Since the release of the IPCC Report on 1.5 Degrees of Warming, the global community has refocused its attention toward fast tracking the research and development of Carbon Capture Technologies and Methodologies.
The report makes clear it will take nothing short of a miracle to achieve global decarbonization in the timescales required to keep global warming below 1.5, or in fact even 2 degrees.
It also makes clear that every scenario it looked at, requires removing vast amounts of carbon dioxide from the atmosphere.
In fact it states, if the world does not develop technologies and methodologies which can remove a minimum of 100 giga tons of carbon from the earth's atmosphere by 2100, we are going to experience storms and floods of biblical proportions. That means we must on average remove, 1.4 giga tons (1.4 billion tons) per year, every year from 2025 - 2100.
However we will not have to wait for 2100 to experience horrific storms. The Report also makes clear if we do not reduce carbon emissions by half, by 2030, our worst nightmares will begin to materialize.
This means that carbon removal is no longer just a potential strategy for fighting climate change. Given the very high likelihood we will overshoot our emissions reduction targets, carbon removal is now an absolute necessity for avoiding worst-case scenarios
PRICE ON CARBON
Since the release of the IPCC Report, it is fool hardy to believe the global community is not now forced to place a price on carbon within 5 years.
The longer governments delay placing a price on Carbon, the great the ultimate price per ton will have to be.
Today there is general consensus that Carbon should be priced at about US$30 per ton. However if the global community does not come together on a global price for carbon within the next five years, by 2025 the floor price is estimated to be closer to US$50 per ton.
This may seem an extremely high price which would put a huge, unacceptable, burden on communities. However as ever stronger and more frequent storms, floods and other climate disasters, begin to devastated almost all communities across the planet, people will quickly come to understand a carbon tax is much less of a cost, than the constant ever escalating damages bills.
Needing to remove 1.4 billion tons per year of Carbon Dioxide from the earth's atmosphere per year, each year into the foreseeable future, while receiving US$50 for each ton (low side estimate) of Carbon Dioxide removed and sequestered, makes the Carbon Capture and Sequester Industry potentially a US$700 billion/ year Global Industry
Even if you take a much more conservative approach at US$30/ton the global potential the industry is still US$ 350 billion/year.
The Carbon Capture and Sequestration Industry is Green Fields to say the least. Hence the opportunities for early entrants and investors are enormous.
PARTNERING WITH RESEARCHERS
There is no doubt, at this present moment existing Carbon Capture technologies are commercially unworkable. They are extremely expensive and very difficult to scale up.
However ever week, researchers with new ideas and projects are joining the Geoengineering Research Alliance.
Some of these young researchers are approaching the task at hand vastly different from what is considered to be the mainstream research method for carbon capture. I therefore believe in the next year or two, quite revolutionary carbon capture technologies will emerge.
However at this present time, the one thing almost all researchers have in common, is that they lack the funds to thoroughly research their ideas and explore new avenues and techniques as they surface during their primary research.
Corporations which have the resources to open up this potentially trillion dollar, green fields market, and are members of the Geoengineering Research Alliance I believe have a golden opportunity to get a significant jump on their would be competitors, by way of providing research dollars, and partnering with these truly innovative researchers, during the early development phase of their technologies.
PARTNERING WITH COUNTRIES
It may take some years before researchers develop an economically feasible technology to remove carbon from the atmosphere. And the price per ton of carbon removed would surely need to be set at between US$50 -100/ton.
However national forests and ecosystems, on land and at sea already exist, and they are fairly inexpensive to scale up. Furthermore the price for removing 1 ton of carbon from the atmosphere utilizing existing and expanded ecosystems could easily be achieved for US$10-30/ton. And almost all countries could start expanding their eco-systems immediately if they had the funds.
Most scientific reports state that at least 50% of the CO2 in the atmosphere, which needs to be removed, will have to be extracted by land and sea based eco-systems.
This makes 'National Ecosystems' a potential US$350 billion industry.
In many cases, Developing Nations will not have the economic resource to fully develop their vast land and sea based ecosystems. And with so much potential new revenue at stake they will surely look to find win-win partnerships with large multi-national corporations
The Geoengineering Research Alliance will facilitate these win-win partnerships within its corporate and government memberships.
To achieve these goals the GRA has put into place the follow initiatives,
Research Members can apply for a Small Grant, from the Alliance's Small Grants Program to cover airfares and accommodation for their team to present their research to potential Partners or Investor Members of the Alliance, who maybe on the other-side of the world.
At the invitation of governments the GRA will host numerous country visits for members to nations implementing, 'Community Based Carbon Capture Projects,' which are trying to expand and manage their, Carbon Sequestration Ecosystems.'
The GRA will facilitate introductions of investors and governments which have asked for assistance to grow the Eco-System Assets.
The GRA yearly Congress will bring together scores of National Government representatives, Researchers, Corporate and Investor Members. The 'GRA Partner Program' running congruently with the Congress, will allow,
Corporate Representatives to meet one on one with National Government Representatives
Corporate Representatives & Investors to hear presentations from a large number of Researchers.