2023 was marked by groundbreaking technical developments, for example in the area of artificial intelligence. There is less talk about innovations in the climate sector, although they are no less groundbreaking.
We are talking about novel carbon dioxide removal technologies such as biochar, bioenergy with carbon capture and storage (BECCS), direct air carbon capture and storage (DACCS), and green Concrete.
These technologies attempt to use CO2 for new industrial processes and sectors and therefore offer a long-term and permanent solution to the climate.Cdr.fyi data shows that the market capitalization of these novel technologies has increased to $400 million in just three years. Spurred by Frontier Climate’s overwhelming $1 billion commitment and the Biden administration’s $1.4 billion allocation for DACCS, so-called carbon dioxide removal (CDR) technologies are enjoying growth Trust.New companies in the field of CO2 removal are also showing that the innovation is here. One of them is Carbon Cure, a start-up that stores recycled CO2 back into fresh concrete, or Charm Industrial, a young company that uses plants to capture CO2 from the atmosphere.
Biomass is converted into a stable, carbon-rich liquid and then pumped deep underground.However, this growth is not just a testament to the market’s dynamism: it is fueled by an urgent global need. An important report is the report “The State of CDR”, the conclusion of which is clear: If the global community is serious about limiting global warming to 1.5 or two degrees Celsius, we must and are allowed to use the new CDR methods not undermined. Nations are called upon to increase their commitment to disseminating these innovations by 2030. At the same time, companies have a duty to integrate and promote these solutions.But as with any transformative proposal, there are critics.
Some argue loudly that promoting these technologies represents a convenient way out or a distraction for states and companies. They fear that this could mean that they will feel less pressure to act to reduce emissions.However, this position may be short-sighted, as research increasingly highlights that without consistent reinforcement of these CDR technologies, the Paris goals, so laudable and urgent, will remain a distant dream. Because emissions that are difficult to eliminate – such as those from jet fuel or cement production – are stubborn realities that we must continue to reckon with.