ClimeFi has published a new report reflecting on Q2 2026 in the carbon dioxide removal (CDR) sector, in which it points out significant buyer activity beyond Microsoft’s established leadership.
In that regard, the report highlights that Q2 of 2026 saw non-Microsoft buyers commit to 2.1 MtCO2, an all-time high and up 136% compared with the same period last year.
The report shows that in the second quarter of this year, non-Microsoft buyers signed 14 deals, the most contracts recorded in any quarter to date. ClimeFi points out that seven of those buyers were making their first key CDR commitment.
Another notable takeaway from the report is that for the first time a municipal buyer has procured CDR at scale. This refers to the City of Stockholm’s 750,000-tonne purchase from Stockholm Exergi, which also represents the quarter’s largest deal.
Additionally, Q2 2026 saw almost double the issuances of Q1, with a total of 193,000 credits issued across Puro.earth, Isometric, and Rainbow.
In terms of pathways, three large Bio-CCS deals drove this pathway to a 60% increase in market share in Q2 2026, compared to only 2% in Q1.
Excluding these major deals, the report notes that biochar remained the most in-demand pathway, accounting for 86% of volumes and surpassing 1 MtCO2 for the third time in five quarters.
Q2 2026 marks quarter-on-quarter CDR growth
According to ClimeFi’s publication, Q2 2026 added a further 3,370 kt of carbon removal commitments, marking an 84% quarter-on-quarter growth and bringing the cumulative total to 45.9 MtCO2.
The estimated value of total commitments made in Q2 2026 is $676 million, a number obtained from all publicly disclosed tonnages, limited to deals exceeding 5 ktCO2.
In the report, ClimeFi also goes through the notable market events that took place within this quarter, including the launch of the EU CDR Buyers’ Club, the SBTI Version 2.0 publication, and the launch of the public consultation on the ISO 14060 draft net-zero standard.
These and other market insights are explained in more detail in the complete version of the report, which is available for download here.
Read more: Sensirion Invests In A High-Quality CDR Portfolio Via ClimeFi
