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INTRODUCTION 10 THE OPPORTUNITY Despite the chorus of scien- tists calling for urgent action to develop carbon removal solu- tions, governments and corpo- rations alike have yet to start investing significant amounts into research, development, and demonstration (RD&D) for carbon removal solutions. In addition, existing markets and policies do not create a strong demand for carbon-re- moving products and services. The present inaction around carbon removal creates an enormous opportunity for philanthropies to kick-start the development of the field. In the past, philanthropies have succeeded at catalyzing public- and private-sector support for important, off-the-radar social and environmental issues — exactly what the carbon remov- al field needs today. Present inaction around carbon removal creates an enormous opportu- nity for philanthropies to kick-start the development of the field This report aims to help: 1) Philanthropic organizations understand a) the role that car- bon removal can play in their climate change grant-making portfolio, and b) what types of grants can generate the highest impact in the carbon removal field. 2) NGOs, startups, and ac- ademic groups related to carbon removal understand a) how philanthropies are think- ing about carbon removal to- day, and b) where philanthrop- ic funding opportunities are likely to lie in the near future. Corporations and gov- 3) ernment agencies identify opportunities for philanthropic partnerships around carbon removal. Pictured: Increasing forest stocks through reforestation can sequester and store large amounts of carbon. Pictured: Carbon Engineering Direct Air Capture plant Source: Carbon EngineeringPDF Image | Philanthropy Final Report
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