The policy challenge is to accelerate the development and drive down deployment costs. The Climate Recovery Institute has a portfolio of solutions ready to scale.
The Climate Recovery Institute helps policy makers understand where to focus their attention and how to maximise the impact. We help understand which technology sets have the greatest potential and synergies based on local strengths. We help understand the policy interventions that can unlock investor, industry, and community support to get solutions to the scale and price points needed.
For Governments with net zero commitments, the immediate priority is deeply cutting existing greenhouse gas emissions by deploying the energy, agricultural and land-use solutions which are already cost effective and at scale.
But under most emissions pathways to achieving 1.5˚C goals, by 2030 we’ll have exhausted our existing toolkit and need a new wave of solutions. This includes scaling deployment of promising new technologies to drive deep decarbonisation of industry, chemicals, construction and heavy transport. Crucially it also includes deploying negative emissions technologies to remove existing atmospheric carbon and reverse the dangerous temperature rises that are currently locked in.
From 2030, most IPCC emissions pathways assume carbon removal will be required at a scale of 5-15 billion tonnes a year globally. This equates to around 9-27% of current annual emissions. By 2030, carbon removal targets will be on par with most countries the largest emissions sources after energy.
However we currently don’t have solutions capable of cost-effectively delivering carbon removal at that scale. Solutions won’t be ready until decades after we need them if we rely on traditional technology development frameworks.
Therefore it is imperative that Governments invest a small portion of climate expenditure to unlock crucial technologies, so they are ready when we need them at scale.