November 7, 2023
Climate change's urgency has steered global attention towards Carbon Dioxide Removal (CDR) solutions. The world aims to scale CDR efforts to eliminate a staggering 10 gigatons of CO2 annually by 2050 which requires us to grow the durable CDR industry by a factor of 5,000 within 27 years.
The private sector is rising to the challenge, with the voluntary carbon market (VCM) pivoting towards carbon removal credits. In 2022, CDR credits worth $226 million were bought, emphasizing businesses' commitment to align with climate goals. In 2023, we are expecting further growth of 11x. However, achieving true climate relevancy necessitates robust government policies to support a joint public/private sector effort to scaling CDR to climate relevance.
The U.S. and EU, leading the charge, have undertaken contrasting yet effective strategies:
The divergent strategies of the U.S. and EU provide a comprehensive roadmap for private entities. While the EU sets the gold standard for CDR practices, the U.S. offers a dynamic market ready for swift action.
If you are a current or prospective buyer of CDR eager to navigate the evolving landscape of CDR, our report dives deep into these policy developments and their implications for you in particular. Access it now for a holistic understanding and to align your business with the future of climate action.
Join us in this crucial journey towards a sustainable future! 🌍🍃