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2 COMMUNICATING THE VALUE OF CO2 EXECUTIVE SUMMARY There is a growing area of innovation in which waste CO2 is captured and used to produce valuable materials and products. This space is confusing to outsiders, and even to some insiders. Understanding the perceptions and messaging in this space will make it possible to improve communications, rally support, and grow the community. To that end, The NRG COSIA Carbon XPRIZE, The Circular Carbon Network, Carbon180, and CO2 Value Europe launched a survey on the terminology, messaging, perceptions, challenges, and opportunities of this space. This report summarizes the most salient results of the survey, including raw data, key takeaways, and analysis. Below is a summary of the high-level results: 1. Terminology: “Carbon Capture & Utilization (CCU),” “CO2-based Products,” and “Carbon Utilization” were identified as the most popular terms by respondents, as measured by net favorability (favorable minus unfavorable reviews). 2. Perceptions: Perceptions of this space are trending upward. Most respondents felt very positively about this space. 3. Messaging: Messages that focus on either “climate change” or “economic opportunity” were both viewed positively, the latter more than the former. Many commentators argued that both messages should be emphasized simultaneously. 4. Promising Markets: Markets with the clearest short-term and long-term potential are considered to be construction materials and chemicals. 5. Geographic Regions: Europe is perceived to be the most active region in this space to date, with North America a close second; the U.S. and Canada are perceived to have the most activity on a country-by-country basis. 6. Unlocking Innovation: Respondents overwhelmingly said that policy was the key dimension to address in order to unlock more innovation and commercialization in the sector, and that governments and policymakers were the most critical audiences needing to be engaged. Entrepreneurs also ranked capital as a key priority. 7. Opportunities: The most exciting aspects of the sector were perceived to be the sector’s potential to mitigate climate change, and the business opportunity. 8. Challenges: Economic feasibility ranked high as a major hurdle, along with technical feasibility, engineering feasibility, and timeframe for impact. 9. Ranking Support for This Space: Respondents felt that public and private support should focus on renewable energy over the next 10 years. They felt that the conversion of CO2 into products should share second priority, along with energy storage and efficiency. This suggests that CO2 conversion can be considered a complement to renewables, not a competitor.PDF Image | Xprize Carbon Communicating Value CO2
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