As we count down to the 4th International Conference on Carbon Dioxide Removal in Milano, we are hosting a series of deep-dive discussions on the research that will be shaping our sessions this June! 
How are companies actually buying into carbon removal? 
This study categorizes corporate engagement with durable CDR, distinguishing between “diffuse” sporadic credit purchases and “strategic” business integration. 
It provides a brilliant new framework for how firms can move beyond ambiguous motivations to create credible, long-term climate impact deeply linked to their core business operations! 
Full Abstract: From sporadic purchases to strategic commitment: how firms engage with durable Carbon Dioxide Removal
Authors: Oliver Akeret, Volker Hoffmann
The market for durable carbon dioxide removal (CDR) remains immature and dependent on early adopters. Although expectations for long-term market growth are high, present deployment rates are far lower than those expectations imply. Without regulatory mandates that encourage corporate engagement with CDR, most firms abstain from participation, and among those that do engage, their motivations are often ambiguous. To drive market growth, it is necessary to understand why and how firms choose to engage. This has received limited scholarly attention and is poorly understood by market actors, including firms, suppliers, and policymakers.
Drawing on a qualitative analysis, we present a framework that characterizes different forms of CDR engagement, explains why and how firms pursue them (or not), and links these approaches to industries and firm types. The analysis consists of two parts: First, we conduct semi-structured interviews in two rounds: an exploratory round with market experts from eight CDR-focused organizations to characterize general engagement patterns, followed by a confirmatory round with executives from eleven intermediaries and suppliers to validate preliminary insights and document more strategic forms of engagement with concrete cases. Second, we carry out company case studies to examine how firms implement strategic forms of engagement in practice and how they evaluate their drivers, constraints, and consequences.
Our preliminary analysis of the first part shows two main findings. First, most firms currently engaging with CDR are guided by diffuse rationales, often shaped by contingent factors such as surplus budgets or internal advocates. Under these conditions, engagement centers on sporadic CDR credit purchases might be perceived as “random”, due to fluctuating volumes, irregular timing, and shifting technology choices. Our interviews indicate that firms face greater exposure to greenwashing claims when such purchases lack clear links to core operations or corporate strategy beyond net-zero targets.
Second, we identify a smaller set of firms whose engagement extends beyond credit purchases but is more closely connected to their business activities. These more strategic forms of engagement differ widely in their design and execution. For example, some firms integrate CDR technologies into their value chains, such as by supplying biomass residues from agri-food operations for biochar production. Others engage to build capabilities for developing CDR-related products or advisory services, as seen in the consulting and financial services sectors. Our interviews suggest that these strategic forms of engagement are more consistent and intentional. By linking CDR spending to business activities, firms can defend these investments internally and signal credible climate action externally, while also helping to reduce uncertainty and improve market practices and technological progress.
How can we encourage companies to see carbon removal as a long-term strategic investment rather than just a ‘random’ or sporadic purchase? 
