Can We Arrest Global Warming By Yanking CO2 From The Atmosphere?
FILE - In this July 27, 2018, file photo,
the Dave Johnson coal-fired power plant is silhouetted against the
morning sun in Glenrock, Wyo. Jeremy Grantham, a British billionaire
investor who's a major contributor to environmental causes, will fund
carbon-capture research in Wyoming, the top U.S. coal-mining state.
Wyoming's Republican governor, Mark Gordon, and the carbon-capture
technology nonprofit Carbontech Labs announced Thursday, March 28, 2019,
they're providing $1.25 million to help researchers find ways to turn
greenhouse-gas emissions into valuable products. (AP Photo/J. David Ake,
File)
ASSOCIATED PRESS the Dave Johnson coal-fired power plant is silhouetted against the
morning sun in Glenrock, Wyo. Jeremy Grantham, a British billionaire
investor who's a major contributor to environmental causes, will fund
carbon-capture research in Wyoming, the top U.S. coal-mining state.
Wyoming's Republican governor, Mark Gordon, and the carbon-capture
technology nonprofit Carbontech Labs announced Thursday, March 28, 2019,
they're providing $1.25 million to help researchers find ways to turn
greenhouse-gas emissions into valuable products. (AP Photo/J. David Ake,
File)
When the National Climate Assessment was
released late last year, it said that the risk of catastrophic climate
change was such that new tools had to be created to literally yank CO2
from atmosphere — to sequester it from ambient air. But what is being
done to achieve this and is this technology feasible?
released late last year, it said that the risk of catastrophic climate
change was such that new tools had to be created to literally yank CO2
from atmosphere — to sequester it from ambient air. But what is being
done to achieve this and is this technology feasible?
Study after study has concluded that
climate change is primarily human-induced and that global average
temperatures are the highest they have ever been. And if the level of
heat-trapping emissions is not brought down, it will affect every
dimension of human life — from energy production to water availability to infrastructure development.
climate change is primarily human-induced and that global average
temperatures are the highest they have ever been. And if the level of
heat-trapping emissions is not brought down, it will affect every
dimension of human life — from energy production to water availability to infrastructure development.
“The emitting has gone on so long and has
reached such scale that to avert a 2 degree rise, we need carbon
capture and sequestration to be implemented across the globe,” says Sam
Feinburg, chief operating officer and executive director of Helena that serves as a braintrust to solve climate issues — one that brings together financial, intellectual and political capital.
reached such scale that to avert a 2 degree rise, we need carbon
capture and sequestration to be implemented across the globe,” says Sam
Feinburg, chief operating officer and executive director of Helena that serves as a braintrust to solve climate issues — one that brings together financial, intellectual and political capital.
“We used to ask if this is feasible,” he
continues, in an interview. “Now we know it is imminently feasible but
the bigger question is, ‘will we get there in time.’ “It is very
important that the world embrace this at scale. It is embryonic now. It
will get there. We will accelerate that timeline.”
continues, in an interview. “Now we know it is imminently feasible but
the bigger question is, ‘will we get there in time.’ “It is very
important that the world embrace this at scale. It is embryonic now. It
will get there. We will accelerate that timeline.”
The 2018 National Climate Assessment
— produced by 13 U.S. agencies — said that to keep temperature rises to
2 degree Celsius and 3.6 degrees Fahrenheit by mid century, public
policy must help facilitate the development of low-to-no-carbon fuels to
power utilities and vehicles.
For those who think the economic cost of such a transition is too high,
think again: The price of inaction, according to the authors, will be
half-trillion dollars a year.
— produced by 13 U.S. agencies — said that to keep temperature rises to
2 degree Celsius and 3.6 degrees Fahrenheit by mid century, public
policy must help facilitate the development of low-to-no-carbon fuels to
power utilities and vehicles.
For those who think the economic cost of such a transition is too high,
think again: The price of inaction, according to the authors, will be
half-trillion dollars a year.
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Helena is specifically working with Swiss-based Climeworks to scrub CO2 from the atmosphere — after it has left the smokestack. Climeworks’ goal is
to remove 1% of the world’s total annual CO2 emissions by 2025 — or 10
billion tons of CO2 each year by 2050. Right now, the CO2 that the
company is capturing is re-used for plant life. But if it is to have a
real impact on mitigating the effects of climate change, that CO2 must
be sequestered underground. And that’s hard right now because it cost
$600 to remove a ton of CO2. But Climeworks says it will get that down
to $100 a ton in a few years.
to remove 1% of the world’s total annual CO2 emissions by 2025 — or 10
billion tons of CO2 each year by 2050. Right now, the CO2 that the
company is capturing is re-used for plant life. But if it is to have a
real impact on mitigating the effects of climate change, that CO2 must
be sequestered underground. And that’s hard right now because it cost
$600 to remove a ton of CO2. But Climeworks says it will get that down
to $100 a ton in a few years.
