Capturing Carbon Isn’t Enough. We Need to Remove It.
by Lara Williams (Bloomberg) on washingtonpost.com; March 18, 2023 at 8:03 a.m. EDT
„The US’s Inflation Reduction Act (IRA) and Bipartisan Infrastructure Act have together provided billions to support the development and deployment of carbon-removal approaches, including $3.5 billion for four DAC hubs alone. While the UK can’t compete in terms of cash, it could leverage its position as a world leader in research to nurture climate startups. Without more funding and regulatory support, UK climate innovations risk getting stuck in the so-called valley of death, a period in which a significant increase in funding is required to make the transition from academic research to commercialization. With the US offerings already tempting some startups to cross the pond, including Switzerland’s Climeworks AG, the UK could really miss out on the potential to create even more green jobs, level up its regional hubs and become an exporter of cutting-edge climate technology.“