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BEYOND CARBON NEUTRALITY 59 3. DEVELOPING APPROPRIATE SHORT-TERM POLICY MECHANISMS In the long run, high carbon prices and/or stringent CO2 emission regulations are likely to support the commercialization and deployment of carbon removal solutions. Without such incentives in the short and midterm, carbon re- moval solutions will need complementary pol- icies to foster their growth and development. Philanthropies can work with experts across sectors to identify the most appropriate policy mechanisms for supporting carbon removal in the future. In particular, the carbon removal field could benefit from foundations helping to break down regulatory barriers that pre- vent the commercialization of carbon removal solutions, creating a level playing field so that new carbon removal technologies can flourish. These policy experts can also help identify the governing structures required to coordinate activity across the wide range of organizations that hold carbon removal potential. MEASURING SUCCESS: In the short term, grant-making efforts around carbon removal can be judged by: • Thenumberofgovernmentsandcompanies that commit to negative emissions targets • The number and strength of regula- tions and policies enacted to specifically increase demand and deployment for carbon removal solutions • The amount of investment in RD&D in carbon removal • The number of carbon removal projects and companies • The number of dialogues/events hosted • The amount and quality of media coverage It is essential for philanthropies to measure the success of their efforts with appropriate metrics tailored to the nascent nature of the carbon removal field. Pictured: Philanthropy can help spur the creation of supportive policy for carbon removal.PDF Image | Philanthropy Final Report
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