What is a Novoton?
We must remember that time is not on our side. We must resort to technology-based solutions which are faster. But they are costly, and currently not economically viable for many companies in the world. Nature-based solutions are slow but economical. It is a deadlock.
We have found a midway. We have created something called a Novoton.
A Novoton is a tonne of Carbon Dioxide removed, partly via technological and partly via nature-based solutions with the proportions of each of the solutions so included as to arrive at an optimum cost.
The cost of a Novoton stands mid-way between a purely technological solution and a purely nature-based solution and the retirement time of a Novoton also stands midway between a purely technological solution and a purely nature-based solution - it is faster than a nature-based solution but not as fast as a technological solution.
The money you spent to buy Novotons will be distributed optimally between nature and technology-based solutions.
Nature Based Removal
Technology Based Removals
Novotons that have higher technology component retire early and Novotons that have higher natural component take longer time to retire. In other words, if you feel nature based solution is slow, with Novotons you have the option to add technology components to it and speed it up.
Thus, if you are buying a Novoton, you are simultaneously spending optimally on both Technology and Nature-based climate solutions. You do not have to separately spend on Technology & Nature-based solution. A Novoton is most optimally designed.