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Introduction Interest in technological approaches to CDR among people concerned about climate change and those who want to make money from climate solutions is skyrocketing. A number of new companies have moved forward rapidly with CDR technologies to help meet global climate policy goals, including the benchmark set in the 2015 Paris Agreement, which aims to keep global warming below 2 ̊C. Yet, uncertainty continues about how much of a role technological CDR will play in helping to solve climate change in the medium to long term. It is clear that CDR technological advances are crucial to reaching the United States’ and the world’s climate goals, but research, discussions and investment are still at early stages. Despite progress in CDR technologies and their long-term promise, investor appetite remains cautious due to a variety of risks, and as a result, companies have yet to scale up. Given the nascent state of the industry and the urgency to decarbonize in the next few decades, policymakers should help accelerate momentum on technological CDR to fully bring it into the mainstream. Public investment is needed not only to mobilize private investment, but also to ensure the data generated from pilot deployments are publicly available to researchers, fostering further innovation. What Is Technological Carbon Dioxide Removal? As the climate crisis worsens, scientists, engineers and technology companies are looking toward innovation to mitigate the impacts of climate change. Removing carbon directly from the atmosphere, sometimes referred to as negative emissions or carbon dioxide removal (CDR), involves a range of technologies. For the purposes of this report, technological CDR includes advanced technological innovations to remove CO2 emissions from the atmosphere. These technologies include but are not necessarily limited to: • Bioenergy with carbon capture and storage (BECCS) • Biochar • Ocean iron fertilization • Direct air carbon capture and storage (DACCS) or utilization • Enhanced weathering and ocean alkalinization See Figure 1 below for how the technologies relate to other options to remove or capture carbon. Direct air capture involves taking CO2 out of ambient air. BECCS is the process of transforming trees and crops into power or fuel by essentially retaining CO2 embodied in biomass that previously took CO2 out of the atmosphere. Biochar, developed from burning biomass and using it to improve soil quality, sequesters CO2 in the soil. Enhanced weathering and ocean alkalinization involve the process of dispersing reactive minerals on land or the ocean to absorb CO2. 6PDF Image | Carbon Removal Final Report
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