As countries around the world continue to pump planet-warming pollution into the skies, driving global temperatures to record levels, the financial world is racing to fund the emerging field of carbon dioxide removal, seeking both an environmental miracle and a financial windfall.<\/p>\n\n\n\n
The technology, which did not exist until a few years ago, is still unproven at scale. Yet, it has a uniquely alluring appeal. Stripping away some of the carbon dioxide that is heating up the world makes intuitive sense. And with a small but growing number of companies willing to pay for it, investors are jockeying to be first movers in what they believe will inevitably be a big industry that is necessary to help fight global warming.<\/p>\n\n\n\n
Companies working on ways to pull carbon dioxide from the air have raised more than $5 billion since 2018, according to the investment bank Jefferies. Before that, there were almost no such investments.<\/p>\n\n\n\n
\u201cIt\u2019s the single greatest opportunity I\u2019ve seen in 20 years of doing venture capital,\u201d said Damien Steel, the chief executive of Canada-based Deep Sky, which has raised more than $50 million to develop carbon dioxide removal projects. \u201cThe tailwinds behind the industry are greater than most industries I\u2019ve ever looked at.\u201d<\/p>\n\n\n\n
Read it all<\/a>.<\/p> It's a strategy that should be pursued but, it can't have any major impact anytime soon. \u201cWe need to obey the first law of holes,\u201d …\u201cWhen you\u2019re in one, stop digging.\u201dThe New Climate Gold Rush: Scrubbing Carbon From the Sky https:\/\/t.co\/Lwlh8Zfeir<\/a><\/p>— Prof. Peter Doherty (@ProfPCDoherty) December 23, 2024<\/a><\/blockquote>