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
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
