From policy to pilots: Apac's growing influence in carbon removal
Carbon dioxide removal (CDR) – a diverse set of pathways that pull carbon from the atmosphere – is gaining traction as a critical climate tool alongside reduction of emissions. But beyond environmental benefits, it's also emerging as an economic opportunity: creating jobs, attracting investment, and delivering community-level impact.
As carbon removal moves from research to real-world deployment, the Asia-Pacific (Apac) region has the opportunity to lead. Momentum in the region is building through bold corporate commitments, enabling policies, and partnerships.
In just the past few months, India's Mati Carbon secured US$50 million through the XPRIZE Carbon Removal; Japan's Mizuho joined the NextGen CDR portfolio to aggregate long-term demand; Japanese trading company Sojitz Corporation deployed capital into CDR markets in the US; and Mitsui O.S.K. Lines signed a deal with Climeworks to scale removals.
Events like Ecosperity Week and the inaugural APAC CDR Summit in Singapore further underscore the rising regional focus. As more companies and governments make early bets on CDR, Apac is positioned to shape how the global carbon removal market evolves.
With diverse ecosystems, corporate leadership, and supportive policy frameworks, Apac has the building blocks needed to lead. By coordinating across sectors and borders, the region can not only scale climate solutions but also define credible, investable markets that generate long-term economic value.
Corporate demand is catalysing market confidence
A recent Boston Consulting Group report found that Asia is well-positioned to lead carbon credit origination – particularly for nature- and bio-based pathways – due to its ecological diversity and availability of agricultural by-products.
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This makes the region attractive to companies looking to invest in high-quality carbon credits, and is driving the early demand needed to scale CDR.
An increasing number of corporations in Apac are stepping up. Japan's Mizuho recently joined the NextGen CDR portfolio, developed by South Pole and Mitsubishi Corporation, to pool long-term demand and catalyse investment.
Mitsui O.S.K. Lines, a leading Japanese shipping firm, was an early participant in NextGen and has since purchased 55,000 tons of carbon removal, including a recent agreement with Climeworks to remove 13,400 tons of CO2 by 2030.
As South Pole recently shared: 'Companies see value in securing high-quality removal credits now – not only to hedge against future compliance costs, but also to demonstrate environmental leadership.'
This wave of corporate activity is helping position Apac as a proving ground for climate credibility and commercial viability.
India's supply engine is also gaining traction. CDR startups like Varaha, Alt Carbon, and Mati Carbon have secured pilot deals with buyers like Google, Frontier, and Mitsubishi – evidence that corporates aren't just participating in the CDR market, but actively shaping it.
Mati's recent XPRIZE win will help scale its enhanced rock weathering operations, which store carbon and support farmer livelihoods, an example of carbon removal as a rural economic driver.
Cross-border partnerships are creating a regional ecosystem
As national frameworks take shape, cross-border collaboration is accelerating. In Japan, a consortium including Mitsubishi, ENEOS, and Tokio Marine has teamed up with Canada's MaRS Discovery District to launch a buyer education platform that aims to reduce early market risk and encourage CDR credit purchases.
Japan's Joint Credit Mechanism (JCM) is also advancing international cooperation with countries like India. By allowing Japan to count verified reductions from partner nations toward its own climate goals, JCM is creating incentives that align local development with global impact, and could evolve to accommodate international CDR credits. These efforts help build confidence in the market and expand the economic opportunity across the region.
Regionally tailored Innovation is gaining ground
Rather than taking a one-size-fits-all approach, carbon removal efforts in Apac are tailored to local conditions and resources. In India and Australia, farmers are turning agricultural waste into biochar, a substance that stores carbon, improves soil health, and creates new revenue streams for farmers.
Researchers in South-east Asia, including at Nanyang Technological University, are piloting enhanced rock weathering, to accelerate natural carbon sequestration that happens through rocks.
Singapore and New Zealand are advancing ocean-based solutions through pilot facilities and field trials, while Japan is exploring the role of bioenergy power plants. Direct Air Capture research is also expanding across the region.
To ensure these efforts are credible and transparent, local monitoring, reporting and verification systems are starting to emerge. These tailored approaches are laying the foundation for carbon removal solutions that align with local development goals, support livelihoods, and unlock long-term value.
Apac can help define carbon removal's next chapter
To support and spotlight this regional momentum, the Carbon Business Council and Puro.earth co-hosted the APAC CDR Summit in Singapore – convening government, corporate, and research leaders to elevate credible innovation and accelerate market growth. The goal: build high-integrity CDR markets that are coordinated, transparent, and scalable.
That won't happen on its own. But the early signals from Apac are encouraging. With sustained investment, enabling policy, and deeper cross-sector collaboration, the region can help define what credible, scalable carbon removal looks like – and play a leading role in shaping its global future.
