Carbon Dioxide Removal (CDR) refers to a set of technologies and natural processes aimed at extracting carbon dioxide (CO₂) from the atmosphere and storing it permanently to mitigate the impacts of climate change. While reducing emissions remains crucial, CDR offers a complementary approach to addressing residual emissions and achieving net-zero or net-negative carbon goals.
While reducing emissions remains crucial, the current levels of CO₂ in the atmosphere make removal technologies essential to achieving climate goals from enhancing natural processes to deploying advanced technologies.
The global Carbon Dioxide removal (CDR) market has experienced remarkable growth in the past decade. Valued at $1.5 billion in 2023, it is expected to reach $25 billion by 2029, with a CAGR of 49%. Factors such as increasing climate change concerns, stringent carbon reduction policies, and rapid advancements in CDR technologies are driving this growth.
Direct air capture involves chemical processes to capture CO2 directly from the atmosphere. Companies like Clime Works and Carbon Engineering are advancing DAC technologies with improved efficiency and scalability. The captured CO2 can be stored underground or repurposed for products like synthetic fuels.
BECCS combines bioenergy production with carbon capture. Biomass absorbs CO2 during growth, and when it’s used for energy, the emitted CO2 is captured and stored underground. This process can generate harmful emissions while producing renewable energy.