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Nasdaq Targets Boom in Market for Carbon Removal in Coming Years

  • Carbon removal seen reaching tens of millions of tons by 2027
  • Firm starts first price index this year, expects regulation
Pedestrians in front of the Nasdaq MarketSite in the Times Square neighborhood of New York.

Pedestrians in front of the Nasdaq MarketSite in the Times Square neighborhood of New York.

Photographer: Michael Nagle/Bloomberg

The market for removing carbon from the atmosphere to limit global warming will take off within five years as industries rush to cause less pollution and the technology improves, according to a Nasdaq Inc. executive.

At the moment, the amount of carbon removed globally from the atmosphere and put into storage is only around a couple of hundred thousand tons a year, but may reach tens of millions of tons by 2025-2027 and then head into gigatons by 2040, said Fredrik Ekstrom, who heads ESG at Nasdaq European markets.