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Boosting Demand for Carbon Dioxide Removal

Boosting Demand for Carbon Dioxide Removal

Full Title: Boosting Demand for Carbon Dioxide Removal
Author(s): Karan Mistry, Amy Sims, Thomas Baker, Paulina Ponce de León Baridó, Alex Dewar, and Habib Azarabadi
Publisher(s): Boston Consulting Group
Publication Date: June 24, 2024
Full Text: Download Resource
Description (excerpt):

There is broad consensus that durable carbon dioxide removal (CDR) will play a crucial role in global decarbonization. According to the Intergovernmental Panel on Climate Change (IPCC), the use of CDR to counterbalance hard-to-abate residual emissions is unavoidable if net zero CO2 is to be achieved. This report focuses specifically on durable CDR, which plays a role in all IPCC 1.5 and 2.0 degree-aligned scenarios. The role of durable CDR in limiting temperature rise could be greater than anticipated, given that globally, the world is not on track to meet decarbonization commitments.

This report, an independent study by the Boston Consulting Group (BCG), is intended to assess the demand potential for CDR in the light of both voluntary and regulatory drivers, through 2050. The report leverages insights from extensive interviews with policy and regulatory experts, as well as primary and secondary research and modeling. The results represent an optimistic yet realistic view of how future markets may evolve based on today’s information.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of OurEnergyPolicy.org, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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