Ben Rubin is executive director, Carbon Business Council, and Alvin Lee is head of supply, Puro.earth
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Business Times
11 hours ago
- Business Times
From policy to pilots: Apac's growing influence in carbon removal
Carbon dioxide removal (CDR) – a diverse set of pathways that pull carbon from the atmosphere – is gaining traction as a critical climate tool alongside reduction of emissions. But beyond environmental benefits, it's also emerging as an economic opportunity: creating jobs, attracting investment, and delivering community-level impact. As carbon removal moves from research to real-world deployment, the Asia-Pacific (Apac) region has the opportunity to lead. Momentum in the region is building through bold corporate commitments, enabling policies, and partnerships. In just the past few months, India's Mati Carbon secured US$50 million through the XPRIZE Carbon Removal; Japan's Mizuho joined the NextGen CDR portfolio to aggregate long-term demand; Japanese trading company Sojitz Corporation deployed capital into CDR markets in the US; and Mitsui O.S.K. Lines signed a deal with Climeworks to scale removals. Events like Ecosperity Week and the inaugural APAC CDR Summit in Singapore further underscore the rising regional focus. As more companies and governments make early bets on CDR, Apac is positioned to shape how the global carbon removal market evolves. With diverse ecosystems, corporate leadership, and supportive policy frameworks, Apac has the building blocks needed to lead. By coordinating across sectors and borders, the region can not only scale climate solutions but also define credible, investable markets that generate long-term economic value. Corporate demand is catalysing market confidence A recent Boston Consulting Group report found that Asia is well-positioned to lead carbon credit origination – particularly for nature- and bio-based pathways – due to its ecological diversity and availability of agricultural by-products. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up This makes the region attractive to companies looking to invest in high-quality carbon credits, and is driving the early demand needed to scale CDR. An increasing number of corporations in Apac are stepping up. Japan's Mizuho recently joined the NextGen CDR portfolio, developed by South Pole and Mitsubishi Corporation, to pool long-term demand and catalyse investment. Mitsui O.S.K. Lines, a leading Japanese shipping firm, was an early participant in NextGen and has since purchased 55,000 tons of carbon removal, including a recent agreement with Climeworks to remove 13,400 tons of CO2 by 2030. As South Pole recently shared: 'Companies see value in securing high-quality removal credits now – not only to hedge against future compliance costs, but also to demonstrate environmental leadership.' This wave of corporate activity is helping position Apac as a proving ground for climate credibility and commercial viability. India's supply engine is also gaining traction. CDR startups like Varaha, Alt Carbon, and Mati Carbon have secured pilot deals with buyers like Google, Frontier, and Mitsubishi – evidence that corporates aren't just participating in the CDR market, but actively shaping it. Mati's recent XPRIZE win will help scale its enhanced rock weathering operations, which store carbon and support farmer livelihoods, an example of carbon removal as a rural economic driver. Cross-border partnerships are creating a regional ecosystem As national frameworks take shape, cross-border collaboration is accelerating. In Japan, a consortium including Mitsubishi, ENEOS, and Tokio Marine has teamed up with Canada's MaRS Discovery District to launch a buyer education platform that aims to reduce early market risk and encourage CDR credit purchases. Japan's Joint Credit Mechanism (JCM) is also advancing international cooperation with countries like India. By allowing Japan to count verified reductions from partner nations toward its own climate goals, JCM is creating incentives that align local development with global impact, and could evolve to accommodate international CDR credits. These efforts help build confidence in the market and expand the economic opportunity across the region. Regionally tailored Innovation is gaining ground Rather than taking a one-size-fits-all approach, carbon removal efforts in Apac are tailored to local conditions and resources. In India and Australia, farmers are turning agricultural waste into biochar, a substance that stores carbon, improves soil health, and creates new revenue streams for farmers. Researchers in South-east Asia, including at Nanyang Technological University, are piloting enhanced rock weathering, to accelerate natural carbon sequestration that happens through rocks. Singapore and New Zealand are advancing ocean-based solutions through pilot facilities and field trials, while Japan is exploring the role of bioenergy power plants. Direct Air Capture research is also expanding across the region. To ensure these efforts are credible and transparent, local monitoring, reporting and verification systems are starting to emerge. These tailored approaches are laying the foundation for carbon removal solutions that align with local development goals, support livelihoods, and unlock long-term value. Apac can help define carbon removal's next chapter To support and spotlight this regional momentum, the Carbon Business Council and co-hosted the APAC CDR Summit in Singapore – convening government, corporate, and research leaders to elevate credible innovation and accelerate market growth. The goal: build high-integrity CDR markets that are coordinated, transparent, and scalable. That won't happen on its own. But the early signals from Apac are encouraging. With sustained investment, enabling policy, and deeper cross-sector collaboration, the region can help define what credible, scalable carbon removal looks like – and play a leading role in shaping its global future. Ben Rubin is executive director, Carbon Business Council, and Alvin Lee is head of supply,
Straits Times
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