Saving the planet - one post at a time.

Tag: Transportation

MIT: Carbon removal hype is becoming a dangerous distraction

conceptual image showing a smoke stack blowing smoke into a large butterfly netSELMAN DESIGN
July 8, 2021

In February, oil giant Shell trumpeted a scenario in which the world pulls global warming back to 1.5 ˚C by 2100, even as natural gas, oil, and coal continue to generate huge shares of the world’s energy.

Among other things, Shell’s pathway involves rapidly installing carbon capture systems on power plants, scaling up nascent machines that can suck carbon dioxide directly out of the air, and planting enough trees to cover land nearly the size of Brazil in the hopes of absorbing billions of tons of the greenhouse gas.

This plan might be transparently self-serving, but Shell’s outsize ambitions for carbon removal are far from anomalous. A growing number of companies are setting up programs to create or trade carbon offsets, using tree planting, soil management, and other means to purportedly balance out emissions elsewhere. Meanwhile, numerous corporations and nations are announcing “net zero” emissions plans that rely upon these programs, and rapidly proliferating carbon-removal startups are highlighting what some consider overly rosy projections in their investor pitch decks.

The noise, news and hype are feeding a perception that carbon removal will be cheap, simple, scalable, and reliable—none of which we can count on.

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Forbes: Moscow Discovers Climate Change Can Be Good Business

Dec 4, 2020

Kenneth Rapoza

Kenneth Rapoza

Snowy weather in MoscowRussians play in the snow on November 21, 2020.  MIKHAIL JAPARIDZE/TASS

“Green is good” has replaced that old 1980s Wall Street mantra: “Greed is good.”

Even the oil rich Russians have discovered it. They’re not alone.

City planners, start-up entrepreneurs and big business are all discovering that concern over climate change is leading to entire new industries. Or fresh demand for old ones – like solar panels that became a thing in the 1970s; new battery powered car companies like Lordstown Motors, and really old school stuff like bicycles and electric powered scooters that are part of the so-called Mobility-as-a-Service (MaaS) movement.

Moscow is home to some of Russia’s biggest ESG investors. Who knew?

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