If the world exceeds its greenhouse gas budget, it will have catastrophic consequences, but public and private sector stakeholders are fostering great opportunities to reverse climate change.
According to the latest report by the United Nations Climate Change Panel, an estimated 450 gigatons of carbon need to be removed from the atmosphere to limit global warming to 1.5 degrees Celsius.
“Otherwise … there will be no devastation in living memories,” Running Tide CEO Marty Odlin told Yahoo Finance Live (video above). “Therefore, all the environmental disadvantages of a particular solution need to be compared to the total impact of warming on the planet and ecosystems,” said
Odlin, “450 gigatons of carbon removed from the atmosphere.” Will be … It is the largest industry in the history of the world. You need to build it. No one’s living memory has been constructed in this way. This is 150 years to reverse the fossil fuel industry and will be completed in 20 years.
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Carbon removal is in the “flat part of the exponential curve”
Under the pressure of climate crisis and biodiversity loss, carbon removal and ecosystem restoration are “necessary, they are large industries” “Odrin said.” They are not an option. ”
In fact, large companies are beginning to see climate adaptation and mitigation as the center of long-term health of their businesses. increase. Many companies have already set emission targets, but only a few have a clear decarbonization roadmap in line with the Paris Agreement. Maine-based aquaculture start-up
Running Tide has been backed by these well-known companies like Shopify and venture capital firms like Venrock.
“Large companies interested in offsetting carbon emissions and achieving Netzero’s goals over the next 15 to 20 years seem to be seeing a big wave of this support,” Odlin said. .. “And they believe that permanent carbon removal solutions are essentially an important part of future climate strategies and support these new technologies to essentially build a foothold in these industries. We are starting. ”We need to eliminate CO2, which is still in the early stages of development, and scale up quickly. According to the Center for Climate and Energy Solutions, by 2050, about 10 gigatons of carbon dioxide will need to be removed from the atmosphere annually, and for the rest of the century, 20 gigatons of carbon dioxide will need to be removed.
“Which technology works to reach the gigaton or 10 gigaton scale? It’s too early to say,” Odrin said. “I think all of these production lamps we are talking about are currently on the flat part of the exponential curve. And you have to try all these different technologies to see where the bottleneck is.
Visitors are watching the kelp forest exhibit at the Monterey Bay Aquarium in Monterey, California, May 14, 2021. Photo from May 14, 2021. Reuters / Nathan Flandino
Visitors are watching the kelp forest exhibit at the Monterey Bay Aquarium in Monterey, California, USA. May 14, 2021. Reuters / Nathan Flandino
Running Tide is committed to “nature”. Based solution “Growing kelp forests off the coast and dumping them into the deep sea removes carbon from the atmosphere. This type of algae absorbs carbon and then turns into marine sediments, which is now It’s the same process that produced the oil being burned.
“As you know, seaweeds sink into the deep sea, macro and microalgae sink into the deep sea, from which oil comes from, right?” Odrin said, “so we accelerate and push it up. I have. ”
After testing the solution’s ability to remove carbon for 18 months, Odrin expressed his confidence that “the sinking kelp forest can reach megatons very quickly compared to other technologies.” bottom.
However, the upscaling of the Running Tide operation depends on the content of the data from the ongoing experiment. “We certainly won’t be ahead of science,” Odrin said.