A new edition of the State of Carbon Dioxide Removal assessment shows a continuously evolving global CO2 removal sector, highlighting key developments in this third edition of the analysis.
Since the release of the last assessment, the authors note that the field has kept developing, with new deployments on the rise, new policies introduced, and a broadened evidence base that has improved the understanding of future needs and opportunities.
The comprehensive material delves into crucial carbon dioxide removal (CDR) aspects, including current CO2 removal levels and Paris-consistent scenarios, voluntary CDR demand, policymaking and governance, R&D, costs, and more.
In the publication, the authors take a deep dive on the scientific evidence for the costs and potentials of different CDR approaches, highlighting the wide variation across methods and the importance of developing a portfolio of pathways.
According to the assessment, the growth rates needed to scale novel CDR in Paris-compatible pathways are ambitious, but they are comparable to the rates achieved by other fast-advancing climate technologies, such as solar PV and electric vehicles.
Currently, the publication states, novel CDR remains small, at 0.002 GtCO2 per year, but this sector continues to grow rapidly, with deployment increasing at around 40% per year.
Even though climate technology investments have experienced a broader slowdown, the investments in CDR companies have remained relatively resilient. The expectations of future demand, however, have become more fragile.
Relevant: CDR.fyi & The State of Carbon Dioxide Removal Assess Global CDR Capacity In New Survey
The assessment authors observed that new climate scenarios expand the evidence base on the future CDR needs and pathways. The scenarios are shaped by working directly with modeling teams, developing a targeted multi-model comparison with global models and national-level analyses.
Alongside these significant CDR developments, the analysis also points to a number of challenges still holding back this field. One of these challenges is the meaningful gap that remains between the levels of CDR included in country pledges and those seen in Paris-compatible pathways.
The detailed State of Carbon Dioxide Removal assessment can be found here.
Read more: RMI Outlines Three CDR Demand Signals That Could Be Cultivated Into Potent Scale Drivers
