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How big is the carbon removal market today?

2 pointsby n2parkoabout 3 years ago

1 comment

dane-pgpabout 3 years ago
An interesting analysis. It seems to stop just short of attempting to answer the really important questions, though. For example, it says:<p>&gt; This is based on a 2017 UNEP report that estimated we’ll need annual CDR of 10Gt will help achieve a 2°C scenario.<p>and:<p>&gt; The average cost is $332 per ton<p>So currently the annual cost to keep to that scenario is about $3 trillion per year. To put that in perspective, it&#x27;s about half the amount that Covid-19 is thought to have cost the world in 2020 according to one estimate.[0]<p>It&#x27;s possible that the costs of CDR will go down as the technology scales up, but it&#x27;s also possible that a relatively short economic stress like Covid-19 is easier to manage than a multi-decade commitment to funding CDR at a level like $100 billion per year, for example.<p>[0] <a href="https:&#x2F;&#x2F;www.standard.co.uk&#x2F;business&#x2F;economy&#x2F;how-much-has-the-pandemic-cost-the-world-s-economy-b473369.html" rel="nofollow">https:&#x2F;&#x2F;www.standard.co.uk&#x2F;business&#x2F;economy&#x2F;how-much-has-the...</a>