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14 December 2023 / Article
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Our research suggests it would be more cost effective to reduce emissions first before the expensive step of removing carbon dioxide directly from the air.
Projections by the Intergovernmental Panel on Climate Change and the International Energy Agency assume that carbon dioxide removal will be critical in meeting the Paris Agreement’s target of keeping global average temperature increases to significantly under 2 degrees centigrade above preindustrial levels. But most carbon dioxide removal projects are still expensive, don’t operate at scale, and might require significant government subsidies to be economically viable.
[1] Akshat Rathi, Natasha White, and Demetrios Pogkas, Junk Carbon Offsets Are What Make These Big Companies ‘Carbon Neutral’, Bloomberg, November 21, 2022.
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