TECHNICAL ARTICLE
tions also permanently sequester carbon dioxide – such as stable carbonate formation in the production of CO 2-derived concrete. When using biogenic sources of carbon dioxide, such as from biogas or ethanol production, making CO 2-derived concrete corresponds to removing carbon dioxide from the biosphere and enables lucrative carbon credit generation.
Most CO 2-derived concrete players currently sell carbon credits on the voluntary market to generate additional revenue( or intend to in the future.) By combining this revenue generation with product sales and waste disposal fees, some CO 2-derived concrete players are already reporting profitability. always been straightforward. The decentralized and overcrowded nature of the voluntary carbon markets has made selecting high quality, verifiable carbon credits difficult for new buyers historically. This unnecessarily complicated marketplace has been a barrier to entry for some companies, but Article 6.4 intends to lay the groundwork for a more unified and standardized carbon market. It is worth noting some projects aimed at reducing fugitive emissions sell CO 2 avoidance / reduction credits in voluntary markets to help with financing themselves, although methodologies and pricing for these credits can look quite different compared to the emerging carbon dioxide removal space.
Outlook
Voluntary market finance will be essential for meeting global net-zero goals, but this space has a history of a volatility and vulnerability. While technologies focusing on direct air capture or carbon dioxide utilization in concrete have been able to rely on carbon credit revenue to foster growth and innovation thus far, only a deeper integration between the voluntary and compliance carbon market spaces will enable these solutions to reach a climate-impactful scale. If these spaces continue to merge, IDTechEx forecasts in its“ Carbon Dioxide Removal( CDR) 2024-2044: Technologies, Players, Carbon Credit Markets, and Forecasts” report that emerging carbon dioxide removal technologies could be withdrawing over 200 million tonnes of CO 2 from the atmosphere each year by 2035, with the associated credit value exceeding US $ 30 billion.
This is why the progress on Article 6.4 at COP29 is so vital. A UN carbon market could provide a bigger pool of credit buyers than ever before, and reduce complexity in existing voluntary carbon markets by ensuring methodologies for issuing credits are in line with Article 6 principles and requirements. Although there are still many unanswered questions, especially around ensuring a high-quality credits, COP29 signifies that the international community is ready to embrace carbon markets on a grander and more harmonious level than ever before.
REFERENCES
1. https:// www. idtechex. com / en / research-report / carbon- capture-utilization-and-storage-ccus-markets-2025- 2045-technologies-market-forecasts-and-players / 1017
2. https:// www. idtechex. com / en / research-report / carbondioxide-removal-cdr-2024-2044-technologies-playerscarbon-credit-markets-and-forecasts / 1007
3. https:// www. idtechex. com / en / research-report / carbondioxide-utilization-2024-2044-technologies-marketforecasts-and-players / 982
Addressing fugitive emissions
The unintentional nature of fugitive emissions can make their impact on scope 1 CO 2 emissions hard to address. Purchasing carbon credits therefore offers a pathway for companies to offset any emissions that are unforeseen or beyond control. Choosing which credits to use has not
ABOUT THE AUTHOR
Eve Pope is a Technology Analyst at IDTechEx, focusing on sustainability and carbon capture, utilization, and storage( CCUS). Her focus includes the overall CCUS market as well as CO 2 removal, CO 2 utilization and decarbonization of cement. Before joining IDTechEx, Eve graduated from the University of Cambridge with a BA in Physical Natural Sciences.
18 FUGITIVE EMISSIONS JOURNAL • APRIL 2025