We have a few follow-ups on our launch of the 

Given that this is the first-ever survey of its kind, we had modest expectations about the number of responses we would receive.

We are thrilled that those expectations have already been surpassed less than one week in, but we are eager to get more responses to increase the value of the ensuing report!

If you are a purchaser or supplier, please 

If you are not, please refer any purchasers or suppliers you know to qualify for a complimentary copy of the detailed findings (a fee will apply otherwise).

We stated it at the launch, but it bears repeating:

All responses to the survey are kept strictly confidential. We take data privacy seriously and are only allowing access to individual responses to a small team internally. 

Special thanks to our panel of external reviewers: Annie, Antti, Axel, Bjørnulf, Cimberley, Chris, Claire, Eleonora, Harris, Jason, Joanna, Josiah, Markus, Mike, Mitchel, Neal, Olivier, Sean Sophie, Vida, and last but certainly not least, Peter, who proposed the idea to CDR.fyi!

Thanks to the AirMiners community and all our LinkedIn and X followers for forwarding our launch announcements.


And finally, many thanks also to the stellar members of our team of volunteers at CDR.fyi who have been most engaged in preparing and launching the survey: Kevin, Michael, Michelle, Quentin, Robert, and Tankson.

It’s Thanksgiving tomorrow for all of our friends in the USA. As challenging as world affairs and the climate situation may be, it’s always helpful to reflect on how fortunate we are and give thanks for the opportunities we have to contribute to a better world. Wherever you may be in the world, Happy Thanksgiving!

2024+ Market Outlook Survey: Update

Today, Nov 15, 2023, we launched the world's first-ever durable CDR market outlook survey!

 were very well received by the industry, and we often receive feedback about how useful they were. They provide valuable insights on pricing and volume trends from a rearward-looking perspective. Based on suggestions and feedback from numerous conversations with industry partners, it became clear how useful it would be to have a forward-looking market outlook report!


As such, over the course of the past six weeks, we have been debating and drafting questions, reviewing them internally, running them by a panel of over 20 helpful industry partners who saw the value in conducting such a survey and are eager to see the results, and coding and testing the surveys. This all culminated today with the launch of our 2024+ Durable CDR Market Outlook Survey!

The survey’s primary purpose is to assess current and project supplier capacity and delivery capability, purchaser demand, and critical factors affecting the growth of the durable CDR industry. In the survey, we address key questions such as:

What forms of durable CDR are purchasers planning to purchase in 2024 and beyond, and at what price?

What volumes of durable CDR are suppliers planning to sell and deliver?

How do purchasers buy? What matters to them?

What sales channels are suppliers using to go to market, and how will those evolve?

What types of durable CDR are projected to increase the most?

To receive a complimentary copy of the detailed insights on questions like these and many more when we publish them in January 2024, please 

If you are not a purchaser or supplier, you can still get a complimentary copy of the detailed insights by referring a purchaser or supplier to complete the survey through 

The market outlook survey will be open until December 1, 2023. We will publish summary findings freely in January 2024, and detailed reports will be available to those outlined above and for a fee for everyone else.

All individual responses will be strictly confidential.

For any questions or comments about the survey, please email us at surveys@cdr.fyi.

Announcing the First-Ever Durable CDR Market Outlook Survey

Only 32 or 0.5%* of the 5,998 companies that have committed or validated Science-based targets have purchased durable carbon removal, according to our analysis at the carbon removal market platform CDR.fyi.

There is a great need to start scaling the carbon removal industry now. All companies need some level of carbon dioxide removal (CDR) to reach their net zero targets, but today, only a handful are taking on the responsibility to grow the sector.

 of the market for permanent CDR. They project that voluntary buyers with deep pockets are expected to continue dominating the market until the end of the decade, reaching 40-200 Mt CO2/yr by 2030. After this point, they suggest demand will outpace supply, and the compliance market will begin to take over.


The long-term needs for carbon removal are hard to precisely estimate, but even the most conservative estimates put it at billions of tonnes by midcentury. Reaching 40 million removed tonnes by 2030 is likely on the lower end of what is needed to be able to reach gigatonne levels by 2050.

