Growing numbers of businesses are now investing in carbon removals such as direct air capture (DAC), enhanced weathering and biochar technologies in a bid to secure future financial savings and position themselves as climate leaders, according to voluntary carbon market ratings agency BeZero Carbon.

Research findings published by the firm last week – which have been backed by Shopify, Carbon Engineering and Patch – points to increasing corporate interest in the carbon removals sector, as firms seek to capitalise on new business opportunities while also aligning themselves with tightening climate regulations and voluntary carbon market standards.

The carbon removals sector enjoyed a record year over the past 12 months, boosted by $1bn investment from Stripe, Shopify, McKinsey and Facebook owner Meta through the Frontier initiative, in addition to more than $10bn from the US government through the landmark Inflation Reduction Act which was passed by Congress last month.

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