in a deal to create a North American gas giant worth more than $50 billion. The all-stock transaction would also establish the biggest gas producer in the U.S. by output. Combined, EQT and Range pump out 9 billion cubic feet of natural gas equivalent per day. The next largest shale gas producer in the U.S. is Expand Energy, at 7.5 billion cubic feet per day. The merged company would also command a network of pipelines and other midstream infrastructure that tops 3,700 miles. “This transaction brings together two of the highest-quality, longest-duration asset bases in North America and creates a company uniquely positioned for the next era of natural gas,” EQT CEO Toby Z. Rice said in a statement. “We believe this combination creates a must-own energy company capable of generating durable, through-cycle free cash flow while compounding value for shareholders for decades to come.”
The deal is a sign “U.S. gas consolidation is accelerating,” Salih Yilmaz, a senior oil analyst at the consultancy Bloomberg Intelligence, wrote in a post on X. “The bigger theme is consolidation: scale, concentration, and infrastructure control are becoming increasingly important in US gas, especially as LNG exports and power demand grow.”
U.S. orders for wind turbines vaulted to 2.8 gigawatts in the second quarter of this year — the highest since the end of 2023 — as developers scrambled to meet the deadlines to qualify for expiring tax credits, according to a new market analysis by the consultancy Wood Mackenzie. New Mexico saw the biggest surge as the SunZia megaproject, the largest wind farm ever built in the U.S., came online, raising the state to the top of the list of capacity additions. Despite the Trump administration’s efforts to kill or slow walk permits for wind projects, the industry is on track to add 39 gigawatts of new onshore wind farms by 2030. More than half the projects set to come online over the next two years are already under construction, meaning there’s little risk of disruption. Offshore wind, by contrast, tops out at 5 gigawatts, all of which is on course to be delivered in the next two years. “Policy is the variable with the greatest impact on wind installations,” Wood Mackenzie analyst Tyler Gifford said in a statement. “With tax credit expirations on the horizon, developers are prioritizing projects that can be operational by 2030, so the five-year onshore wind installation outlook remains stable.”
On the other side of the Atlantic, exports of wind turbines are booming. While Europe is still debating how to deal with the sudden rise of China’s wind companies, as I told you last week, the European Union's exports of wind turbines spiked by nearly 11% to $3.4 billion last year, Renewables Now reported.
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The climate movement, as virtually anyone involved will tell you, is broken. Even those who are part of it want to stop talking about “climate change,” according to the results of this year’s Heatmap Insiders Survey. Clean Air Task Force, one of the more pragmatic groups in the policy arena fighting for clean energy, is out with a new memo detailing the strategy it plans to use through the end of the decade. Dubbed CATF Forward, the plan is “designed to drive the global adoption of climate solutions, orienting around three clear impact priorities and rooted in the attributes that have made” the group “uniquely effective” since its launch 30 years ago. “The world’s increasingly complex climate and energy challenges require sober thinking and sharper focus,” Armond Cohen, CATF’s founder and executive director, said in a statement. “How do we protect climate in a world turned upside down?”
His answer:
All of that seems fairly straightforward. But the document is defined as much by what it omits as what it includes. Amid a growing debate over whether climate activists should keep targeting fossil fuel infrastructure, which my colleague Robinson Meyer aired out nicely on a recent episode of our podcast Shift Key, CATF isn’t pushing for boycotts of fossil fuels or, you know, committing crimes in the name of saving the planet.
India’s solar factories have boomed in recent years as the world’s most populous country turns to photovoltaics to meet surging domestic electricity demand and supply overseas buyers looking for alternatives to China. But the subcontinent has struggled to take on China’s dominance of the solar supply chain’s upstream elements. On Monday, Noida-based Jakson Solar announced plans to invest over $525 million into manufacturing solar cells, ingots, and wafers. The company plans to commission a 3-gigawatt cell factory by the end of next year, managing director Ivan Saha told Reuters on the sideline of a conference. The company then plans to stand up a 3-gigawatt ingot and wafer plant by the third quarter of 2028. That will all feed into Jakson’s existing 1.2-gigawatt module-making factory.
Indonesia and Malaysia have launched more than 100 cloud-seeding missions this year in an attempt to engineer rain to quench parched lands as El Niño worsens droughts. The worst wildfire season in decades has shrouded the region in devastating toxic smog. But the high cost of the effort, including using dry ice to break up warm air that traps smog on the ground, “have so far brought little in the way of lasting results,” Bloomberg reported. “Sometimes, there’s a lot of political pressure to do things that may not be really well-founded scientifically,” Steven Siems, a professor at Monash University in Melbourne and the co-chair of an expert team on weather modification at the World Meteorological Organization, told the newswire.
