Why
The sustainability, regulatory and ultimately business rationale for removing carbon from the air
Carbon is a compliance liability.
The technology exists to reduce 90% of our emissions by 2050. The remaining 10% need to be removed from the air, if we want to reach Net Zero.
Most countries have a net zero target, which in turn implies a compliance liability given by your un-avoided CO2 emissions:
Liability = Amount (CO2 emitted) x Cost (CO2 Removal)
it is also a 1 trillion EUR opportunity.
We need to annually remove 6-10 billion tonnes of carbon by 2050 according to the IPCC. At an aspirational cost of 100EUR/t, this creates a 1 trillion EUR market.
So far, businesses have engaged with CDR to build:
A brand with purpose for shareholders and employees
A competitive edge in a future growth market.
“All analysed pathways limiting warming to 1.5°C with no or limited overshoot use CDR [Carbon Dioxide Removal] to some extent to neutralize emissions [...] and also to achieve net negative emissions to return global warming to 1.5°C following a peak (high confidence)”