Carbon removal is the process of capturing and storing carbon dioxide from the atmosphere, either by natural or technological means. Carbon removal is seen as a vital strategy to combat climate change and achieve net-zero emissions by 2050. However, carbon removal is not without challenges, such as high costs, scalability, and environmental impacts. In this article, we will explore how carbon removal can be made more cost-effective and sustainable, based on the latest research and innovations.
One of the main barriers to carbon removal is the price. According to a recent report by the National Academies of Sciences, Engineering, and Medicine, the current cost of carbon removal ranges from $20 to $600 per ton of CO2, depending on the method and location. The report estimates that the US would need to remove 570 million to 1.1 billion tons of CO2 per year by 2050 to meet its climate goals, which would cost between $12 billion and $570 billion annually.
The price of carbon removal is influenced by several factors, such as the availability of land, water, and energy, the technical maturity and efficiency of the methods, the regulatory and policy frameworks, and the demand and incentives for carbon removal products and services. The report suggests that the price of carbon removal could be reduced by improving the performance and scalability of the methods, creating markets and standards for carbon removal, and implementing policies that put a price on carbon emissions.
The Value Of Carbon Removal
Another way to make carbon removal more cost-effective is to increase its value. Carbon removal can create various benefits and co-benefits, such as enhancing soil health, biodiversity, and water quality, producing renewable fuels and materials, and generating jobs and income. These benefits can increase the social and economic value of carbon removal, and create new revenue streams for the actors involved.
For example, a recent study by researchers from Stanford University and the University of California, Berkeley found that converting biomass into fuels and chemicals using solar energy could create a negative emissions technology that is profitable and scalable. The study estimated that this technology could remove 0.5 to 2 gigatons of CO2 per year by 2050, and generate $5 to $40 per ton of CO2 in profits, depending on the product and the carbon price.
Another example is a project by Climeworks, a Swiss company that captures CO2 from the air using direct air capture technology. The captured CO2 is then injected into basaltic rock formations in Iceland, where it mineralizes and becomes permanently stored. The project, called Orca, is expected to remove 4,000 tons of CO2 per year, and sell the removal certificates to individuals and businesses who want to offset their emissions. The project is also supported by the Icelandic government, which offers a tax credit for carbon removal.
The Sustainability Of Carbon Removal
A third aspect of making carbon removal more cost-effective is to ensure its sustainability. Carbon removal can have positive or negative impacts on the environment and society, depending on the method, scale, and location. Therefore, carbon removal should be assessed and monitored for its potential trade-offs and risks, such as land use change, water consumption, energy demand, biodiversity loss, social justice, and governance.
One way to ensure the sustainability of carbon removal is to apply the principles of the circular economy, which aims to eliminate waste and pollution, keep products and materials in use, and regenerate natural systems. For example, a recent article by CleanTechnica proposed a circular carbon economy, which consists of four steps: reduce, reuse, recycle, and remove. The article argued that carbon removal should be integrated with the other steps, and that carbon should be viewed as a valuable resource rather than a waste.
Another way to ensure the sustainability of carbon removal is to adopt a portfolio approach, which combines different methods and scales of carbon removal, and balances them with emission reduction and adaptation measures. For example, a recent report by the World Resources Institute recommended a portfolio of natural and technological carbon removal options, such as reforestation, soil carbon sequestration, bioenergy with carbon capture and storage, and direct air capture. The report also suggested criteria and indicators to evaluate and compare the carbon removal options, such as cost, potential, permanence, and co-benefits.
Carbon removal is a crucial component of the global effort to combat climate change and achieve net-zero emissions by 2050. However, carbon removal faces many challenges, such as high costs, scalability, and environmental impacts. To overcome these challenges, carbon removal needs to be made more cost-effective and sustainable, by reducing the price, increasing the value, and ensuring the sustainability of carbon removal. By doing so, carbon removal can create multiple benefits for the climate, the economy, and the society.