In this May 31, 2018, photo, a solar panel
array collects sun light with the Fremont, Neb., with a power plant
seen behind it. Solar energy is gaining traction in a small but growing
number of Nebraska cities, but the technology still faces a number of
obstacles that is keeping it from spreading faster. (AP Photo/Nati
Harnik)
ASSOCIATED PRESS array collects sun light with the Fremont, Neb., with a power plant
seen behind it. Solar energy is gaining traction in a small but growing
number of Nebraska cities, but the technology still faces a number of
obstacles that is keeping it from spreading faster. (AP Photo/Nati
Harnik)
Catalytic Effect
“The technology needs a catalytic effect: folks must be able to bet on it,” says Henry Elkus, chief executive of Helena,
in an interview. “There is an amount of research and development that
needs to happen to drop the price of a ton of carbon to reach
feasibility. Helena can facilitate that time span.
in an interview. “There is an amount of research and development that
needs to happen to drop the price of a ton of carbon to reach
feasibility. Helena can facilitate that time span.
“We have seen this with solar,” he
continues. “There was a time when it was not viable and now it is.
Carbon capture deserves to be adopted.”
continues. “There was a time when it was not viable and now it is.
Carbon capture deserves to be adopted.”
Helena has been working with Climeworks
for two years, providing it with the experts who give consulting and
scientific advice — without taking a financial position. The company, in
fact, has been listed as a “Top 20” in the field of carbon capture,
along with: ExxonMobil, Occidental Petroleum, General Electric,
Mitsubishi Heavy Industries, Schlumberger, Royal Dutch Shell and NRG
Energy. Meanwhile, two of Climeworks competitors that are also focused
on pulling CO2 from the atmosphere are listed: Global Thermostat and
Carbon Engineering.
for two years, providing it with the experts who give consulting and
scientific advice — without taking a financial position. The company, in
fact, has been listed as a “Top 20” in the field of carbon capture,
along with: ExxonMobil, Occidental Petroleum, General Electric,
Mitsubishi Heavy Industries, Schlumberger, Royal Dutch Shell and NRG
Energy. Meanwhile, two of Climeworks competitors that are also focused
on pulling CO2 from the atmosphere are listed: Global Thermostat and
Carbon Engineering.
To be clear, Helena is focused on real
climate solutions — ones that also include the increasing use of
renewable energies. To that end, the Bloomberg Foundation
has just launched a “Beyond Carbon” campaign that is financed with a
$500 million investment. It will work with state and local organizations
to pass laws to get to 100% clean energy by, in part, expanding
low-carbon transit, cleaning up buildings and promoting low-carbon
manufacturing.
climate solutions — ones that also include the increasing use of
renewable energies. To that end, the Bloomberg Foundation
has just launched a “Beyond Carbon” campaign that is financed with a
$500 million investment. It will work with state and local organizations
to pass laws to get to 100% clean energy by, in part, expanding
low-carbon transit, cleaning up buildings and promoting low-carbon
manufacturing.
The same foundation has worked to close
the nation’s coal plants, with 289 of the 530 being mothballed since
2011. It aims to close the rest by 2030. But it says that replacing that
fuel with natural gas will do little to dent the carbon threat over the
long term, meaning that such energy should be replaced with cleaner
alternatives.
the nation’s coal plants, with 289 of the 530 being mothballed since
2011. It aims to close the rest by 2030. But it says that replacing that
fuel with natural gas will do little to dent the carbon threat over the
long term, meaning that such energy should be replaced with cleaner
alternatives.
Natural gas,
though, is used to firm up wind and solar plants when the weather does
not permit. And it has helped accelerate the growth of those fuels by
preventing outages. That means that carbon capture is a technology that
should not be forsaken — especially because this country will continue
to use natural gas while the developing world will continue to rely on
coal.
though, is used to firm up wind and solar plants when the weather does
not permit. And it has helped accelerate the growth of those fuels by
preventing outages. That means that carbon capture is a technology that
should not be forsaken — especially because this country will continue
to use natural gas while the developing world will continue to rely on
coal.
“The goal is to arrest global warming,”
says Helena’s Feinburg. “It is about getting carbon capture to a
commercial and industrial scale. We are about accelerating the growth
curve and adoption of the technology.”
says Helena’s Feinburg. “It is about getting carbon capture to a
commercial and industrial scale. We are about accelerating the growth
curve and adoption of the technology.”
Carbon capture
is an expensive tool that will require new resources to bring it to
fruition. And while many will argue that those monies would be better
targeted to prevailing cleaner fuels, the reality is that the world will
still depend on fossil fuels. The development of the technology is
henceforth unavoidable if we are to meet the challenges presented by
climate change.
is an expensive tool that will require new resources to bring it to
fruition. And while many will argue that those monies would be better
targeted to prevailing cleaner fuels, the reality is that the world will
still depend on fossil fuels. The development of the technology is
henceforth unavoidable if we are to meet the challenges presented by
climate change.
