Strategic Importance of Carbon Dioxide Removal in 2024

This document is a report that outlines the critical need for companies to prioritize carbon dioxide removal (CDR) as part of their sustainability strategies in 2024. It explains that while decarbonization is essential, it must be complemented by CDR to effectively address hard-to-abate emissions. The report details the projected demand for CDR, which is expected to exceed supply significantly by 2030, creating a supply-demand imbalance that companies must navigate. It emphasizes the risks associated with delaying action on CDR, including reputational damage and regulatory compliance issues. The report also presents a positive business case for investing in high-quality CDR technologies now, highlighting potential financial benefits and competitive advantages for early adopters. Furthermore, it discusses the urgency of scaling CDR efforts to prevent crossing critical climate thresholds and the need for substantial investment to drive innovation and production in the CDR industry. The document concludes by stressing that immediate action on CDR is not only necessary but also an opportunity for companies to lead in sustainability.