8. July 2024
Henriette zu Doha
BCR | Biochar | CDR

CDR – Europe and Germany’s Role in Cata­ly­zing a Tril­lion-Euro Industry

BCR’s poten­tial to scale

As co-authors, PYREG was invited to contri­bute to a new report by Boston Consul­ting Group (BCG) and Deut­scher Verband für nega­tive Emis­sionen e.V. (DVNE) on the economic poten­tial of Carbon Dioxide Removal.

Accor­ding to the report, the global economic poten­tial of the CDR industry could reach up to €470-940 billion annu­ally by 2050. In Germany alone, the CDR industry could grow to €70 billion per year by 2050, crea­ting up to 190,000 jobs—surpassing the current employ­ment levels in the wind energy sector.

The report also analyzes diffe­rent CDR deploy­ment scena­rios for 2050, and it high­lights that biochar carbon removal ranks as either the number one or number two novel CDR pathway in terms of volume. Regar­ding economic poten­tial, BCR could reach a global economic impact of €35-70 billion.

The report empha­sizes several reasons for BCR’s poten­tial to scale, inclu­ding its high tech­no­lo­gical readi­ness, its flexi­bi­lity across various loca­tions, and its ability to produce surplus energy. These factors make BCR parti­cu­larly promi­sing for large-scale imple­men­ta­tion, also in Germany.

Europe, parti­cu­larly Germany, is poised to lead with its tech­no­lo­gical exper­tise and progres­sive climate poli­cies. However, bold and decisive measures need to be coll­ec­tively imple­mented by poli­cy­ma­kers, the CDR industry, CDR certi­fi­cate buyers, and inves­tors to unlock the full potential.

Explore more: BCG report “Carbon Dioxide Removal – Europe and Germany’s Role in Cata­ly­zing a Tril­lion-Euro Industry”

 

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