Estimating the future prices and scale of engineered GGRs in voluntary Carbon Markets (VCMs).

Descriptions

The final date and time for the submission of bids is Friday 6th December 2024 at 11:00hrs. DO NOT apply directly to the buyer. All tender information MUST be submitted through the Jaggaer eSourcing Portal. The Department for Energy Security and Net Zero (DESNZ) is seeking to commission expert research and modelling to forecast the prices and quantity of engineered Greenhouse Gas Removals (GGRs) traded in Voluntary Carbon Markets (VCMs) in yearly intervals to 2050, by technology type. The UK will achieve its net zero target by 2050 primarily though taking ambitious decarbonisation measures; however, some sectors, such as aviation and agriculture, will be hard to abate completely by 2050 so will require greenhouse gas removals (GGRs) to compensate for their residual emissions. GGRs is the name given to a group of methods that actively remove greenhouse gases, predominantly CO2, from the atmosphere, also commonly referred to as Carbon Dioxide Removal (CDR). They broadly fall into two categories: nature-based approaches, such as afforestation and soil carbon sequestration, and engineering-based approaches, such as Direct Air Carbon Capture and Storage (DACCS), Bioenergy with Carbon Capture and Storage (BECCS), Wood in Construction, Biochar and Enhanced Weathering (EW). Following the sector classification adopted by the Climate Change Committee (CCC) and in the Net Zero Strategy, DESNZ's focus is on engineered removals and will be the focus of this research project. The Net Zero Strategy outlined the government's ambition to deliver at least 5MtCO2/year of engineered removals by 2030 to around 23MtCO2 per year by 2035. By 2050, deployment of engineered removals at a large scale, between 75 and 81MtCO2 per year, will be needed to help compensate residual emissions. Please ensure you review all attached information to ensure a full understanding of this requirement. All attachments can be found with the Supplier Attachments tab within the Jaggaer eSourcing Portal. This contract will be awarded based on the evaluation criteria as set out in the ITQ document. How to Apply UK Shared Business Services Ltd (UKSBS) will be using the Jaggaer eSourcing Portal for this procurement. To register on the Jaggaer eSourcing portal please use the link https://beisgroup.ukp.app.jaggaer.com/ and follow the instructions to register as a supplier. If you are already registered on the Jaggaer eSourcing Portal and wish to participate in this procurement, please use the link: https://beisgroup.ukp.app.jaggaer.com/. Once you are logged into the system you will be able to locate the Procurement you wish to leave a bid on by clicking the ITTs Open to All Suppliers and searching for the reference number BE24244 and Jaggaer ITT reference number itt_1869.