Posted: 27 Jun 2024 Resource Type: Research Report Download Back $100bn The global carbon dioxide removal market may reach up to $100bn a year between 2030 and 2035 There is immense potential in the global carbon dioxide removal (CDR) market, which may reach up to $100 billion a year between 2030 and 2035, if barriers to scale are addressed. Demand for CDR credits is growing but is still insufficient to support necessary investment levels to meet net-zero targets. Key actions which can help overcome these barriers include as articulating the role of removals in the UK's net zero strategy, providing guidance to companies on their appropriate role, establishing clear thresholds for monitoring, verification, and reporting, including removals in compliance markets, detailing subsidy and support mechanisms, and supporting the development of the CDR financial market ecosystem. This report, produced in association with Oliver Wyman and the UK Carbon Markets Forum, identifies major barriers to CDR demand, and outlines key supply-side constraints while highlighting key actions that the industry and public sector can take to support the development of the CDR market. Addressing these barriers is crucial to unlocking the market's full potential and achieving global climate goals. Watch Catherine McGuinness, City of London’s representative on the UK Carbon Markets Forum and James Davis, Oliver Wyman’s co-head of climate and sustainability in Europe discuss the potential of carbon dioxide removals. Helping economies worldwide tackle climate challenges The Global City sustainable finance hub The Global City sustainable finance hub Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download Related content Research Report The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 Jul 2025 - Explore the progress we’ve made in championing the UK’s financial and professional services industry in 2024/2025. The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 News Employer Pension Pledge Jul 2025 - The Employer Pension Pledge aims to enhance the value of pensions by promoting a focus on value for money rather than just cost when selecting pension providers Employer Pension Pledge Research Report The future of financial and professional services investment in the UK Jul 2025 - A proposition for the creation of a financial services Investment Hub, a single national platform to streamline investor engagement and unlock billions in capital for growth. The future of financial and professional services investment in the UK Research Report Regulating for growth: A cultural shift for a competitive UK Jul 2025 - 10 practical recommendations to embed a pro-growth mindset: from smarter supervision and faster approvals to proportionate consumer protections and modernised frameworks. Regulating for growth: A cultural shift for a competitive UK