Carbonfuture’s Post

Happy to share the publication of “Carbon Dioxide Removal (#CDR): Europe’s Path to a Trillion-Euro Industry” which Boston Consulting Group (BCG) and the Deutscher Verband für negative Emissionen e.V. (DVNE) in collaboration with its members released today. Carbon Dioxide Removal are already acknowledged playing an integral role in the path to net zero. But this study points out the economic potential of CDR for Europe and especially Germany.   📈 The European (German) CDR industry could grow to €220B (€70B) per year by 2050, creating up to 670K (190K) jobs.   🌍 Europe, and especially Germany can be catalysts for a thriving CDR industry, since they are uniquely positioned to lead the global CDR market due to their technological progress, robust industrial base, and progressive climate policies.   💡 Concerted efforts from policymakers, industry, buyers and investors are required.   Let’s embrace the transition and be part of a sustainable and economic future.   Enjoy the read: https://lnkd.in/dnb6g9mb  #CarbonDioxideRemovals #BECCS #NetZero Stefan Schlosser Dr. Patrick Herhold Dr. Johanna Puetz Robin Bierganz Phillip Spiekermann Johannes Schwegler Magnus Drewelies Caroline Braun Constanze Adolf, Phd Nikolaus Wohlgemuth Gabor Maifeld Tony Oehm Marcel Rensmann Sebastian Hanss-Mirodone Nicole Herold

💡 Developing a Trillion-Euro Carbon Dioxide Removal (#CDR) Industry: What Will It Take? 🎯 Creating a trillion-Euro CDR industry requires bold action from policymakers, industry leaders, certificate buyers, and investors. Overcoming obstacles is key to market growth and value creation. With a unified effort, we can turn challenges into opportunities, leading to major job growth and economic potential by 2050. Key actions for stakeholders: 1️⃣ Policymakers: Make a strategic commitment to CDR by funding technology research, supporting project deployment, and setting specific removal targets. 2️⃣ CDR Industry: Enhance sequestration potential and capacity, reduce unit costs, and activate early movers. 3️⃣ Buyers: Commit to long-term offtakes of high-quality removal in corporate offset portfolios and gradually shift away from avoidance credits. 4️⃣ Investors: Act as orchestrators between policymakers, insurers, and CDR developers to ensure a cohesive approach. ➡️ Discover more in the latest report from Boston Consulting Group (BCG) and Deutscher Verband für negative Emissionen e.V. (DVNE) : https://lnkd.in/evSJ3yRX #CarbonDioxideRemoval #CarbonRemovals #NetZero #Sustainability #ClimateAction #BECCS

Carbon Dioxide Removal (CDR) as a fundamental building block to save our planet and create 190,000 jobs 🌏📈 Germany and Europe pave the way in #CDR, with the market expected to reach €110-220 billion by 2050 💶 This tremendous opportunity highlights that climate change mitigation can go hand in hand with economic growth if done right. To keep the goal of 1.5°C or 2°C within reach, CDR capacity must scale up to 9 gigatons of CO2 annually by 2050 🌡️📊 With their excellence in plant and mechanical engineering, software development, and financial services, Germany and other European countries are poised to drive this sector. By harnessing their technological leadership, Germany and Europe 💡can drive innovation, 👷♂️👩💼create jobs, 📈and significantly boost GDP, establishing themselves as global leaders in the CDR industry 🌐 Discover more insights and detailed projections by reading our full report developed in collaboration with Boston Consulting Group (BCG) & Deutscher Verband für negative Emissionen e.V. (DVNE): https://lnkd.in/eivmGWKh 📄 #CarbonDioxideRemoval #NetZero #Sustainability

We're thrilled to join the "Defining Appropriate Scales for Research and Deployment" panel discussion with Tremaine Bowman at the Advancing Ocean CDR Summit tomorrow. We look forward to addressing these critical topics and emphasizing the importance of thorough research in Carbon Dioxide Removal (CDR) approaches. It is essential that all CDR approaches ensure that decisions and investments are based on the technical merits of projects, rather than superficial financial analyses. This approach helps prevent potential pitfalls such as company failures and ineffective solutions. #carbondioxideremoval #bluecarbon #research #deployment #oceans #climatesolutions #earthsciences #ecosystemrestoration

We need more diversified investment in CDR. ➕ More financiers. ➕ More suppliers. ➕ And absolutely more buyers. We are entering a new phase of in the development of the CDR ecosystem where some companies will unfortunately shut down their operations, for various reasons (financing, technology efficacy, scaling challenges, etc). ⛔️ This does not mean carbon removal is a hopeless pursuit and this is not proof that CDR is a failed pursuit. It's the opposite: it means we need more participants to build the market.🌟 As the IPCC's AR6 Synthesis report clearly states: "Achieving global net zero CO2 emissions, with remaining anthropogenic CO2 emissions balanced by durably stored CO2 from anthropogenic removal, is a requirement to stabilise CO2-induced global surface temperature increase (see 3.3.3) (high confidence)." (pg. 51) Let's go! 🧹 -- #CDR #CarbonRemoval #ClimateSolutions #ClimateTech #ClimateTechCanada #IPCC

