Project 2025 would drastically cut support for carbon removal

illuminem summarizes for you the essential news of the day. Read the full piece on WIRED or enjoy below:

🗞️ Driving the news: The Heritage Foundation's Project 2025, a policy blueprint for a potential Trump second term, proposes significant cuts to carbon removal efforts, including eliminating subsidies for Direct Air Capture (DAC) projects
• This includes dismantling the Department of Energy's (DOE) Office for Clean Energy Demonstrations, which funds DAC initiatives, and scrapping the 45Q tax credits that incentivize carbon capture and storage

🔭 The context: The U.S. is currently a leader in supporting DAC projects, with large-scale facilities under construction in Louisiana and Texas, backed by over $1 billion in federal support
• These projects aim to capture millions of tons of CO2 annually, and are critical for meeting net-zero targets, as emphasized by the IPCC
• However, DAC remains costly, with government funding playing a pivotal role in its development

🌍 Why it matters for the planet: Cutting federal support could severely undermine the growth of the carbon removal industry, which is essential to balancing emissions from hard-to-abate sectors like aviation
• As carbon capture technologies are crucial for long-term climate goals, the rollback could slow global efforts to curb climate change

⏭️ What's next: If Project 2025 is implemented, the future of carbon capture funding and regulatory support is uncertain, which could stall existing projects and delay advancements in DAC technology
• Policymakers will need to decide whether to maintain bipartisan support for these initiatives or shift priorities

💬 One quote: "You cannot start an industry with a societal good in mind unless you get governments to take an active role," — Daniel Nathan, Climeworks

📈 One stat: Up to $1.05 billion in Department of Energy funds are allocated to U.S. DAC projects in Louisiana and Texas

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