The podcast discusses carbon removal as a critical tool in reducing CO2 concentrations, challenges in commercializing CDR technology, sustainable aviation fuel, implications for climate policy, virtual Power Purchase Agreements, and the race to cool the planet.
01:12:41
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Scaling up carbon dioxide removal (CDR) requires significant investment and future markets and advanced market commitments could drive growth and investment in CDR technologies.
Establishing advanced carbon removal markets involves addressing challenges such as pricing, regulatory frameworks, and fairness in cost distribution while fostering innovation and cost-effective decarbonization.
Advanced market commitments, similar to virtual power purchase agreements (PPAs), can attract financing and enable the scaling up of CDR infrastructure, but careful design is necessary to align with regulatory frameworks and long-term climate goals.
Deep dives
Carbon Dioxide Removal: Scaling Up and Future Markets
Scaling up carbon dioxide removal (CDR) to meet the needs of industries like airlines is a complex challenge. While the cost of CDR technologies is decreasing, it is still a significant investment. Some projects, such as the one at the King Rash site, have plans to remove 30 million tons of CO2 per year. However, it remains uncertain how quickly this scaling up can occur. Future markets and advanced market commitments could play a role in driving investment and supporting the growth of CDR. These commitments would involve companies paying for the removal of carbon in the future, potentially encouraging the development and commercialization of CDR technologies.
Policy Implications of Advanced Carbon Removal Markets
The establishment of advanced carbon removal markets is not without challenges. Issues such as pricing, regulatory frameworks, and the establishment of trustworthy protocols need to be addressed. It is crucial to strike a balance between incentivizing investment in CDR technologies and ensuring the credibility of the market. Additionally, fairness in the distribution of costs and benefits must be considered, particularly with regard to historical emissions and the responsibility of different regions or industries. Policy frameworks should address these challenges while fostering innovation and cost-effective decarbonization.
The Role of Advanced Market Commitments
Advanced market commitments, similar to virtual power purchase agreements (PPAs) in the renewable energy sector, have the potential to accelerate the deployment of carbon removal technologies. These commitments involve companies making long-term purchase agreements to support the development of CDR projects. By providing a stable revenue stream, advanced market commitments can attract financing and enable the scaling up of CDR infrastructure. However, careful consideration must be given to the design of such commitments to ensure they align with regulatory frameworks and long-term climate goals.
Carbon removal technologies and cost reduction
The podcast episode discusses the importance of developing carbon removal technologies, highlighting the potential of direct air capture (DAC) and ocean alkalinity enhancement. While DAC is seen as high-cost technology, there is optimism that advancements and economies of scale could bring down costs in the future. Ocean alkalinity enhancement, on the other hand, offers potential for low-cost carbon removal. The podcast emphasizes the need for both technological innovation and policy interventions to drive the deployment of these carbon removal technologies.
Challenges in global climate negotiations and funding
The episode explores the challenges of global climate negotiations and funding carbon removal initiatives. It highlights the fairness dilemma of accounting for countries' past emissions and the difficulty of achieving global consensus. Additionally, the podcast points out the importance of creating funding mechanisms to support carbon removal efforts. It discusses the role of governments, investors, and consumers in financing the energy transition and emphasizes the need for collaboration and social movements to drive policy change and secure funding for carbon removal initiatives.
We are excited to bring you a special live taping of Energy vs Climate from November 22, 2023 at the Ampersand in Calgary.
Energy vs Carbon Removal is a dive deep into this still relatively new climate mitigation pathway. The IPCC and other bodies increasingly view Carbon Dioxide Removal (CDR) as a critical tool to reduce CO2 concentrations in the atmosphere and bring warming back down to 1.5C by century’s end.
It seems like new carbon removal start-ups are springing up weekly. But the barriers to commercializing CDR tech remain daunting. Will CDR live up to its hype or fail to launch?
EvC partnered with carbonNEXT’s series Carbon Talks for this live show.
