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illuminem summarises for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:
🗞️ Driving the news: A new working paper reveals that the Global South is well-positioned to lead in the burgeoning carbon dioxide removal (CDR) sector, which is essential for achieving global net-zero goals
• The paper, co-authored by experts from Carbonfuture and the University of Oxford’s TIDE Center, highlights the region’s abundant resources for scalable, durable CDR technologies such as BECCS, DACCS, and biochar
🔭 The context: The CDR sector has expanded rapidly since 2018, now valued at over $10 billion, yet most activity remains in advanced economies
• The Global South controls the majority of resources essential for CDR, including 70-75% of global biomass residues and 65-70% of geological storage capacity
• Countries like Bolivia, Brazil, and Kenya are already exploring CDR projects that integrate environmental benefits like improved air quality, rural employment, and soil enhancement
• With international frameworks such as the EU's Carbon Removal Certification Framework and the Paris Agreement’s Article 6 gaining traction, the sector's global reach is expanding.
🌍 Why it matters for the planet: CDR is a key solution to mitigate both future and existing CO₂ emissions, helping to achieve net-zero targets
• Developing countries can capitalize on their vast natural resources and low-cost renewable energy potential to scale these technologies, offering a pathway for low-carbon industrialization that supports climate action and poverty reduction
• Proper governance, finance, and policy alignment will be crucial to avoid exploitation and ensure that these projects contribute to sustainable development and global mitigation goals
⏭️ What’s next: The report calls on developing countries to strategically align policies, investments, and governance frameworks to capture opportunities in CDR markets
• This could potentially generate 3-9.5 million jobs and $180-600 billion in annual value by 2050
• Scaling CDR in the Global South will require the support of international carbon certification schemes, which are evolving alongside climate finance mechanisms
💬 One quote: “CDR offers a green window of opportunity for low-carbon industrialization while supporting durable mitigation and poverty alleviation,” said co-author Sebastian Manhart
📈 One stat: CDR could generate 3–9.5 million jobs and add $180–600 billion in annual value by 2050, making it comparable to well-established industrial sectors in OECD economies
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