As the ambassador of the Carbon Drawdown Initiative (CDI), we are working on increasing the awareness of this topic and discuss the necessary steps with the stakeholders.
At the rooftop of ALICE bar in Berlin, organized by Deutscher Verband für negative Emissionen e.V. (DVNE) the CDR industry came together for talks with the members of the German parliament and international stakeholders (US ministry of energy, UN IPCC, Umwelbundesamt) for the annual summer fest
Key themes from the evening:
🏆 With 48 CDR companies, Germany is already the leading CDR ecosystem in the European Union
📈 Germany’s CDR industry could reach €70b by 2050, equivalent to today’s wind power industry and generate up to 190,000 jobs
📜 Major CDR legislation – “Langzeitstrategie Negativemissionen” – is already on the way and should be passed by spring 2025
🎯 Integration of CDR into the EU ETS is the main objective and enjoys widespread political support
💶 Cost of durable removals need to reach €200/t to become competitive and scaleable through the domestic market
🔎 Robust monitoring, reporting, and verification (hashtag#MRV) will make or break CDR
During the evening, the Boston Consulting Group (BCG) introduced the latest study where Carbon Drawdown Initiative (CDI) represented through Dirk Paessler, made a significant contribution:
https://negative-emissions.bcg.com/home
Carbon dioxide removal (CDR) is an integral component of climate change mitigation. Carbon dioxide removal is essential for meeting global climate goals – given the divergence between emission reduction targets and our current policies and actual progress, and due to the long-term need for substantial negative emissions. While the Paris Agreement has galvanized global commitment to limit warming to 1.5°C, achieving this requires CDR to neutralize residual emissions that are hard to abate, such as in the cement sector. All IPCC pathways compatible with 1.5°C or 2°C include CDR to achieve a “net zero” emissions world. To meet the 1.5°C pathway, CDR needs to reach approximately 9 gigatons of CO₂ annually by 2050.
