Eirik Olsen’s Post

The recent "The State of Carbon Dioxide Removal — Edition 2" report highlights the eminent need of science based technologies for carbon removal to reach net zero. Here are a few key takeaways from the report: 1. Rapid emission reductions and a near-term scale-up of carbon dioxide removal (CDR) are necessary to meet the Paris Agreement's temperature goals. The report highlights the need for 7-9 GtCO2 removals per year by 2050, with cumulative removals of 170 GtCO2 between 2020 and net-zero CO2. 2. CDR deployment is currently low but expected to grow. Research grants, publications, and high-value inventions related to CDR have increased significantly, indicating growing innovation. However, challenges like financial bottlenecks and scientific uncertainties hinder scaling up CDR. 3. Companies have announced ambitious plans for scaling up novel CDR methods like direct air capture and bioenergy with carbon capture and storage. These announcements project removing up to 11 GtCO2 annually by 2050, implying a 40% compound annual growth rate. You can read the full report here: https://lnkd.in/d97fNnEE

Carbon Dioxide Removal (CDR)! A recent report is exceptionally interesting. Lots of takeaways but I will summarise the most interesting to me: 🔢 GHG emissions were 55GtCO2/yr in 2022 (a big number to put things into context). Total current CDR, almost all from conventional methods, is 2.2GtCO2/yr (only 4% of annual emissions!) 📈 CDR is required in all IPCC scenarios 🌲 🏭 CDR includes conventional (afforestation, ecosystem restoration, wood products) and novel (direct carbon capture storage, bioenergy with capture) 🌊 Conventional methods are significantly more sustainable than Novel methods. For instance the Mammoth DAC plant in Iceland uses 20 tonnes of water for 1 tonne of CO2 removal. ▪ Novel CDR is currently 0.1% of total CDR 📃 Country commitments (if fulfilled) will achieve CDR of 2.6GtCO2/yr by 2030 and 4.4GtCO2/yr by 2050 but we likely need 9GtCO2/yr by 2050! So we're not on track (who hears this too often?) 📉 Predictions of CDR removal have been decreased for most novel methods as they are not achieving the removals that were expected. ♻ Life Cycle Impacts of implementing the method (tractor to plant seeds, embodied carbon of direct air capture) in typically included in the CDR calculation method but it is not robustly done 🤦♂️ All scenarios studies assumed GHG emissions peaked at 2020, which they did not! They continue to climb. The scientists highlight that the high CDR scenario is not preferred, and mitigation is needed first. Report: www.stateofcdr.org fyi Will Arnold

What's the current "state of carbon dioxide removal"? In a nutshell 🌰 There's a CDR gap... 💡 7–9 billion tons of #CO2 per year will need to be removed by 2050 to meet the 1.5°C target. 💡 The amount of CDR proposed by governments around the world falls way short of what is required to meet the Paris goal. What do we need to fill that #CDRgap? A surge on both supply and demand side... Supply gap: 📈 Currently 2 billion tons/year are being removed, most of which via conventional, nature-based methods. Novel CDR contribute to a mere 0.1% per year, but is growing quickly – and needs to do so to fill the supply gap and to ensure a shifted focus towards durable removal. 📈 Research funding is growing at 14% annually, and publications at 19%, though patents have slowed since 2010. Investment in CDR start-ups is growing, but has slowed over the past year. Demand gap: 🔸 Much of the current demand for CDR is coming from voluntary commitments by companies buying #carbonremoval credits. But the VCM is still driven only by a few pioneering players – the demand side needs to be widened, fast. 🔸 The trend is towards durable carbon removal: Credits issued for conventional CDR fell in 2023 from 20.4 million to 13.3 million, while purchases of future novel CDR credits grew from 600,000 to 4.6 million. 🔸 Government action in form of policies (driving demand but also facilitating transparency), funding (helping scale technologies faster), and compliance (setting regulations but also facilitating trading schemes) is needed more than ever. Read the full report below 👇🏼

In case you missed this earlier this month, download "The State of Carbon Dioxide Removal," 2nd Edition, a 222 page report led by the University of Oxford. #sustainability #energytransition #IRA #CO2 #carbon #decarbonization #decarbonisation #carboncapture #ccs #ccus #carbonremoval #DAC #directaircapture https://lnkd.in/eAgvURtx

