CDR and net-zero
gLOBAL EMISSIONS
The world is on track to a warming of 2.3°C to 2.5°C by 2100. This leads to an escalation of climate risks and damages, and reaching ecosystems’ tipping points.
Fossil CO₂ emissions are responsible for 69% of global GHG emissions and are a result of oil and gas in the energy industry, combustion of coal, and energy-intensive processes in the manufacturing of metal, cement, and other materials.CH4, N2O and F-gas emissions account for 24% of global emissions (UNEP). Industry decarbonisation is urgently needed to reduce new emissions being released in the atmosphere.
CDR and net zero
CDR refers to the anthropogenic activities to remove CO₂ from the atmosphere and storing it in geological, terrestrial, ocean reservoirs or in products.
Achieving 1.5°C by 2100 requires reaching net zero GHG emissions by a combination of deep emission reductions and carbon removal. Deployment of CDR is unavoidable, as even if all major industries rapidly decarbonize their operations, hard-to-abate sectors, such as aviation, shipping, steel, cement, and agriculture will continue to generate residual emissions.
To reach global net-zero emissions, residual emissions need to be balanced by carbon dioxide removals.
Durable vs. temporary CDR
CDR methods span from nature-based sequestration to engineered solutions, such as direct air capture with geological storage, mineralization in concrete, and biochar.
Because fossil emissions stay in the atmosphere for hundreds to thousands of years, they need to be neutralized with a carbon removal of the same permanence and timescale. On the other hand, temporary nature-based removals are also an important mitigation mechanism, which can be used for neutralizing short-term biogenic emissions. This is known as the like-for-like principle.
Corporate climate targets
Support of durable CDR methods by corporate buyers is catalytic for the market to develop to the extent needed in the future. CDR plays a vital role in corporate net-zero strategies under the Science Based Targets initiative (SBTi) and the European Sustainability Reporting Standards (ESRS).
In addition to their long-term net-zero targets, it is crucial that organizations support CDR in the near term by neutralizing residual emissions, making a climate contribution, and setting near-term net-zero targets for a subset of emissions. Long-term pre-purchase commitments are also critical for de-risking CDR implementation and enabling expansion. Without a strong demand signal from the carbon markets in the near term, many CDR technologies will not evolve beyond pilots and small-scale projects.
