Full Title: Advancing Carbon Dioxide Removal Beyond the Hype Cycle
Author(s): Julie Gosalvez
Publisher(s): Carbon Gap
Publication Date: December 13, 2024
Full Text: Download Resource
Description (excerpt):
After years of organic growth and the emergence of multiple players, it is time for the CDR industry to stand up and proactively drive alignment of expectations. The four essential levers necessary for CDR to timely scale highlighted collectively are:
– Rapidly establishing large and sustainable demand from private markets and from public institutions;
– Accelerating technology de-risking of projects including for first-of-a-kind (FOAK) projects and driving cost down;
– Enabling funding for sustainable capital expenditure;
– Fostering public acceptance as the base of public action and project deployment.
There are 4 main areas of needs and opportunities to drive catalytic action:
1. Stimulate public demand and establish a clear action plan for regulations and incentives.
2. Propel rapid progress by prioritising TRL increase and rapid cost reduction.
3. Increase trust and objectivise the industry by driving transparency.
4. Create a non-profit, multi-stakeholder engagement platform to implode the bubble before it explodes.