Carbon removal is creating economic opportunities around the world. The recent $100 million XPRIZE Carbon Removal competition results underscored the growing momentum for removals and recognized a diverse set of winning carbon removal pathways, business models, and deployment strategies. Rather than backing a single breakthrough, the prize affirmed the need for a multifaceted and global approach to carbon removal. 

Among the XPRIZE winners are four members of the Carbon Business Council—Mati Carbon, Vaulted Deep, UNDO, and Planetary—each advancing a distinct and scalable approach. Together, their work highlights the power of pursuing multiple pathways to draw carbon from the atmosphere while simultaneously creating jobs, restoring ecosystems, and building community resilience.

These four companies illustrate what it looks like to translate diverse carbon removal strategies into tangible climate action on the ground and in the ocean. Learn how their joint approach tackles removals from multiple angles, and explore more in depth Q&As with each company: Mati Carbon, Vaulted Deep, UNDO, and Planetary.

A recent winner of $50M in the XPRIZE Carbon Removal competition and a member of the Carbon Business Council, Mati is scaling enhanced weathering across the Global South—delivering verified carbon removal while improving soil health and boosting crop yields. With operations spanning India, Zambia, and Tanzania, and credits sold to buyers like Frontier and Shopify, Mati is leading the charge to bring high-integrity carbon removal to regions often overlooked in global climate investments yet on the frontlines of climate change impacts.

In this Q&A, Shantanu Agarwal Founder and CEO at Mati Carbon shares how they’re scaling responsibly across the Global South, creating local jobs, and building trust from the ground up.

A member of the Carbon Business Council, Vaulted recently earned recognition in the XPRIZE Carbon Removal competition, taking home $8 million to accelerate its growth. In this Q&A, Vaulted Co-Founder & CEO Julia Reichelstein shares how their waste-to-storage approach works, what winning the XPRIZE means for their future, and how they’re scaling responsibly while delivering real benefits for communities and the planet.

Vaulted is one of many Carbon Business Council members leading the charge on carbon removal—and demonstrating what it looks like in practice. Explore the 100+ member companies driving economic growth around the world. The Carbon Business Council is publishing a content series spotlighting winners of XPRIZE Carbon Removal, a $100 million prize for removals companies. 

As a member of the Carbon Business Council, UNDO exemplifies the innovation the carbon removal field needs to thrive. In this Q&A, UNDO’s CEO & Founder Jim Mann reflects on the recent win, shares how they’re scaling responsibly, and offers a glimpse into how gigatonne-scale removal can boost local economies.

UNDO is one of many Carbon Business Council members leading the charge on carbon removal—and demonstrating what it looks like in practice. Explore the 100+ member companies driving economic growth around the world. The Carbon Business Council is publishing a content series spotlighting winners of XPRIZE Carbon Removal, a $100 million prize for removals companies.

In this Q&A, Diana Philip, Vice President Community Relations at Planetary discusses how they're scaling ocean-based carbon removal through robust monitoring, partnerships with Indigenous groups, ecosystem stewardship, and close collaboration with communities near their project sites.

Planetary is one of many Carbon Business Council members leading the charge on carbon removal—and demonstrating what it looks like in practice. Explore the 100+ member companies driving economic growth around the world. The Carbon Business Council is publishing a content series spotlighting winners of XPRIZE Carbon Removal, a $100 million prize for removals companies.

The Science Based Targets initiative (SBTi) recently released an initial draft of its revised Corporate Net‑Zero Standard V2. Once operational this standard will provide guidance for companies around the world to set robust and credible net-zero targets. As of April 2025, more than 10,000 businesses have validated targets or are committed to setting targets with the SBTi.

Now open for public consultation, the draft invites input from all stakeholders—including those in the carbon removal community. To unpack the technical details, our Director of Communications, Sasha Chebil, sat down with Kyra Power, North America Engagement Manager at SBTi, where she supports the evolution and adoption of SBTi standards and guidance. During a live Q&A with Carbon Business Council members, they discussed what the proposals could mean for carbon removal providers and tackled the key questions on everyone’s mind.