📣 🇪🇺 Eion supports tech-openness in the CRCF 🇪🇺 📣 European negotiators are meeting for the next #Trilogue of the Carbon Removal Certification Framework (#CRCF), potentially the most important piece of carbon dioxide removal legislation in the world right now. Only an approach open to all CDR technologies will enable Europe to achieve its net zero target. At present, there are positions held by numerous negotiators that would de facto exclude a large amount of promising CDR approaches, including enhanced rock weathering. We need to make our voices heard. An astounding 350 companies—including ours—have signed a public letter calling for tech-openness in the CRCF, including the specific changes we need. The signatories span the entire CDR industry, from startups to large multinationals. Help us spread the word and make sure that negotiators are crystal clear on the position of the CDR industry. Action now can have an outsized impact! Read the full public letter here: https://lnkd.in/gTFn2zdA #CDR #netzero #carbonremoval #co2removal #enhancedrockweathering #ERW #climatetech

A recent report published by the Boston Consulting Group (BCG) zoomed into demand drivers, one of the carbon dioxide removal (CDR) market bottlenecks. ➤ Across scenarios, CDR seems unavoidable in reaching net zero. By 2050, 6 to 10 gigatons (Gt) per annum of durable CDR will be necessary to counterbalance residual emissions, projected to remain between 2 to 8 Gt globally. ➤ Policymaking is one of the most significant leverages to drive up demand. Expanding carbon pricing mechanisms, regulatory requirements in aviation, shipping, and power sectors, and government procurement could drive 0.5 to 2.5 Gt per annum of durable CDR demand by 2050. ➤ Projected residual emissions and CDR generation look asymmetrical. Europe and North America will likely lead in CDR adoption, while Asia Pacific (APAC) will likely be less systematic about adoption despite concentrating the majority of projected residual emissions. It is a great read and a reminder that the why of CDR is almost unequivocal, but the how and where remain to be seen and are in the hands of policymakers, corporations, and carbon project developers worldwide. Cc Amy Sims, Thomas Baker, Paulina Ponce de Leon Barido, Alex Dewar, Habib Azarabadi. #carbonremoval #CDR #netzero

💥 Hundreds of billions to a trillion tons of CDR by 2100 is necessary to achieve the goals set out in the Paris agreement. 🔀 Far more CDR will be needed for future generations to have a chance to reverse temperature increases that are already pushing many human and natural populations and systems to the limits of their viability. 🙋🏻♀️ I'm wildly excited about marin-based pathways for #carbonremoval #CDR but am in no position to evaluate their effectiveness myself. That's why I was so happy to stumble upon Ocean Visions and their research effort to assess ('prove or disprove') these options by 2030. 🌊 👇🏻 Why are marine removals relevant? 🌊 Marine-based pathways for CDR offer significant potential advantages, given the scale of the ocean and the existing biological and chemical processes it already contains that cycle carbon over long periods of time. 🌊 The last three years have seen increased awareness, interest, and engagement with carbon dioxide removal (CDR) broadly and especially with marine carbon dioxide removal (mCDR, sometimes also called ocean-based carbon dioxide removal). But, we don't know much about large scale impact: 🌊 We know a lot more today about their impact, particularly learning from small-scale testing and development. 🌊 Now we need to ramp up the scale and pace of research, development, and demonstration (RD&D) to answer fundamental questions about both the additionality and durability of carbon sequestered using mCDR approaches, and their environmental and social impacts. Ocean Visions lays out three pillars of needed investment and work: 1. Doing the science and engineering at the appropriate scales to answer important outstanding questions about mCDR technologies. 2. Development of enabling environments that allow for accelerated research and development. 3. Improvement and optimization of mCDR technologies to increase their potential to achieve climate-relevant scale and impact. Climate Collective and our wider network can certainly help with #2 and #3. How can you help, and what are your thoughts about marine carbon dioxide removal #mCDR? Miranda Boettcher Lydi Keppler Thomas Cutt Lilli Kalani Carlsen Marty Odlin David Bennell Douglas Heske Hugo Tagholm James Close Heath Packard Ashleigh Arton Matthew Mulrennan Marta Krupinska Juan David Mira Brad Rochlin Stacy Kauk, P.Eng. Andrew Hume Tim Agnew Eva Greene Connor Horton Jill Hamilton #oceanconservation #bluecarbon #blueeconomy

What is CDR for? This is the fundamental question that faces the growing CDR community. There are a lot of different perspectives, trade-offs, and implications embedded in how we even discuss this topic. Consider the example of monitoring, reporting, and verification (MRV). If MRV is the accounting that enables accountability... who are we holding accountable, and what are we holding them accountable for? Sasha and I are going to explore this topic -- with an emphasis on CDR and industrial decarbonization -- on the next episode of Scrubbing the Skies, building off of our recent blog post. We'll summarize our early thinking, share some of the reactions we've gotten so far, and discuss next steps for translating ideation into action. Register here: https://lnkd.in/e2RfVsgV Read the blog here: https://lnkd.in/ezRXA3Qh