Hello from Vancouver. I'm here at Carbon Unbound West Coast. (video on LinkedIn and YouTube)

On Thursday, I was watching Julio Friedmann's keynote. I had been really looking forward to what Julio was going to say about this next phase of carbon removal. And he gets up and he says, "Deliveries have stalled". And it just goes right through me.

Look, all of 2025 we've talked about the pullback on investments, purchases, and deliveries. So you could say how is this a surprise to me?

But at the same time, hearing it from Julio got my attention in a new way. He's great at framing big ideas so they just click. Deliveries have stalled. What have I been missing? What have we been missing? What's next?

Deliveries have stalled. Investments have pulled way back. If that continues we'll see more companies shutting down, delivery failures, and more. And part of me wants to say, hey, we're going to turn around, here's 10 ways to turn around. But today, I didn't want to do that. I want to sit with this for a week.

For this week my message is to think about what "deliveries have stalled" means to you. Next week we can talk about what's next but for now no replies needed. I look forward to picking up with you next week.

I'll unpack this more tomorrow (Tuesday) at "What's Hot in Carbon Removal", 9 AM PST. Register here.

Tito