CDR is a new industry, so we are starting almost from scratch. In 2022, only 45,500 tonnes of durable CDR credits were delivered; this would need to grow almost 1000x in 8 years to reach 40 Mt in 2030. That sounds like a bizarrely high growth rate, but it’s far from impossible since several companies are already planning facilities with megatonne annual removal capacity. 

Today's purchases of future tonnes are much larger than deliveries, but those are offtake agreements that will be delivered over many years. For delivery by 2030, tonnes need to be ordered by 2026-2027 at the latest.

To finance new facilities, suppliers need multiyear preorders, not just single-year purchases. Government support certainly helps but is not a way out since it almost always requires some type of cofinancing, true even for the new US DAC hubs. To enable 40 Mt in annual capacity by 2030, the total value of offtake agreements signed in the 2020’s would likely need to exceed 100 billion USD and 400 Mt. So far 4,78 million tonnes have been ordered according to our data. A 100x growth in offtakes this decade seems within the range of possibility considering that sales are on track to 10x from 2022 to 2023.

One way to achieve this would be to have 4000 buyers ordering on average 100,000 tonnes for future delivery. So far only 6 buyers have bought over 100,000 tonnes and 10 more have bought at least 10 000 tonnes. The number of big buyers needs to increase by several orders of magnitude.

The risk is not just that CDR fails to grow fast enough but also that the ecosystem shrinks and innovation is stifled. Buyers play two roles: scaling the market, and expediting innovation that helps construct a diverse supplier ecosystem. The second role often entails many fewer tonnes purchased but is perhaps the most important one at this early stage.

The primary challenge for CDR start-ups is to sustain themselves until the demand escalates. At present, there are insufficient buyers to buoy them all, and there are 

 a majority of them have never made a sale. However, the start-ups that survive until 2030 have a promising future.


How can we make this happen? A survey in the BCG-report showed that nearly 70% of respondents would ramp up their durable CDR expenditure if guidance were available from scientific or non-governmental organizations. The Science-based Target Initiative in particular (SBTi) plays a critical role in stimulating carbon removal. Even though SBTi mandates permanent carbon removal to reach net-zero targets, it currently offers no incentive for companies to finance carbon removal before net zero. SBTi can demonstrate more leadership by 

companies to invest in external climate solutions today, so-called beyond value chain mitigation, and clarify that CDR is a crucial part of that support.


Without clear incentives for buyers, sufficient demand is unlikely to materialize.

*The companies with a Science based target commitment (committed or validated) that also appear in CDR.fyi’s database of carbon removal buyers are: Microsoft, Airbus, All Nippon Airways, AFRY, Boston Consulting Group, H&M Group, Block, Inc., Nasdaq, Inc., Zendesk, TravelPerk, Audi (Volkswagen AG), Thermo Fisher Scientific Inc., Vestre AS, Bayer AG, Axfood AB, Bennetts Associates, Samsara Inc., Stanhope Plc, Svenska Handelsbanken, Suomen Yliopistokiinteistöt Oy, GoCardless, Sparebanken Vest, Dalsem BV, WHEB Asset Management LLP, Boom Supersonic, The Economist Group, Zurich Insurance Group Ltd, McKinsey & Company, Inc (through Frontier), Oxwash, Mentimeter AB, plus Avanza Bank and BioGaia AB that supported carbon removal through the Milkywire Climate Transformation Fund/WRLD Foundation. Twenty-two of these companies are in Europe, one in Asia, and the other nine in North America. Nine are SMEs.


 is the largest open data platform dedicated to high-permanence CDR monitoring. Our goal is to equip market participants, policymakers, consultants, academic researchers, and capital allocators with up-to-date, accurate data on the CDR industry to guide investment and help scale this important component of the climate equation.

Only 32 companies that have committed or validated Science-based targets have purchased durable carbon removal, according to our analysis at the carbon removal market platform CDR.fyi.

CDR.fyi Blog

2024+ Market Outlook Survey: Update

Announcing the First-Ever Durable CDR Market Outlook Survey

Only 0.5% of Companies with SBTi Targets Have Purchased Carbon Removal

Hello, CDR World