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SBTi - Step Forward or Missed Opportunity for CDR?
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8,000 companies have emission reduction targets validated by the Science Based Targets initiative. Only around 50 of them have so far purchased durable carbon removal.
Imagine if all of them purchased CDR? The impact could be >50Mt of demand. Per year. Starting from 2030.
On March 18th, the SBTi released the draft net-zero standard 2.0 which marks a potential inflection point. Will it:
- Drive companies to begin CDR purchases immediately?
- Keep CDR voluntary until the 2040s?
- Inadvertently push companies away from SBTi due to concerns about mandatory CDR costs?
To make sense of this wide spectrum of possibilities, the CDR Policy Scoop is delighted to have Robert Höglund back on the show. He has been a member of the external SBTi Technical Advisory Group and understands the process and its implications for CDR like no other.
Links:
- Eve Tamme: LinkedIn and Website
- Sebastian Manhart: LinkedIn and Website
- Robert Höglund: LinkedIn, Website, and SBTi draft CNZS Analysis
- SBTi’s draft Corporate Net Zero Standard Consultation
- Carbon Direct Analysis on draft SBTi CNZS
- Lukas May analysis on potential CDR demand of draft SBTi’s CNZS
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