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BEYOND CARBON NEUTRALITY 58 For one, providing funding for technology roadmaps can help industry and govern- ment leaders understand where to place investment and legislative priority. Carbon removal solutions will likely require a num- ber of stepping stone markets to reach commercial maturity, and the funding of independent assessments of the specif- ic RD&D needs of the carbon removal field can help unlock significant funding for commercialization efforts. It is also important to couple this technical analy- sis with education and outreach aimed at policymakers and industry executives. Only through clear communication about the importance of such RD&D spending can technical analysis translate into industry and policy action, in turn unlocking orders of magnitude more funding for RD&D than philanthropy could have supported themselves. As an example, philanthropies have collab- orated with the U.S. DOE on addressing early-stage finance gaps and supporting in- novative energy policies over the past few years. Through this collaboration, philan- thropies and several federal agencies have worked to release the “Guide to Federal Financing for Energy Efficiency and Clean Energy Deployment”, helping local and state governments, along with their private sector partners, deploy clean energy sys- tems across the country.44 Philanthropies can catalyze the development of the carbon removal field DISRUPTIVE GRANT MAKING STRATEGIES: Foundations can pursue alternative grant-making approaches by directly funding research and technology innovation. Di- rect investments in science and technology research targeted to address “bottleneck” uncertainties can unlock additional funding by providing evidence of the sustainable scale potential of carbon removal solutions. Philanthropies can avoid large expenditures on direct research and demonstrations by partnering with existing projects that have been funded for non-climate reasons to fund science that supports more effective lifecycle carbon accounting and through public-pri- vate partnerships for technology RD&D ini- tiatives. Grants going to support innovation through contests like those hosted by the Virgin Group and the XPRIZE Foundation, as well as climate incubators such as the EU’s Climate Launchpad contest, can also provide high-leverage incentives for entrepreneurs to focus their efforts on developing carbon removal products.PDF Image | Philanthropy Final Report
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