Observers warn the US must do more to boost demand for carbon removal

Illuminem summarizes for you the essential news of the day. Read the full piece on MIT Technology Review or enjoy below:

🗞️ Driving the news: The US is investing $3.5 billion in carbon removal projects through the Regional Direct Air Capture Hubs program, but experts warn that market demand for carbon credits is insufficient to sustain these efforts
• Industry observers urge the Department of Energy (DOE) to allocate more funds toward purchasing removed carbon to boost the sector's viability

🔭 The context: Direct air capture (DAC) technology removes carbon dioxide from the air and stores it underground, but demand largely depends on companies voluntarily buying carbon credits
• Without stronger government support, some fear these projects could fail, undermining the US’s climate goals

🌍 Why it matters for the planet: Carbon removal is crucial to meeting global climate targets, but scaling it will require sustained market demand
• Without a robust market, the industry risks stalling, potentially delaying climate action

⏭️ What's next: Calls are growing for the US government to buy more carbon removal or offer greater subsidies to maintain market growth
• Experts argue that a balance between public and corporate investment is key to scaling DAC projects

💬 One quote: "We’re producing a waste management service that no one currently has to pay for, and that makes commercializing this particularly difficult" – Giana Amador, Carbon Removal Alliance

📈 One stat: The DOE has committed over $1 billion to two projects capable of capturing 1 million tons of CO2 per year, with additional funds for smaller-scale projects

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