Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Annelise Capossela/Axios

Carbon Engineering, a firm looking to commercialize nascent "direct air capture" tech, just unveiled a new retail offering for its services in partnership with the firm BeZero Carbon.

Driving the news: The new service is basically about buying future removal in smaller amounts than the startup has previously offered and packaging them with other removal options via BeZero.

  • Carbon Engineering is planning to build commercial-scale facilities. Ahead of that construction, BeZero has "pre-purchased" removal that it will, in turn, sell to clients, which can also be part of a "basket" of "removal offsets."

Catch up fast: Carbon Engineering opened its doors for removal purchases earlier this year, with inaugural customer Shopify ordering 10,000 tons of CO2 removal.

  • But that service has a minimum purchase of 100 tons. Customers pre-purchasing through BeZero’s platform buy removal amounts of any size, Carbon Engineering tells Axios, which expands the pool of companies and people.

The big picture: It's the latest sign of an expanding suite of ways that businesses — and even individual clients — can purchase services or make investments that, if all goes well, will directly result in the removal of CO2 already in the atmosphere.

Here are some other examples (not a complete list)...

  • May brought the launch of the nonprofit group Climate Vault. It's complicated but involves the purchase of emissions permits from regulated trading markets, which are then monetized to finance removal efforts.
  • The Swiss DAC firm Climeworks launched a retail subscription service in 2019.
  • The startup Nori has launched a soil carbon removal market.
  • Last month Nasdaq took a majority stake in the firm Puro.earth, a business-to-business trading marketplace for carbon removal credits.
  • Elsewhere, the online payments company Stripe last year launched "Stripe Climate," which allows users of its platform to direct some revenues toward companies investing in CO2 removal tech.

Why it matters: There's growing interest in CO2 removal, a basket of tech and methods like direct air capture, afforestation, carbon mineralization and much more.

  • Corporate heavyweights including Amazon, Microsoft, BP, Chevron and Bill Gates' Breakthrough Energy Ventures are investing in various kinds of "negative emissions" startups.
  • It comes at a time when global efforts to cut emissions are nowhere near on the scale needed to meet the goals of the Paris agreement.
  • A major 2018 report by the United Nation's science panel found that pathways to limiting warming to 1.5ºC — the Paris deal's most ambitious goal — rely on varying levels of removal.

Yes, but: Removal doesn't replace the need for steep emissions cuts to meet the Paris Agreement goals, and verification can be a mixed bag too.

  • Also, it's extremely unclear when and to what degree carbon removal will be deployed at a significant scale.
  • Experts warn that potential carbon removal deployment in the future should not be used to delay or weaken emissions mitigation, especially given all the uncertainties.

Go deeper

Future of megacities "hang in the balance" as diplomats prepare for COP26

Still images from an interactive slider comparing Washington Nationals Stadium's future with steep emissions cuts with our current carbon path. Courtesy: Climate Central

Nations’ follow through — or lack thereof — on pledges made at the looming UN climate summit will help determine the long-term fate of tens of millions of people living in coastal megacities threatened by rising seas.

Why it matters: The delayed response of the climate system, with seas that warm and expand slowly and ice sheets that can take centuries to reach equilibrium — long after air temperatures have leveled off, means the stakes of COP26, and government decisions in coming years, are extraordinarily high.

Ben Geman, author of Generate
Oct 13, 2021 - Energy & Environment

Carbon emissions spiking despite clean energy surge

Photo: Joe Sohm/Visions of America/Universal Images Group via Getty Images

This year is bringing the second-largest global carbon emissions jump on record as fossil fuel use rebounds after 2020's pandemic-fueled downturn, a new International Energy Agency report finds.

Why it matters: It shows how, despite surging renewables, the global energy system remains far from an emissions-slashing pathway that achieves Paris agreement goals for limiting global warming.

Updated 1 hour ago - Science

Volcanic eruption in Tonga caused "significant" damage

This satellite image of the eruption on Jan. 15 taken by Himawari-8, a Japanese weather satellite operated by Japan Meteorological Agency and released by National Institute of Information and Communications Technology (NICT). Photo: NICT via AP

Significant damage has been reported in Tonga following an undersea volcanic eruption on Saturday, which covered the Pacific nation in ash and cut off communication lines.

Driving the news: The eruption triggered tsunami warnings across Tonga's islands and in other regions, including the West Coast of the U.S. and New Zealand.