Navigating the Carbon Dioxide Removal (CDR) Landscape: Puro.earth 2024 CDR Market Map https://lnkd.in/gtJ4ddxv #carbondioxideremoval

10,000,000,000 aka 10 billion. That's how many tons of CO2 we need to get removed from the atmosphere by 2050. What's more, we should already be at 2 billion tons by 2030 to be on track to meet our #netzero targets as per the IPCC. We need to scale #carbonremoval now, and quickly. But how? 1. deploy and ramp up existing #CDR technologies 🚀 2. reduce costs to increase affordability 📉 3. keep innovating 🔬🧪 4. huge demand signal 📈 The latter – so a strong signal by organizations committing to buy CDR in advance, at scale – is crucial and sometimes overlooked. There are promising signals coming from the regulated market, e.g. this week's #CRCF at EU level. But widespread, effective #regulations will take time to develop and deploy. The voluntary carbon market is already the main driver behind the scale-up of #CDR. But the #VCM needs to grow from niche (i.e. a couple dozen front-runners investing now) to widespread (i.e. companies systematically embedding carbon removal in their climate strategies, as urges the Science Based Targets initiative). What do you think is key in scaling #carbonremoval today? Watch Carbon Unbound's video 👇🏼 to get more insights from experts such as TITO JANKOWSKI, Henrietta Moon, Jeremiah Lim, CFA, Fabien Ramos, Benjamin Tincq, Nikki Batchelor, Angela Hepworth, and Eamon Jubbawy.

I am excited to share that the latest "State of Carbon Dioxide Removal" report was published yesterday. I had the pleasure of co-authoring two chapters: Chapter 7, where we evaluate the current levels of both novel and conventional CDR, and Chapter 3, which focuses on upscaling efforts. This report, produced through a collaboration of leading scientific institutions, provides a comprehensive overview of the current global efforts in carbon dioxide removal from the atmosphere. Among other key insights, we find that approximately 2 GtCO2 per year of CDR is currently being achieved, with the majority coming from conventional methods such as afforestation/reforestation. Novel methods, still in the early stages, contribute 1.3 million tons (0.0013 Gt) of CO2 removal per year (less than 0.1% of total CDR). Specifically, BECCS contributes around 0.5 MtCO2 per year, and biochar about 0.8 MtCO2 per year. While this shows that we have a long way to go to meet the IPCC's CDR targets, there is significant promise in emerging innovations, new funding mechanisms, and evolving market activities. Read the full report and access the data at https://lnkd.in/dndPSeqt. #UniversityofOxford #ClimateChange #CDR #CarbonDioxideRemoval #Sustainability #SoCDR

There's a lot of talk about Carbon Dioxide Removal (#CDR) so I thought I'd break it down for everyone 👇 💨 We Need Diverse Strategies for Net-Zero: Achieving net-zero emissions will involve a blend of carbon dioxide removal (CDR) methods. Land-based CDR like reforestation is temporary & will need to be complemented by novel, longer-lasting solutions like mineral and geological storage. See the comments for my recent post expressing my frustration with these temporary credits. 💰 The Cost of Longevity: While land-based methods are cost-effective, they offer shorter-term solutions. Novel methods like direct air capture provide long-term of carbon sequestration but come with a higher price tag, underlining the need for investment in diverse, scalable CDR technologies. 💱 Building a Robust Carbon Market: A functional carbon market requires quantifiable and high-quality CDR. Investment in various CDR projects, including reforestation and biochar can be a lever for reaching net-zero but there need to be improvements in oversight & reporting. Companies like Fiùtur, DevvStream & Xpansiv are working to bring light to this. The need for high-quality, quantifiable carbon extraction is essential for a functioning carbon market. I remain of the opinion that it's more important to mitigate and reduce emissions altogether and only try to recapture CO2 when it's impossible to avoid.

Carbon Capture is a critical component to moving us forward....

Did you know that Carbon Capture, Utilization and Storage (CCUS) technologies can play a pivotal role in reducing emissions from fossil fuel sources such as refineries? CCUS is viewed as a key technology to reduce significant GHG emissions and help meet emission reduction targets. Read more https://okt.to/XGHBdM #CCUS #Emissions #Decarbonization #BringingDecarbonizationToLife