Introduction1 CDR2 is essential for achieving net-zero targets, but the market remains underfunded and underdeveloped. This paper provides an overview of supplier profiles for various CDR technologies and the trends in CDR offtake agreements that have scaled deployment. CDR refers to processes and technologies that extract CO2 from the atmosphere and store it permanently in natural or engineered reservoirs. These methods include: –Nature-based solutions: Reforestation, soil carbon sequestration –Engineered solutions: Direct air capture (DAC) and bioenergy with carbon capture and storage (BECCS) –Hybrid solutions: Biochar and enhanced rock weathering (ERW) Unlike emissions reductions, which prevent CO2 from entering the atmosphere, CDR actively removes existing emissions, playing a crucial role in addressing residual emissions from hard-to-abate industries such as aviation, heavy industry and agriculture.CDR can help corporates and the world reach net zero but faces commercialization and regulatory challenges to scale effectively. 1.1 What is carbon removal? Keeping global warming below 2°C requires both emissions reductions and large-scale carbon removal. The International Energy Agency (IEA) emphasizes that scaling CDR is critical to meeting this goal. However, current deployment levels remain far below what is necessary. While announced carbon capture projects have grown in number, the gap between planned and operational capacity remains significant, with current deployment falling short of the scale needed to align with net-zero emissions (NZE) targets by 2030. Expanding investment and accelerating project execution will be essential to closing this gap.A vital driver of this acceleration will be the establishment of offtake contracts between project developers capturing carbon and corporate as well as non-corporate entities (such as governments). As operational capture capacity scales up over the next five years – driven by the expected commissioning of numerous facilities within the next two to three years – these contracts will play a critical role in securing the investment needed for further expansion. By providing revenue certainty, they will facilitate capital inflows into these facilities and support their capacity growth in response to increasing market demand.1.2 Why are carbon removal contracts the key to unlocking transformative net-zero progress? Carbon Dioxide Removal Technologies: Market Overview and Offtake 6

Carbon Dioxide Removal Technologies 2026