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 gigatonnes of CO₂ annually by 2050 which requires us to grow the durable CDR industry by a factor of 5,000 within 27 years.

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The private sector is rising to the challenge, with the voluntary carbon market (VCM) pivoting towards carbon removal credits. In 2022, carbon removal 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 scale CDR to climate relevance.

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The U.S. and EU, leading the charge, have undertaken contrasting yet effective strategies:

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• European Union (EU): Prioritizes standardization and certification. For instance, the Carbon Removal Certification Framework (CRCF) ensures consistent monitoring of CDR methods.
• United States (U.S.): Focuses on rapid implementation and funding. The Infrastructure Investment and Jobs Act (IIJA) earmarks billions for carbon management projects, and the Inflation Reduction Act (IRA) promotes tax incentives for CDR.

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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.

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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.

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The Buyer's Guide to Carbon Dioxide Removal (CDR) Policy

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