Buying carbon dioxide removals now is critical to grow the industry to the capacity needed for it to help achieve the 2050 global net zero target. CDR.fyi – the initiative aiming to support the adoption of durable carbon removals, has released a new CDR.fyi Purchase Calculator helping companies determine how much CDR they could buy each year.
The calculator looks at how much carbon removals are “needed” globally every year, given certain SBTi-aligned CDR scaling scenarios, and then translates that into corporate responsibility. The numbers provided by the guide can be used as a starting point and seen as a minimum.
The first step in working with the CDR.fyi Purchase Calculator is to input the organization’s CO2 emissions. The tool automatically calculates an estimate of the required emissions reductions and populates a table with annual quantities of CDR that could be purchased to align with the global CDR scaling scenarios used by the tool – a 4Gt CDR scenario and a 2.5Gt CDR scenario.
Companies with a high profit per ton of CO2 emitted as illustrated in the Carbon Gap’s Who Can Pay for Carbon Removal analysis, are advised to consider higher amounts or several times the calculated quantity.
The calculator was developed by Cole Caswell and reviewed by CDR.fyi co-founder Robert Höglund and numerous external experts. CDR.fyi also encourages other experts to reach out who are developing tools that help accelerate the durable CDR industry.