Releases Carbon Removal Buyers And Suppliers Surveys’ Results Releases Its 2023 Year In Review Highlighting Major Trends In Carbon Removal - Carbon Herald

Back in November 2023, – the community driven effort aiming to bring transparency and accountability to the carbon dioxide removal (CDR) market, conducted the world’s first supplier and buyer surveys for the CDR sector. The results are now published and reveal some key findings. 

They give an overview of what motivates buyers to keep purchasing durable carbon removals and drive the industry forward, they also assess the current and future capacity and demand for CDR, some risk factors, costs and price expectations. 

Relevant: Launches World’s First Carbon Removal Suppliers And Buyers Survey

According to the surveys from, buyers are highly motivated to help accelerate the industry as 83% of them have mentioned as motivation their willingness to help the early development of the carbon removal sector. They also don’t mind paying high prices for quality, now and in the future. In the future, different buyers are expected to be attracted with different motivations, right now buyers with altruistic motives are founding the industry’s formative phase.


In terms of purchases, buyers provided ranges of their projected procurement volumes in 2024, 2030, and 2050. According to the numbers, 76% of purchasers said they had purchased 10,000 metric tons or less and 46% only 1 to 2,500 metric tons. By 2030, around 17% plan to buy in the range of 25,001 to 100,000 metric tons, by 2050, over 55% of purchasers project to be purchasing over 25,000 metric tons, and 17% over 1M metric tons.

Suppliers are also optimistic about the growing demand and supply of CDR credits. As most companies are in early stages, about 54% of them are reporting no sales to date and 74% report they sold volumes under 1,000 metric tons. By 2030, 93% of suppliers expect their volumes to exceed 10,000 metric tons and almost 40% project more than 1M metric tons sold. By 2050, 70% of suppliers foresee selling more than 1M metric tons and 30% project to sell over 100M metric tons.

In terms of production costs, they are expected to come down significantly by 2050. Around a third of suppliers see their cost per metric ton under $100 in 2024, rising to two-thirds by 2050. At the higher end, 36% of the projects expect their production costs at over $250 per metric ton in 2024, which eventually declines to 5% of respondents by 2050. 

Relevant: Releases A Carbon Removals Purchase Calculator

Sales prices of the carbon removal credits also should decrease as efficiency, productivity and economies of scale increase – 79% of purchasers budgeted over $100 per metric ton for durable CDR. 67% still expect to pay $101 to $500 per metric ton in 2050. Those expectations have a large price gap with the $5 – $10 current range in the voluntary carbon markets for less durable carbon credits. 

The fact that buyers are willing to keep paying much higher prices in the future for high quality and reliability compared to lower prices for lower quality stresses the importance of quality when selecting CDR methodologies.

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