Full Title: Near-Term Carbon Dioxide Removal Deployment can Minimize Disruptive Pace of Decarbonization and Economic Risks Towards United States’ Net-Zero Goal
Author(s): Humphrey Adun, Jeffrey Dankwa Ampah, Olusola Bamisile, Yihua Hu, Iain Staffell & Haris R. Gilani
Publisher(s): Nature
Publication Date: December 19, 2024
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Description (excerpt):
Deep decarbonization is essential for achieving the Paris Agreement goals, and carbon dioxide removal is required to address residual emissions and achieve net-zero targets. However, the implications of delaying the deployment of removal technologies remain unclear. We quantify how different carbon removal methods and their deployment timing affect achieving net zero emissions by 2050 in the United States. Our findings show that postponing novel technologies until mid-century forces accelerated decarbonization of energy-intensive sectors, reducing residual emissions by at least 12% compared with near-term deployment of carbon dioxide removal. This delay increases transition costs, requiring carbon prices 59–79% higher than with near-term deployment. It also heightens the risk of premature fossil fuel retirement in the electricity sector, leading to 128–220 billion USD losses compared to gradual scale up starting now. A balanced, near-term co-deployment of novel removal methods mitigates risks associated with relying on a single approach and addresses sustainability and scalability concerns.