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🌍 The 2024 State of Carbon Dioxide Removal (CDR) Report is out! 🌍 The latest report, led by the Smith School of Enterprise and the Environment - University of Oxford, makes it clear that we need to scale up Carbon Dioxide Removal to meet the Paris Agreement goals. Here are some key insights: 📌 Targets: By mid-century, we need to be able to remove 7-9 billion tonnes of CO2 sustainably each year to achieve the 1.5°C target. Currently, we're only removing 2 billion tonnes per year, primarily through conventional methods like afforestation and reforestation. 🔬 Innovative Methods: Emerging CDR techniques like biochar, enhanced rock weathering, #DACCS, and #BECCS currently contribute just 1.3 million tonnes annually, which is less than 0.1% of total CO2 removal. We need to scale these diverse methods to close the gap. 📈 Policy and Investment: Despite rapid growth in research and public awareness, there’s been a slowdown in development. Investment in CDR needs to increase significantly, with current funding for CDR representing just 1.1% of investment in climate-tech start-ups. Strong government policies and support are crucial to drive this growth. 🔍 Monitoring and Verification: Improved monitoring, reporting, and verification (MRV) systems are vital for scaling CDR sustainably. Embedding CDR policies into national climate plans and developing robust MRV frameworks will help ensure the credibility and effectiveness of these efforts. 💡 Voluntary Carbon Market (#VCM): The VCM plays a key role in scaling CDR solutions. Despite some challenges, the VCM has seen a significant increase in demand for carbon removal credits, with quality-oriented, removals-focused purchases growing nearly five-fold from 2021 to 2023. At CEEZER, we’ve noticed this too: a notable increase in removal transactions on our platform. The VCM is key to driving the growth of durable carbon removal solutions needed to meet global climate targets! Want to know more? Check out detailed insights and information on the future of CDR in the full report (link in comments). #ClimateAction #CDR #CarbonRemoval #VCM #ClimateChange

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