Experts agree that reducing our carbon emissions is no longer enough. In a 2018 report, the Intergovernmental Panel on Climate Change said that if we are to limit global warming to 1.5 degrees Celsius and avoid the worst effects of climate change, we must delete between 100 to 1,000 gigatons of carbon dioxide from the atmosphere in the 21st century.
Carbon removal can be achieved naturally by planting trees or improving carbon storage in the soil through more sustainable farming practices, such as crop rotation and better cattle management. But several companies are also working on engineering solutions for carbon removal. The process, called direct air capture, sucks CO2 directly out of the atmosphere and burns the CO2 trapped underground.
But the technology is still very expensive. According to a white paper published by Microsoft this year, the cost of air capture is just over 50 times the cost per metric ton of the most natural climate solutions. To cover some of their costs, air purifier companies simply sell the byproduct, CO2, for a number of reasons. One of the most controversial uses is EOR, or improved oil recovery, where captured CO2 is sold to oil companies, who then inject the CO2 into old oil wells to even pump more oil out of it.
Companies like Microsoft, Chevron, Occidental visionaries and techs like Elon Musk and Bill Gates are all investing in carbon removal technologies, but those in the industry are insisting if the CO2 they capture is to be taken Away, they need government support.
CNBC spoke to Carbon Engineering and Climeworks, two industry leaders, to see how they plan to introduce mainstream air capture. Watch the video to find out more.