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How big is the carbon removal market today?
- dane-pgp 5y agoAn interesting analysis. It seems to stop just short of attempting to answer the really important questions, though. For example, it says: > This is based on a 2017 UNEP report that estimated we’ll need annual CDR of 10Gt will help achieve a 2°C scenario. and: > The average cost is $332 per ton So currently the annual cost to keep to that scenario is about $3 trillion per year. To put that in perspective, it's about half the amount that Covid-19 is thought to have cost the world in 2020 according to one estimate.[0] It's possible that the costs of CDR will go down as the technology scales up, but it's also possible that a relatively short economic stress like Covid-19 is easier to manage than a multi-decade commitment to funding CDR at a level like $100 billion per year, for example. [0] https://www.standard.co.uk/business/economy/how-much-has-the-pandemic-cost-the-world-s-economy-b473369.html https://www.standard.co.uk/business/economy/how-much-has-the...