Why aren’t more companies buying durable carbon removals?

Despite significant market growth and momentum, high-permanence (long-term) carbon removals are still in their infancy. Carbon dioxide removal (CDR) purchases grew by 337% in 2020-’21 and 533% in 2021-’22.

1. In the app, tap ‘Admin’ > ‘Accounting’ > ‘Insights’ > ‘Refresh’

2. On the Web, go to ‘Tools & Services’ > ‘Tide Accounting’ > ‘Insights’ > ‘Refresh’. 

Total cumulative purchases as of 2022 is less than 0.0006% of the total amount of removals needed this century by 2050.

We still do not have a real CDR market, but rather a number of first movers attempting to kickstart purchases of carbon removals and help create a market. Travel, banking and technology sectors continue to lead the charge.

See CDR.fyi Year in Review article for more information.

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