Green Tech Firms Launch Lobbying Group To Push For Govt Subsidies To Suck CO2 Out Of The Air
A coalition of more than 20 companies launched the Climate Removal Alliance (CRA) Thursday to lobby the U.S. government to support the carbon dioxide removal (CDR) industry.
To limit the impact of global warming, it is necessary to develop an industry that is capable of supporting 3.8 billion tons of carbon dioxide from the atmosphere annually, up from the roughly 10,000 tons that have been removed thus far, according to the CRA. The technology recently received significant support from the U.S. government, with President Joe Biden’s signature infrastructure law offering $3.5 billion for the construction of carbon capture “hubs,” Axios reported.
“Together, we will work to realize the potential of the trillion-dollar carbon removal industry — catalyzing innovation, creating high-quality jobs, driving economic development, and ensuring we achieve our climate goals,” the CRA said in a statement to Reuters.
Carbon capture technology typically pulls carbon dioxide from the air in one of two ways: either through the targeted use of chemicals to directly capture carbon dioxide or by providing support to natural processes, such as planting trees, Reuters reported. However, some environmental groups believe the technology can be used to mask the impacts of fossil fuels and help oil and gas companies remain profitable, inhibiting the transition to green energy.
While recent federal support has helped, the range of technologies that qualify for federal funding is limited, and the organization will encourage the government to expand what qualifies, CRA executive director Giana Amador told Axios.
“We’re at this really exciting inflection point for the field that as [it] matures and as carbon removal solutions scale, it’s really important to make sure that the projects moving forward are extremely high quality,” Amador told Axios.
The CRA did not immediately respond to a Daily Caller News Foundation request for comment.
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