Report Highlights Nine Billion Tonnes Removal Of CO2 Annually to Meet Climate Goals

15th July 2024

A recent report co-led by researchers from the University of Oxford, the 2024 State of Carbon Dioxide Removal, indicates that to meet the 1.5°C target set by the Paris Agreement, the world must remove approximately 7 to 9 billion tonnes of CO₂ from the atmosphere each year by mid-century. The report emphasises that while reducing emissions remains the primary strategy for achieving net-zero, Carbon Dioxide Removal (CDR) is also crucial.

Sustainability & CDR
The analysis incorporated multiple Sustainable Development Goals to ensure the proposed CDR targets align with broader sustainability criteria. The estimated "Paris-consistent" range for CDR was derived with these goals in mind.

Current State Of CDR
CDR involves human activities designed to capture CO₂ from the atmosphere and store it for extended periods, ranging from decades to millennia. There are various CDR methods, each with differing levels of readiness, potential, and durability. Each method also carries sustainability risks that could affect its long-term viability. When these risks are addressed, certain CDR methods can offer additional benefits beyond climate mitigation.

Currently, around 2 Gt CO₂ per year of CDR is achieved, primarily through conventional methods like afforestation and reforestation, which are part of land use, land-use change, and forestry (LULUCF) activities. These traditional methods have maintained a relatively stable rate of CDR over the past twenty years. In contrast, novel CDR methods, which are still in early development stages, only contribute about 1.3 million tonnes (0.0013 Gt) of CO₂ removal annually.

The Need For Rapid Scaling
To meet climate goals, the report calls for a rapid scale-up of a diverse array of CDR methods. Although there has been significant growth in research, public awareness, and the number of start-up companies focusing on CDR, recent indicators suggest a slowdown in development.

Despite increasing investments in novel CDR methods, government policies and proposals have yet to effectively target these new technologies. Currently, investment in CDR accounts for just 1.1% of climate-tech start-up funding. Dr. Steve Smith from the Smith School of Enterprise and the Environment at the University of Oxford highlights the urgency: "Given that the world is off track from the decarbonisation needed to meet the Paris temperature goal, this underscores the necessity to increase investment in CDR as well as zero-emission solutions across the board."

Carbon Capture and Storage (CCS) could be key in the reduction in Carbon Dioxide (CO₂) from industrial processes. More information on this can be found at https://www.protea.ltd.uk/carbon-capture-and-storage-ccs

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