In this manuscript, we describe the synthesis of low molar mass polycarbonate diols by acid cleavage of labile acetal linkages included in high molar mass poly(ether-co-carbonate-co-acetal) terpolymers. These copolymers were prepared by terpolymerization of propylene oxide (PO) with o-phthalaldehyde (OPA) and carbon dioxide (CO2), using triethyl borane (TEB) as activator and an onium salt as initiator. The advantage of this strategy of synthesis of poly(propylene carbonate) diols (PPC-diols) lies in the minute amounts of TEB and initiator required. Moreover, OPA could be isolated through post-hydrolysis of the terpolymers and recycled for subsequent use. We also demonstrated that this strategy works for the synthesis of low molar mass poly(ethylene carbonate) diols (PEC-diols). The structural integrity of the terpolymers before and after acid treatment, the characterization of low molar mass PPC-diols, and recycling process of OPA were carried out by 1H NMR spectroscopy, gel permeation chromatography, and matrix-assisted laser desorption ionization time of flight (MALDI-TOF) MS.