It’s amazing what you can do with a repurposed car engine.
Venture capitalists love a system that fits inside a shipping container. But that kind of modularity has been hard to pull off in the low-carbon fuels industry, where producers have generally remained yoked to the prevailing wisdom of economies of scale as the key to profitability. That’s led to enormous, capital-intensive facilities packed with complex, custom-built machinery churning out fuels and chemicals like hydrogen, methane, and ammonia.
But Massachusetts-based startup Emvolon thinks it can upend this model with its compact, prefabricated chemical plants powered by the likes of repurposed car engines. Its modular systems convert methane captured from landfills and other sources into energy-dense liquid methanol on-site, making it easier to transport to customers. On Tuesday, the company announced $22 million in new funding — an undisclosed mix of Series A equity and non-dilutive federal and state grants — to build its first commercial-scale system at a landfill near Houston, in partnership with biogas company Montauk Renewables.
The approach aims to solve a persistent logistics problem. Economics dictate that commodity producers typically locate near a high-volume source of feedstock or a pipeline that can deliver it. But for captured methane — a potential feedstock for lower-carbon fuels, chemicals, and fertilizers — that’s often not an option. The potent greenhouse gas escapes from geographically dispersed landfills, farms, and wastewater treatment plants, many of which are too small to support a large gas-to-liquids facility and too far from existing pipelines. Trucking the gas to a centralized plant is generally prohibitively expensive, often leaving operators to either flare it or let it escape unabated.
“We are really kind of burning money, creating a lot of emissions when we could be capturing this and making high-value products,” Emmanuel Kasseris, Emvolon’s CEO, told me in an August conversation about the company’s technology, which it spun out of MIT.
“We really try to flip the script completely,” Kasseris said of the startup’s modular approach. Rather than one large facility, the company aims to produce “a few tons to maybe tens of tons per day” of methanol for the $40 billion global market. For comparison, conventional gas-to-liquid facilities can produce hundreds of times more product daily.
Emvolon’s technology is “engine agnostic,” running on repurposed engines from used cars and diesel generators as well as new builds modified for the startup’s purposes. The engines take in captured methane from landfills, farms, or gas-flaring sites. But instead of burning the fuel completely like a standard combustion engine, Emvolon limits the oxygen supply, triggering only partial combustion of the methane to produce a mixture of hydrogen and carbon monoxide known as syngas. The company then feeds that mixture into a conventional reactor, where a catalyst converts it into liquid methanol that can be shipped in standard tanker trucks.
The process requires relatively few modifications to standard internal combustion engines, Kasseris told me, thereby bringing the economics of mass production to small-scale chemical production. “You’re taking something that comes from an assembly line, you repurpose it — changing sensors, controls, simple things that require a lot of [intellectual property] but are not expensive — and you build the plant around it,” he explained. The goal is to offer customers a four-year payback period sans low-carbon fuel subsidies.
Emvolon is now attempting to push that logic a step further. For the second stage of the conversion process, the company is working to swap out its conventional reactor with another modified engine in order to “replace even more one-off process equipment” with mass-produced components. The Department of Energy’s Advanced Research Projects Agency–Energy awarded Emvolon a $2.3 million grant to develop this part of its system.
But the startup doesn’t need to have this additional piece of technology dialed in to start securing customers. In August, global commodities merchant Freepoint Commodities signed on as the startup’s primary buyer, securing priority rights to purchase at least $450 million worth of Emvolon’s biomethanol for use across maritime shipping, aviation, heavy transport, and specialty chemicals. The agreement also gives Freepoint priority rights to invest in or lend to future Emvolon projects, a provision Kasseris described as the anchor for the startup’s project financing platform.
The company’s first commercial projects are designed to produce up to 50,000 metric tons of biomethanol annually across multiple sites, with the Freepoint agreement structured to scale that output to 300,000 metric tons per year. Because each plant should cost only “a few million dollars,” Kasseris said, the company can spread out its risk rather than bet on “the half a billion dollar e-fuels plant” common to the alternative fuels industry. If one plant runs into trouble, the setback should be manageable, and the company can keep churning out and deploying its modular units elsewhere.
“This is great for scaling,” Kasseris told me. “It’s just very different. It’s just more boxes.”