Lennart Joos

Climate Change Environmental Sustainability

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Lennart Joos, PhD is the founder of Out of the Blue, an ocean-CO2 removal start-up inspired by the research he did as a Fulbright scholar at UC Berkeley.

Lennart Joos

May 20 2022

Managing the uncertainty of Carbon Dioxide Removal

Illuminem Voices

Environmental Sustainability · Climate Change

Carbon dioxide removal (CDR) is having its moment. Astronomical amounts of public and private investment have been flowing into the space lately. While this is a hopeful signal, the current business model focusing on the carbon price alone does not capture the complexity of the market. Ironically, the price of oil, as a proxy of the price for energy, also plays a crucial role in the financial feasibility of CO2-related projects. Finally, well-meant energy subsidies are interfering with incentives to kickstart the economical deployment of CCS and CDR. This all has serious implications in the current macro-economical context of energy scarcity and security because of the war in Ukraine.