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Carbon Removal Needs to Outpace Solar Growth to Meet Climate Targets, Report Warns
A new global report, the 3rd Edition of the State of Carbon Dioxide Removal, released on June 2, 2026, warns that national pledges fall short of pathways limiting global warming to 1.5°C by over 5 billion tonnes of CO2 per year by 2050. To close this critical gap, carbon dioxide removal (CDR) must scale at rates comparable to, or even faster than, the most rapid clean energy transitions in history, such as solar power and electric vehicles. While novel carbon removal technologies currently account for only 0.1% of total annual removals, they are experiencing a rapid 40% annual growth rate.
In the UK, the construction of the nation's first full-scale carbon capture plant for Energy-from-Waste has entered a significant new phase at Encyclis' Protos project in Cheshire. Expected to be operational by 2029, this facility near Ellesmere Port aims to prevent approximately 370,000 tonnes of CO2 emissions annually from entering the atmosphere, with the captured CO2 slated for permanent subsea storage in Liverpool Bay.
Canadian financial services provider TD Bank has signed a 10-year agreement with Climeworks Solutions to procure high-quality carbon removal credits, marking a strategic shift towards diversified carbon management portfolios. This agreement, announced on June 1-2, 2026, will encompass a range of high-durability solutions, including enhanced rock weathering, biochar, bioenergy with carbon capture and storage, and future direct air capture credits from Climeworks' North American facilities, following the recent establishment of Climeworks' corporate headquarters in Calgary.
The Bottom Line
The latest intelligence underscores a critical global shortfall in carbon removal efforts, necessitating unprecedented scaling of technologies. While significant projects like the UK's first waste-to-energy carbon capture plant and major financial commitments from institutions like TD Bank are advancing, local opposition to CO2 injection sites, as seen in Henry County, Illinois, and Louisiana, highlights ongoing challenges in public acceptance and project deployment.
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