Global carbon dioxide removal reaches 2.2 billion tonnes annually

Global carbon dioxide removal (CDR) currently stands at approximately 2.2 billion tonnes of CO2 per year, representing 5% of gross global emissions. Conventional methods, primarily forests and soils, account for 99.9% of this volume, while novel CDR methods contribute about 0.002 billion tonnes annually. The Science Based Targets initiative's (SBTi) new net-zero standard mandates that only removals can neutralise residual emissions, shifting the focus for companies towards acquiring durable removal credits. Prices for nature-based removals range from USD 10-30, whereas durable removals like biochar and direct air capture with storage (DACCS) command prices upwards of USD 135 and USD 500 respectively, reflecting their scarcity and long-term storage capabilities.

This summary was written by carbon.fyi from the reporting linked above. It is not a quotation; cite the original source.