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💚 Carbon dioxide removal (hashtag#CDR) is not just essential for the climate, but a positive, economic growth story. This is what a new study from the Boston Consulting Group (BCG) highlights.
💡 Working in close collaboration with the Deutscher Verband für negative Emissionen e.V. (DVNE) (who commissioned the study) and its members, the study takes a first-of-a-kind approach in analysing the potential of the value chains of each individual technology, and then breaks it down to what this means for the world, for Europe, and especially for Germany.
Key takeaways:
🎯 The world will need between 4.5Gt and 9Gt needed by 2050 to achieve 2 and 1.5 degree scenario respectively.
💶 The global economic potential of CDR could reach €470-940 billion per year by 2050 in a 2.0°C and a 1.5°C pathway, respectively - as large as the aviation industry today.
📈 The European (German) CDR industry could grow to €220B (€70B) per year by 2050, creating up to 670K (190K) jobs.
📉 We can achieve significant cost reductions in the range of 35-85% for most approaches, leading to costs per ton as low as €80/t for hashtag#BCR, €180/t for hashtag#BECCS, €130/t for hashtag#EW, and €270/t for hashtag#DACCS.
🏭 Overall, the economic contribution of the value chains across technologies breaks down as follows: 41% operations, 16% plant technology, 16% CO2 transport/storage, 10% MRV, 9% feedstock, and 9% intermediaries.
🔗 Highly recommend checking out the full report. It is packed with informative graphics and insightful analyses unlike any you will have seen to date: https://lnkd.in/dj76wzQk
🗞 For the German speakers out there, check out an article Klaus Stratmann published in the Handelsblatt today on this study: https://lnkd.in/dySGEDgN
👏 A huge shout out to the lead authors: Dr. Patrick Herhold Dr. Johanna Puetz Karan Mistry, PhD Robin Bierganz Phillip Spiekermann Louisa Maier as well as the co-authors: Stefan Schlosser Sebastian Hanss-Mirodone Nikolaus Wohlgemuth Magnus Drewelies Julia Mühleiß Caroline Braun Sarah-Luise Grimm Jörg Dohna Marcel Rensmann Johannes Schwegler Constanze Adolf, Phd Tony Oehm.
🙏 Finally, a big thank you to the sounding board (which I was part of): Jodok Batlogg Mevina Caviezel Carolin Güthenke Lisa Mangertseder Dirk Paessler Philipp Rothenberger Oscar Schily Venna Lepel and the invaluable input we got from Martin Albicker Oliver Geden Pascal Hader-Weinmann David Keller.
👋 Looking forward to diving deep into the details of this report at Deutscher Verband für negative Emissionen e.V. (DVNE)’s Summer Party tonight on a glorious summer’s day on the rooftops of Berlin. See you there!
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