SINGAPORE, June 6, 2024 – Governments worldwide must significantly increase tree planting and deploy advanced technologies to quadruple the amount of carbon dioxide removed annually from the atmosphere to achieve global climate goals, according to a report published on Wednesday by a team of researchers.
The report, authored by over 50 international experts, highlights the necessity of “Carbon Dioxide Removal” (CDR) — a collection of methods aimed at sequestering CO2 already present in the atmosphere. These methods range from traditional approaches like reforestation to innovative solutions such as biofuels, ocean algae cultivation, and atmospheric CO2 filters.
Currently, CDR processes remove approximately 2 billion metric tons of CO2 from the atmosphere each year. However, to keep global temperature increases below the critical 1.5 degrees Celsius threshold, this figure needs to rise to between 7 and 9 billion tons, the researchers state.
“Global net greenhouse gas emissions were about 55 billion tonnes per year in 2022, and emissions accumulate in the atmosphere, so every year, every action counts,” said Gregory Nemet, a professor at the University of Wisconsin-Madison and co-author of the annual State of Carbon Dioxide Removal report.
The authors call for new policies to stimulate demand for CDR technologies, noting a decline in funding since 2020. Last year, investments in new CDR startups totaled $856 million, representing just 1% of total climate tech spending.
“We see quite a few policies supporting the technology directly,” said Nemet. “But what we’re really missing so far are government-induced markets and demand for carbon dioxide removal.”
The report emphasizes the need for standardized protocols to measure, report, and verify CO2 sequestration in CDR projects, especially those reliant on carbon market funding.
The latest assessment by the Intergovernmental Panel on Climate Change recognizes CDR’s role in achieving climate goals but warns of potential risks associated with large-scale deployment of untested methods, which could impact biodiversity, food, and water security.
“Nothing comes for free,” Nemet stated, acknowledging that CDR is not a cure-all. “Regardless of how much carbon dioxide removal we do, we’ll still need to rapidly reduce emissions from fossil fuels and halt deforestation.”
The 2024 edition of “The State of Carbon Dioxide Removal” provides a comprehensive global assessment of CDR methods. Led by experts such as Oliver Geden from the German Institute for International and Security Affairs, Matthew J. Gidden from the International Institute for Applied Systems Analysis, and Stephen M. Smith from the University of Oxford, the report offers critical insights into the current state, challenges, and future directions of CDR technologies.
The report underscores that alongside reducing emissions, CDR is crucial for mitigating climate change. As greenhouse gas emissions continue to rise, the urgency for effective emission reduction and CDR deployment becomes more pressing.
Currently, about 2 gigatonnes of CO₂ per year are removed through conventional methods, mainly afforestation and reforestation. However, novel CDR methods such as Bioenergy with Carbon Capture and Storage (BECCS) and Direct Air Carbon Capture and Storage (DACCS) are gaining traction and showing rapid growth.
The report calls for increased innovative activities across the CDR landscape. While research grants, scientific publications, and patent activities indicate steady growth, inventive activity has slightly declined since 2010. Nonetheless, investment in CDR startups and major demonstration programs, especially in the US, indicate robust innovation momentum.
Effective policymaking is crucial for fostering CDR innovation and scaling. The report points out that while technology-push policies are in place, demand-pull policies are underdeveloped. Comprehensive policies creating demand for carbon removals, including robust Monitoring, Reporting, and Verification (MRV) systems, are essential for transparency and credibility in CDR activities.
Public awareness and perception of CDR are also vital. Increased media coverage and social platform discussions indicate growing public interest. Engaging diverse publics and developing best communication practices are key for ethical and effective CDR deployment.
The report identifies a gap between the CDR levels required to meet the Paris Agreement’s temperature goals and current government proposals. This “CDR gap” necessitates more ambitious national commitments and rapid scaling of both conventional and novel CDR methods. Integrating sustainability considerations into CDR policies and ongoing efforts to track and improve the state of CDR globally are crucial.
The 2024 edition of “The State of Carbon Dioxide Removal” is a critical resource for understanding the complexities and necessities of CDR in combating climate change. It calls for concerted efforts across research, innovation, policy, and public engagement to scale up CDR to levels required for meeting global climate goals.