Hey, thanks for your comment, but allow us to jump in here quickly.
We don't want to avoid emission reduction, quite the contrary: we always preach "reduction" first, "removal" second.
DAC+S goes beyond reducing emissions because it allows to remove residual and historic CO2 emissions that are already in the atmosphere, which produces negative emissions.
Additionally, together with our CO₂ storage partner Carbfix we just developed the world's first full-chain certification methodology dedicated to carbon dioxide removal via direct air capture and underground mineralization storage. This methodology has been validated by the independent quality and assurance leader DNV (read more here: https://climeworks.com/news/certification-methodology-for-permanent-carbon-removal.
But just so we're all on the same page: one measure alone will not be sufficient to mitigate climate change, we need all solutions working together. We need to do everything we can to reduce emissions, and on top of that actively remove carbon dioxide from the atmosphere.
We're at a point where reduction is not enough anymore. We need to remove emissions as well.
To be specific: The United Nations body for assessing the science related to climate change (IPCC) says the use of carbon removal technologies is already “unavoidable” if we want to meet our climate goals, and that by 2050 we’ll need to remove and store 5-16 billion tons per year.
Companies that produce technologies to remove or reduce carbon emissions are “poised for strong continued growth,” reaching an expected value of $1.4 trillion by 2027, according to new market research.
PitchBook predicts that the emerging sector will enjoy an 8.8 percent growth rate over the next five years, “thanks to increasing global focus on aggressive emissions targets and consumer interest in emissions reduction.” That rate could also increase if there were “dramatic regulatory change or technological innovation” during that time, the report for investors said.
climeworks OP t1_irs01s7 wrote
Reply to comment by wyl1e in The emerging climate tech sector will enjoy an 8.8 % growth rate over the next five years: tech companies that remove/reduce CO₂ emissions are “poised for strong continued growth,” reaching an expected value of $1.4tn by 2027 by climeworks
Hey, thanks for your comment, but allow us to jump in here quickly.
We don't want to avoid emission reduction, quite the contrary: we always preach "reduction" first, "removal" second.
DAC+S goes beyond reducing emissions because it allows to remove residual and historic CO2 emissions that are already in the atmosphere, which produces negative emissions.
Unfortunately the United Nations body for assessing the science related to climate change (IPCC) says the use of carbon removal technologies is already “unavoidable” if we want to meet our climate goals, and that by 2050 we’ll need to remove and store 5-16 billion tons per year.
Read more here:
https://www.technologyreview.com/2022/07/05/1055322/we-need-to-draw-down-carbon-not-just-stop-emitting-it/
https://time.com/6197651/carbon-credits-fight-climate-change/