The following submission statement was provided by /u/climeworks:

We're at a point where reduction is not enough anymore. We need to remove emissions as well.

To be specific: The United Nations body for assessing the science related to climate change (IPCC) says the use of carbon removal technologies is already “unavoidable” if we want to meet our climate goals, and that by 2050 we’ll need to remove and store 5-16 billion tons per year.

Companies that produce technologies to remove or reduce carbon emissions are “poised for strong continued growth,” reaching an expected value of $1.4 trillion by 2027, according to new market research.

PitchBook predicts that the emerging sector will enjoy an 8.8 percent growth rate over the next five years, “thanks to increasing global focus on aggressive emissions targets and consumer interest in emissions reduction.” That rate could also increase if there were “dramatic regulatory change or technological innovation” during that time, the report for investors said.

Please reply to OP's comment here: https://old.reddit.com/r/Futurology/comments/y0er0z/the_emerging_climate_tech_sector_will_enjoy_an_88/irrb8k7/