Direct Air Capture Hubs & Major Carbon Removal Initiatives: Statement
FOR IMMEDIATE RELEASE: August 11, 2023
The U.S. Department of Energy Announces Direct Air Capture Hubs & Major Initiatives to Scale Carbon Removal: Carbon Business Council Statement
The U.S. Department of Energy (DOE) announced major new initiatives and funding to scale carbon removal this week. The funding includes $1.2 billion in awards for the Regional Direct Air Capture Hubs, focused on direct air capture (DAC) projects that have the potential to remove 1 million metric tons of carbon dioxide annually. DOE announced 19 additional projects selected for award negotiations that will support earlier stages of project development for viability of future DAC Hub demonstrations. The announcements this week also include a Notice of Intent to launch a Responsible Carbon Management Initiative, a Notice of Intent to issue Carbon Negative Shot Pilots, and $13 million in funding for carbon management research and development.
The Carbon Business Council, a nonprofit coalition of more than 100 carbon management companies, has issued the following statement in response. The statement can be attributed to Ben Rubin, Executive Director:
“The Carbon Business Council applauds the Department of Energy for their continued leadership advancing climate action. The newest initiatives are a significant step forward for carbon removal, which will boost private sector investments and create high-quality jobs. Reaching gigaton scale carbon removal requires a holistic and technology neutral approach, which is reflected in the announcements this week.
The Responsible Carbon Management Initiative is a welcomed effort to ensure that carbon management scales responsibly. The inclusion of Community Benefits Plans for the Direct Air Capture Hubs will help to ensure that carbon removal benefits are maximized for local communities.
Congratulations to the Direct Air Capture Hub winners and applicants. The mounting impacts of climate change make this a pivotal moment to responsibly scale carbon removal, in tandem with the crucial work of significantly reducing emissions.”
The federal government is advancing a range of pathways to scale carbon removal and Energy Department initiatives like the Carbon Negative Shot take a tech neutral approach. The Carbon Business Council’s Ethical Oath to Restore the Earth, focused on responsibly scaling carbon management, has received more than 100 signatures. Earlier this summer, the Carbon Business Council published an issue brief on Defining Carbon Removal, focused on a method-neutral and criteria-based approach. According to the World Resources Institute, scientists predict that up to 10 gigatons (10 billion metric tons) of CO2 will need to be removed annually from the atmosphere by 2050, in tandem with the important work of reducing emissions.
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Carbon Business Council (CO2BC), a member-driven and tech-neutral trade association of companies unified to restore the climate, is the preeminent industry voice for carbon management innovators. Together, the nonprofit coalition represents more than 100 companies and organizations across six continents with more than $16.5 billion dollars in combined assets.
