Deal supports growth of CDR sector
Major CDR projects secure offtakers in landmark deal
Corporate buyers including UBS and Swiss Re commit to buy carbon dioxide removals in boost for emerging sector
Three of the largest technology-based carbon dioxide removal (CDR) projects have secured contracts in a landmark deal brokered by Nextgen, a joint venture between climate project developer South Pole and Japanese conglomerate Mitsubishi. Under the deal, Swiss investment bank UBS and reinsurance firm Swiss Re are among a group of companies committing to buy a total of 193,125t of CDRs—equivalent to about a quarter of all CDR purchases to date—in a boost for the sector as it seeks investment to scale up and reduce costs. Under the deal, all CDRs will be certified by industry accreditation programme Icroa in a move designed to establish the best practice for the market. $200/t – Nextgen’s
Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
