- Carbon-removal credits are one of the few ways companies can decarbonize, but so far demand has remained limited to just a handful of buyers.
- The Intergovernmental Panel on Climate Change says 10 billion metric tons of carbon removals are going to be needed a year by 2050. But only 175 million tons have been sold to date, or less than 2% of what is required, according to Allied Offsets, a carbon markets database.
- Companies are wary of the risks of investing in nascent technologies and the criticism they could face if removal projects don’t deliver as promised. Many also fear blowback for spending money on carbon removal instead of investing that money on trying to reduce their own emissions.
To read the news visit https://www.wsj.com/articles/it-could-be-a-250-billion-market-but-almost-no-one-is-interested-39d4463d
