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INTRODUCTION 09 Pictured: Carbon removal has the ability to create carbon-negative energy systems. For this reason, scientists expect carbon removal solu- tions to play a large role in the fight against climate change, as outlined in the latest Intergov- ernmental Panel on Climate Change (IPCC) Assessment Report. In the report, 87 percent of modeling scenarios consistent with 2°C of warm- ing involve large-scale deploy- ments of carbon removal that, when coupled with aggressive emissions reductions, result in net-negative global emissions by the end of the 21st century. The scale and speed with which experts expect carbon remov- al solutions to be deployed is dramatic. Some IPCC scenarios show new capacity additions of negative-emission power 87% of IPCC modeling scenarios consistent with 2°C of warming involve large scale deploy- ments of carbon removal plants on the order of 25 gigawatts (GW) (equivalent to about 50 average-sized coal power plants) annually as early as 2040, despite the fact that no such negative-emissions power plants are operational today. As a point of reference, the “solar miracle” (the installation of 25 GW of solar projects in a given year) took over 30 years from the installation of the first solar photovoltaic (PV) project. Despite their clear value, car- bon removal solutions remain significantly underdeveloped today. Uncertainties around the costs, reliability, sustainability, and/or social acceptability of carbon removal solutions have stymied the investments and dampened the support needed to bring these emerging tech- nologies to market. Delaying action to address these chal- lenges any longer will signifi- cantly jeopardize our ability to put the brakes on runaway climate change.PDF Image | Philanthropy Final Report
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