RMI has published a new report, outlining pathways for industrial companies to tap into carbon dioxide removal (CDR).
As experts and the RMI report point out, reaching global net-zero in climate-sensitive deadlines will require the large-scale deployment of carbon removal as a complementary measure to emissions reductions.
To that end, the RMI report highlights the current pivotal moment in which emissions urgency and commercial prospects line up, calling on industry to act now to support the scale-up of CDR technologies while securing business advantages.
Beyond being a muscle for positive environmental change, current CDR integrations would unlock a market advantage for businesses, giving them a competitive edge and enabling them to benefit from regulatory incentives and new revenue streams through carbon credit sales and green premiums.
The report notes that the industries that involve large-scale processing or transportation of materials like rocks, minerals, water, air, biomass, or carbon hold a great potential for CDR implementation within existing infrastructures, reducing the expenditures conventionally related to these kinds of enhancements.
Companies can also provide carbon removal support by financing the sourcing of feedstock, materials, or infrastructure for CDR developers.
In these symbiotic relationships, companies can choose to act as a strategic CDR investor or go a step further and team up with technology developers, joining forces on research and development.
For companies with bolder ambitions, the report suggests venturing into in-house built and implemented carbon removal solutions.
Relevant: New Report Provides Recommendations On Scaling CDR In The EU
Additionally, the report lists promising pathways in which heavy industry entities can integrate CDR within their value chains and operations in a cost-effective and efficient way.
With fast-approaching climate deadlines and a decarbonization sector that is still struggling to gain and keep the needed pace, industries need to take a leading role in shaping best practices for carbon removal, along with regulations and well-defined markets.
The RMI report calls on industry leaders to take action now and analyze their operations, identifying and exploring potential CDR integration pathways, while supporting the research and development in this field through investments and cross-sector collaboration.
Read more: New Report Indicates That The Engineered CDR Credits Market Will Surpass $14B In 2035
