Current landscape CDR is rapidly transitioning from a niche concept to a credible, market-based solution comprising tangible projects that promise meaningful climate impact. Although current CDR capacity is still modest, growing corporate interest and investment in durable removal technologies indicate substantial future potential.17 Collectively, FMC members have made progress toward the 2030 emissions- abatement target. This illustrates how durable removals are scaling from pilot to portfolio and how FMC is speeding up this process, catalysing greater professionalization and investment in robust carbon-removal markets.18 Impact highlights In 2025, FMC members helped move engineered carbon removal from pilots to industrial deployment. Corporate buyers are now channelling significant volumes into bio-oil, biochar, BECCS (bioenergy with carbon capture and storage),19 CCS and DAC (direct air capture),20 signalling a decisive shift toward durable removals. This transition is led by companies forming long-term offtake agreements and partnerships. Microsoft continues to lead the CDR market, extending BECCS contracts and securing new credits from a CCS and waste-to-energy retrofit project.21 Its latest 10-year deal with Hafslund Celsio for 1.1 million tonnes of removals,22 along with an expanded 5.08 million-tonne contract with Stockholm Exergi,23 underscores its commitment. Google is advancing carbon removal and super- pollutant elimination through landmark deals that target critical levers for atmospheric cleanup. This includes a 200,000-tonne enhanced rock weathering agreement – the world’s largest to date – with Terradot24 and a collaboration with Vaulted Deep and Isometric that pairs 50,000 tonnes of carbon removal with methane elimination from deep organic waste injection.25 It is also supporting next-generation, nature-based removal via Symbiosis26 and a 50,000-tonne reforestation project with Mombak.27 Agreements such as these diversify global supply of CDR and spur new entrants to invest. Capgemini has similarly entered into two CDR offtake agreements,28 with Charm Industrial (16,500 tonnes via bio-oil sequestration)29 and Climeworks (13,000 tonnes via DAC).30 Collectively, these actions highlight a trend towards multi-year, high-volume agreements that de-risk emerging technologies, scale permanent carbon removal and strengthen a resilient, diverse market ecosystem.31 Outlook Scaling carbon dioxide removal technologies will require significant advances in financing, policy support and measurement standardization. With durable CDR still costly and policy incentives limited, leadership from large corporates through long-term contracts is crucial. FMC members are setting valuable precedents by linking substantial multi-year offtakes directly with financing, highlighting the importance of clear, harmonized standards and complementary public-private frameworks to accelerate market maturity. Carbon dioxide removal (CDR) Commitment in brief: Members commit to buy durable and scalable carbon removal by 2030, in addition to reducing their own emissions. Large companies (over $5 billion revenue) will contract for at least 50,000 tonnes or invest $25 million in carbon removal. Smaller companies will contract for at least 10,000 tonnes or invest $5 million. Read the CDR commitment in full. First Movers Coalition Impact Brief 10

First Movers Coalition Impact Brief 2026