Projects in development will remove CO2 from the climate that needs to be removed by 2025 to meet the global climate target and stop catastrophic warnings, a report said on Wednesday. More than 190 countries have signed the agreement designed to limit global warming to 1.5 degrees Celsius. Still, even with pledges of significant reductions, many scientists believe removal technologies will need to meet the goal.

“Without action to deliver 1 Gigatonne of negative emissions globally by 2025, keeping global warming within the Paris Agreement target of 1.5 degrees Celsius cannot be achieved,” said the report by the Coalition for Negative Emissions (CNE) and consultancy firm McKinsey. Countries will need to remove a billion tonnes of CO2 from the atmosphere by 2025 if the Paris target is to be met, and more than one billion tonnes annually after that.

• India sees minimal impact from US trade policies, but risks persist: UBI Report
• Perplexity in Early Funding Talks at $18 Billion Valuation
• Toyota to Launch First India R&D Hub, Plans 1,000 Engineers & EV Expansion by 2027
• Trump Announces Upcoming US-Ukraine Minerals Deal
• Mazagon Dock, Goa Tie Up for AI-Based Disaster Management; Shares Fall 1%

The current pipeline of projects in development could remove only around 150 million tonnes of CO2 by 2025, well short of what’s needed, the report said. Currently, removal technology is expensive, and while many countries worldwide have initiatives in place to put a price on CO2 emissions, the prices are far too low to incentivise new projects. The report said scaling up the technology would lead to lower costs, with a likely average cost of around $41-138 per tonne of CO2.