Carbon Dioxide Removal (CDR) is the process of capturing CO2 or other greenhouse gases from the atmosphere and locking it up in carbon sinks. This reduces the concentration of CO2 or other greenhouse gases in the atmosphere. Various solutions and technologies are already being used on a larger scale, while others are still at an earlier stage of development. The technologies differ from each other, sometimes considerably, in terms of their costs and potentials, but also in terms of their secondary impacts on ecosystems. It is likely that a mix of technologies will prevail depending on the respective availability and socio-economic structures on the ground.
In order to meet global climate goals, avoidance and reduction of emissions has priority. Nevertheless, according to the scenarios of the Intergovernmental Panel on Climate Change (IPCC), the use of CDR solutions must be scaled up drastically in order to achieve the 1.5°C but also the 2°C target.
The private sector plays an important role here, provided that corporate climate targets envision the use of carbon removal solutions. Companies can use CDR certificates, for example, to neutralise emissions from their products, services or supply chain. If companies follow high quality climate standards (e.g. the Science Based Target Initiative – SBTi), they have even committed to do so. At the same time, the flow of capital into the carbon removal sector contributes to large-scale cost reductions that make large-scale deployment to achieve global climate goals possible in the first place.
The integrity of the CDR projects and embedding them into a corporate climate strategy is imperative for the successful engagement of companies. This is the only way to ensure a sustainable contribution to meeting your own climate targets.
The selection of CDR projects that fit the climate strategy is a complex task in view of the technological diversity and the qualitative differences. We are happy to support you with our expertise.