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10 COMMUNICATING THE VALUE OF CO2 RESULTS AND DISCUSSION • The majority of respondents (60%) said they felt very positively about this space, while most of the reminder said they felt only “somewhat positive” (Figure 8). • Fifty percent (50%) of respondents said their peers’ perceptions of this space is “somewhat positive”, 23% said “neutral”, and 15% said “very positive”. • When asked how the sector’s favorability was trending, 83% answered “trending up” (9%: “about the same”, 7%: not sure, 2%: “trending down”). Even 62% of those who identify as “interested and engaged in minor ways” said it is trending upward, which suggests that even outsiders are seeing an increase in general perception of the sector. Because there is more and more evidence that this can become a viable business (i.e., cost competitive). It is also a novel and market-based solution to climate change, which means that it has more appeal to a business and financial audience. Positive perceptions of this space are likely due to some or all of the following factors: • The new $85 per ton U.S. federal tax credit (“45Q”) for capturing and utilizing CO2 that will support the development of new large commercial projects • New interest in the carbon space from groups such as Breakthrough Energy Ventures, Oil and Gas Climate Initiative, and Y-Combinator • The formation of new accelerators and industry associations such as Carbontech Labs and CO2 Value Europe • Corporate engagement efforts being driven by Carbon180, Volans, CO2 Value Europe, the Circular Carbon Network , and Lawrence Livermore National Laboratory • Demonstrations of real advances in technology by the Carbon XPRIZE teams and other growing companies • The increasing urgency of climate change, and public awareness of that urgency • Increasing understanding of carbon removal and utilization • Increasing commercial interest/activity from entrepreneurs, investors, and corporations • The development of the Carbon XPRIZE and increasing interest in economically sustainable solutions • The thirst for something new and/or less financially risky • Appetite for smaller scale projects and distributed solutions to CO2 emission mitigationPDF Image | Xprize Carbon Communicating Value CO2
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