Companies need to act today and start purchasing high-quality carbon dioxide removal (CDR).
Companies need to act today and start purchasing high-quality carbon dioxide removal (CDR).
The climate crisis demands immediate and substantial action, with temperature records being broken and carbon dioxide accumulating in the atmosphere at unprecedented rates. To limit the devastating effects of climate change, including the loss of glaciers and hazardous sea-level rise, it is crucial to keep the temperature rise below 1.5°C compared to pre-industrial levels.
Achieving net-zero emissions requires both reducing emissions and scaling up high-quality carbon dioxide removal (CDR) by a factor of 1000 by 2050. Companies play a vital role in this by integrating CDR into their net-zero strategies. Early engagement in CDR offers significant benefits, including cost savings, competitive advantages, enhanced shareholder value, and the ability to attract top talent.
Conversely, delaying action poses risks such as supply constraints, compliance issues, litigation, and reputational damage. Companies are advised to develop a phased approach to CDR, integrating it into their overall sustainability strategy, and investing in diversified portfolios of high-quality CDR solutions.
Effectively communicating these initiatives and establishing a strong business case tailored to the company's context are also crucial steps for success.