Global carbon removal market could reach $100 billion/yr from 2030-35, report says
LONDON - The global market for carbon dioxide removal credits could reach up to $100 billion a year between 2030 and 2035 from $2.7 billion last year if barriers to its growth are addressed, a report by management consultancy Oliver Wyman said on Thursday.
Total sales of CO2 removals were estimated at $2.7 billion in 2023, the report said but could grow to as much as $100 billion a year by 2030-35. To grow the market in Britain the government should include removals in its emissions trading system, set out a financial framework to support the market and endorse the use of removals within company net zero strategies, it said.
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