Between 2020 and 2023, the European Union spent 613 million euros directly supporting research and development (RD&I) across carbon dioxide removal (CDR) methods. This is significantly less than the 1.86 billion euros the United States spent. It is estimated that the EU and U.S. will need to contribute between 2.9 and 5.9 billion euros over the next 15 to 20 years, based on global funding needs.
Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements
(in billion euros)
Characteristic
Current spend
Funding needs (low range)
Funding needs (high range)
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Carbon Gap. (March 17, 2024). Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements (in billion euros) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/
Carbon Gap. "Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements (in billion euros)." Chart. March 17, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/
Carbon Gap. (2024). Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements (in billion euros). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/
Carbon Gap. "Funding for Rd&i Relevant to Carbon Dioxide Removal (Cdr) in The European Union and United States from 2020 to 2023, and Estimated Future Requirements (in Billion Euros)." Statista, Statista Inc., 17 Mar 2024, https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/
Carbon Gap, Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements (in billion euros) Statista, https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/ (last visited September 01, 2024)
Funding for RD&I relevant to Carbon Dioxide Removal (CDR) in the European Union and United States from 2020 to 2023, and estimated future requirements (in billion euros) [Graph], Carbon Gap, March 17, 2024. [Online]. Available: https://www.statista.com/statistics/1489014/us-and-eu-carbon-removal-funding/