By Ross McKenzie, EVP and Co-Leader at Elimini
The deadline to achieve climate commitments is drawing nearer for many companies, including the thousands that have pledged to reduce emissions in line with the Science Based Targets initiative. As time to achieve these targets grows shorter, many organizations – particularly those in hard-to-abate sectors, like technology and aviation – face persistent challenges, such as rising energy demand and deeply entrenched supply chains, which can hinder progress.
In this context, carbon dioxide removals (CDRs) are emerging as a vital business strategy, offering a lifeline to tackle the emissions that cannot yet be avoided or abated – but, for the industry and buyers, credibility remains a defining challenge. With a maturing market and a wide spectrum of solutions, quality varies, leaving buyers wary of reputational risk or potential wasted investment.
Climate-conscious businesses are ready to move quickly, and rigorous CDR standards will inspire the confidence needed to act now.
Defining a High-Quality CDR
High-quality removals are defined by clear criteria that ensure genuine, lasting climate benefits. For example, the Integrity Council for the Voluntary Carbon Market’s (ICVCM) Core Carbon Principles (CCP) outlines pillars of trustworthy credits, including:
- Governance – Credits require effective oversight, transparency, tracking, and independent verification.
- Emissions Impact – Credits must be additional, permanent, robustly quantified, and not double counted.
- Sustainable Development – Credits should include safeguards and contribute to the net-zero transition.
Elimini has gone a step further by helping to develop a DNV-validated methodology for bioenergy carbon capture and storage (BECCS), which establishes a robust way to quantify the net CDR contribution of BECCS projects. This methodology requires sustainably sourcing biomass, securely and permanently storing carbon dioxide, and avoiding the use of captured CO₂ to enable further fossil fuel recovery. Independent validation and transparent reporting provide additional assurance.
Together, these elements establish whether a removal is truly high integrity – and whether it can credibly support a company’s long-term net-zero strategy.
Denmark: Leading the Way on CDRs
Delivering CDRs at scale, while upholding stringent standards, calls for industry-wide commitment. Denmark has become a model for how to incentivize development with bold investments and diligent oversight.
In 2024, the Danish Energy Agency launched an approximately $4.5 billion CCS fund to support capture, transportation, and storage. To qualify, projects must meet strict quality standards by proving carbon removals are:
- Clearly quantified and proven additional
- Stored securely in geological formations to aid permanence
- Protected by safeguards against environmental or social harm
BioCapture Copenhagen – Elimini’s collaboration with HOFOR, Greater Copenhagen’s public utility – is among the projects advancing under this framework. The partners are exploring the retrofit of a large-scale BECCS facility at the Amagerværket combined heat and power plant – an ambitious project that aims to capture hundreds of thousands of tons of CO₂ annually, while generating high-quality CDR credits alongside renewable heat and electricity.
Beyond Denmark: Building Global Momentum
Across the globe, momentum for engineered removals is accelerating, backed by rapid growth in the voluntary carbon market and strong policy signals. In the U.S., the 45Q tax credit has been upheld; meanwhile, in Europe, the development of the Carbon Removal Certification Framework (CRCF), the potential integration of removals into the EU Emissions Trading System, and exploration of public procurement all point to a system designed to scale projects in line with growing market demand.
BECCS is emerging as a frontrunner with 74 percent of all-time engineered CDRs transacted as of June 2025. These gains are driven by its ability to deliver permanent removals, generate 24/7 renewable power, and demonstrate commercial viability. Early investors recognize that the benefits – from strengthening credibility among climate-conscious stakeholders to accelerating progress toward net-zero goals – are greater than the potential risks. For example, Microsoft has signed a range of carbon removal agreements, including BECCS projects, to support its goal of becoming carbon negative by 2030.
Without continued early investments and corporate commitments today, however, many projects may not be built in time to meet tomorrow’s demand. That’s why Elimini and HOFOR are developing a project focused on delivering verifiable, standards-aligned credits – enabling companies to embed removals into their climate strategies.
Driving Investment and Real Impact with High CDR Standards
High-integrity projects, both in Denmark and around the world, are setting the pace for an engineered CDR market that is credible and scalable. They show that when bold investment is matched with rigorous standards, removals can deliver real climate impact while also serving as a strategic lever that helps companies demonstrate climate leadership and define the next phase of market growth.
Elimini focuses on high-integrity CDRs so that businesses can invest in trustworthy carbon removals to advance climate strategies that withstand stakeholder scrutiny.
The lesson for business is clear: companies that commit early not only secure a climate win, but also help ensure future supply, turning early CDR investment into a lasting competitive advantage.
To learn more about how CDRs – like those from the BioCapture Copenhagen collaboration between Elimini and HOFOR – could help your business, visit elimini.com/amagervaerket.
10/29/25