A $10.7 billion carbon removal jump start
The nonprofit Energy Futures Initiative — led by former Energy Secretary Ernest Moniz — released a proposed 10-year, $10.7 billion plan for how federal agencies can spur large-scale use of tech that pulls CO2 from the atmosphere.
Why it matters: Carbon removal, or negative emissions, is getting more attention as the window is quickly closing for CO2 cuts steep enough to avoid high warming levels.
- "[A]chieving global net-zero emissions is simply not credible without major carbon-negative contributions at considerable scale," the report notes.
- It floats a multi-agency research, development and demonstration pathway aimed at bringing the technologies to "commercial readiness."
Quick take: This kind of proposal could inform a future White House and Congress, especially because there will be intense pressure for new climate steps if a Democrat wins the presidency next year.
The big picture: The 10-agency plan would explore a suite of methods, including direct air capture, soil and forestry techniques, and ocean absorption methods. It states...
"[Carbon dioxide removal] provides optionality and flexibility to compensate for difficult-to-decarbonize sectors and can reduce atmospheric CO2 concentrations from past emissions."
Go deeper: Carbon removal tech is having a moment