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”



Submit a Comment

Your email address will not be published. Required fields are marked *


PYREG is a CDR Inno­vator sponsor

PYREG is a CDR Inno­vator sponsor

We’re proud to be a sponsor of the Carbonfuture Carbon Removal Summit 2024 and are thrilled to contribute to the conversation on innovation in CDR at this exclusive event. PYREG will be part of the CDR Innovation Showcase, where we’ll present our...

What exactly are carbon removal credits and how do they work?

What exactly are carbon removal credits and how do they work?

WHAT ARE CARBON CREDITS? A carbon credit is a tradeable unit representing the avoidance, reduction or removal of one metric ton of CO2e from the atmosphere. Organizations and individuals can use these credits to oset their greenhouse gas...