The report highlights the importance of both reducing emissions and removing CO2 from the atmosphere to achieve the goals of the Paris Agreement. While reducing emissions remains crucial, carbon removal is seen as a necessary complement. However, the expansion of CO2-absorbing forests, which currently accounts for 99% of carbon removal, could lead to conflicts over land use for agriculture and biofuels production. Additionally, there are uncertainties surrounding the scalability of new technologies for CO2 removal.

The report also notes a slowdown in the development of carbon removal technologies due to political factors and insufficient funding. To address this, governments are urged to implement policies that support the growth of the carbon capture industry. Currently, the market for carbon capture is growing, driven by corporate demand for carbon credits. However, significant investment is needed to scale up carbon capture technologies, with funding sources remaining uncertain.

While carbon removal technologies offer potential solutions, they also present environmental risks and challenges. Some methods, such as direct air capture and carbon storage, have significant ecosystem risks, while others, like nature-based solutions, may offer co-benefits. Therefore, the report emphasises the importance of carefully balancing carbon removal efforts with emissions reduction measures to effectively address climate change.

(Source: ET Energy)