Puro.earth Releases New Report Showing The Rapid Growth Of The U.S. Carbon Removal Market

Puro.earth Releases New Report Showing The Rapid Growth Of The Carbon Removal Market - Carbon Herald

Puro.earth – the leading verifier of engineered carbon removals, announced the launch of a new report tracking the rapid expansion of the global CDR market. The report called Ready for Offtake: U.S. Leads Expanding Global Market for Engineered Carbon Removals reveals important findings about the growth of the market, the number of retirements of CDR, as well as supply and demand insights. 

As the title inclines, the US is emerging as a global leader in the market both in terms of credits purchased and carbon removal projects implemented. The country is contributing significantly for the market advancement for which key policies like the Inflation Reduction Act and the successes of the first movers are incremental. 

Relevant: “I Haven’t Met A CFO, Who Would Pay €100/ 200 For A Ton Of CO2 Removed That They Could Reduce Instead,” Antti Vihavainen, CEO Puro.earth

According to the analysis, the U.S. is home to more than half of all the qualified removal projects currently seeking certification under the Puro.earth standard. After the U.S., Brazil and Bolivia lead in CORC supply, while Canada, Switzerland, and Germany are the largest buyers. 

The industries buying the most carbon removal credits are also looked into. As a new wave of CDR buyers are ramping up, new CDR projects and project types are being verified under the Puro.earth Standard to meet demand.

“2024 is an incredibly exciting year. We have 3 new science-backed removal methods that will start to yield CORCs, and increasing demand in the market that allows more CDR projects to get off the ground. Our expanding supplier funnel shows the market is working, and that it’s ready for growth. There is no time to waste,” commented in the report Antti Vihavainen, CEO of Puro.earth.

Relevant: Carbonfuture, Puro.earth, Pyreg & SYNCRAFT To Boost Transparency In CDR

For more detailed information about the analysis’ details over the CDR market, please feel free to fill in your information and access the report here.

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