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🤯 I want to share some great tidbits from the latest report from our partner, Puro.earth's April 2024 report “Ready for Offtake: U.S. Leads Expanding Global Market for Engineered Carbon Removals".
📈 Overall, the entire CDR market grew more in 2023 than any year prior. To be more precise: 160 times the number of carbon removal credits were used in the second half of 2023 compared to 2019.
🇺🇲 The U.S. continues to dominate the global CDR scene hosting more than half of the qualified projects under the Puro.earth standard and U.S.-based suppliers delivered 27,000 credits and corporate buyers received about 20,000.
🚀 The business and finance sector has significantly scaled up its engagement, with CDR credit retirements increasing 1,400% compared to 2021 (from just over 2,000 in 2021 to over 30,000 in 2023) and now representing 50% of total credits.
🪨 Biochar leads in technology use within the CDR space, supported by Puro’s Carbon Removal Price Index (CORC) which tracks carbon pricing.
💡 Great to see another source shedding light on CDR’s rapid growth from a different perspective. Also really recommend CDR.fyi’s 2023 summary: https://lnkd.in/d3NwMSFZ
👏 Thank you Puro.earth for putting this together.
❓ What is your take? How do you see this growth and is it fast enough?
🔗 Definitely check it out yourself here.
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