The US and the world will probably be using fossil fuels for some time. This, to borrow a phrase, is an inconvenient fact. However, it’s one which our nation should come to phrases with if we’re to create and commercialize technologies that reply to the worldwide demand for decreased greenhouse gas emissions and place our economic system to thrive within the course of. One in each of these technologies is direct air capture, which makes use of rising superior programs to remove carbon dioxide immediately from the ambient air, and safely stores the carbon dioxide or redirects it for commercial purposes.
Together with other carbon capture and storage technologies, direct air capture is as we speak increasingly seen by energy experts as an integral element to the transition to a low carbon future. In reality, a minimum of the Intergovernmental Panel on Climate Change, in its most recent main report last fall, stipulated that damaging emission technologies like direct air capture will doubtless play a significant role in long term climate protection.
For a lot of firms, and the millions of employees and the hundreds of millions of consumers who produce and use fossil fuels, direct air capture, and other carbon elimination technologies are vital tools that maintain the potential to create economic value as a part of a global energy transition. That is additionally true for the various companies that depend on fossil fuels in addition to for these troublesome to decarbonize the manufacturing and industrial sectors.
To assist transfer this course of ahead and place America on the vanguard of this emerging business, we’re becoming a member of other labor, business, environmental, and other leaders in forming a new group, the Direct Air Capture Advisory Council, to explore the many challenges and alternatives of advancing direct air capture. At this time, it’s within the very early stages of commercialization, since it’s costly and carries investor risks. Complete policies and regulatory frameworks that present investors with greater certainty are essential to incentivize technology development, project deployment, and implementation of the broader business case.