Corporations are increasingly committing to carbon dioxide removal (CDR) as a key part of their climate strategies, alongside cutting emissions. South Pole, a Cornerstone Member of the Carbon Business Council, helps companies develop and invest in climate strategies, and they recently welcomed Mizuho as the newest buyer in theNextGen CDR portfolio — a joint venture with Mitsubishi Corporation, working to accelerate carbon removal by pooling corporate demand through long-term purchase agreements. Mizuho’s participation marks a major step for financial sector engagement in carbon removals and signals growing momentum in the Asia-Pacific region.

In this post, we dive into the current state of the carbon removal market, key trends driving growth, and the importance of collaboration in scaling these solutions. Learn more from Megan Kemp, a leader in carbon removal, and the Global Head of Strategy at South Pole.

ClimeFi- the leading portfolio manager specializing in permanent carbon dioxide removal (CDR) assets- has joined the Carbon Business Council (CO2BC) as a Cornerstone Member. The CO2BC is a coalition of over 100 companies and organizations committed to scaling carbon removal, collectively representing organizations with assets valued at over $16.5 billion.

The Carbon Business Council published the Carbon Removal Policy Guide: FAQs & Resources for Policymakers. Our coalition provides carbon removal FAQs for policymakers and related resources about scaling removals to become a trillion dollar market. Carbon removal is creating jobs and benefitting communities throughout the U.S. today.

Carbon removal has a new international standard ahead of COP29. The Article 6.4 Supervisory Body, part of the United Nations Framework Convention on Climate Change, finalized requirements for activities involving carbon removal under the Article 6.4 Mechanism. The carbon removal definition used in the international standard aligns with the UN’s Intergovernmental Panel on Climate Change (IPCC) definition that the Carbon Business Council called for.

The Carbon Business Development Council and the Carbon Business Council (CO2BC) have released “Utilities and Carbon Removal: A Gigaton Scale Opportunity.” The report highlights how utilities can not only provide essential support for the carbon removal industry to grow, but also how removals offer substantial benefits to utilities, making them a smart investment. The report is made possible by support from Breakthrough Energy. 

The U.S. Department of Energy announced the awardees for the first phase of the Commercial Carbon Dioxide Removal (CDR) Purchase Pilot Prize today, marking an important initial milestone for the Department’s historic CDR procurement program. Earlier today, the U.S. federal government also released principles for high-integrity voluntary carbon markets. The Carbon Business Council, a nonprofit trade association of more than 100 carbon management companies, has issued the following statement in response.

The Carbon Herald, the leading independent media platform covering the global carbon management industry, announced plans today to combine forces with the Carbon Business Council (CO2BC), the carbon removal and management industry’s nonprofit trade association representing more than 100 companies across six continents with more than $16.5 billion dollars in combined assets. The strategic partnership equips the Carbon Herald with an expanded audience, access to market insights, and new platforms to amplify sponsorships. The Carbon Herald grew by more than 200% in 2023 and has an audience of more than 315,000 top-tier carbon management professionals.

The Voluntary Carbon Market (VCM) is one of the few funding tools currently available to support the carbon removal sector. Governments around the world are working to create enabling policies for carbon removal to scale, and part of these policies focus on ensuring that carbon removal has efficacy and is working properly. Below, the Negative Emissions Platform and the Carbon Business Council summarize the latest developments in the European Union (EU) and the United States (US) on creating a robust removals market built upon trust.

Carbon removal took major steps forward in 2023, positioning 2024 to be another year of significant growth. Countries from around the world affirmed the need for carbon removal to meet the goals of the Paris Agreement at COP28. Key highlights from 2023 are summarized below in four categories and more growth in each of these areas is expected in 2024: 1) innovation from startups, 2) private sector investment, 3) enabling policies, and 4) responsible deployment. We dive into these pillars below with a lookback on 2023 and what’s ahead for 2024.

The Carbon Business Council’s summarizes our key highlights from 2023 and we look forward to building on this momentum as we head into 2024. Driven by our belief that a rising tide raises all ships as we work collaboratively to make a gigaton-scale climate impact, CO2BC grew to more than 100 companies this year. Our coalition is strengthened by more than 20 observing organizations, including leading nonprofits, investors, and more.