Our Story
How we got to here
During the worlds lock-down that started in 2019, after twiddling my thumbs for several months and binge watching most TV, I started to investigate climate change, where we were, the causes and the future. My Nephew has recently had a son, so I'm a great Uncle and I am really worried for his future. The results that I found were horrifying and actually quite bleak.
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Research was geared towards the removal of 43 billion tonnes of Carbon from the atmosphere and the cost involved. So, the planet through the trees, the oceans, soil and rocks absorb carbon to the rate of about half the amount that is omitted, but the trouble is that in the atmosphere their sits about 7 trillion tonnes already there.
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The Paris Agreement wants Net Zero, what we actually need is a Negative number. We need to remove the yearly amount plus start to bring down the amount that is already there, so about 50 billion tonnes a year. Therefore the PPM level should come down, making a difference to climate change lowering the worlds temperature.
Sounds simple enough...
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There is a technology that removes carbon from the atmosphere called Carbon Capture and Storage (CCS) which can now convert this carbon into fuel or store it underground in old oil/gas fields or coal mines. Perfect, why don't we build enough of these units to take the carbon out of the atmosphere and if possible power the units by electricity produced from the carbon fuel. It's here that we now we have the problem, who will pay to build these. There is a factory in the US that can remove approximately 8.4 million tonnes a year, at a cost of £880 million. Working on these figures, to offset the worlds carbon expenditure we need to build 5200 units costing around £4.6 trillion.
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In reality the funds are not there, the pandemic has taken its toll on governments who have borrowed money to support their nation. This money will eventually have to be repaid. Businesses are not going to invest in projects that will not bring back a return on their investment. As governments are making companies go green, they will have a couple of options open to them. Both will require the removal of carbon which requires them to either build carbon capture facilities to there workplaces or purchase carbon from other firms that are building Direct Carbon Capture (DAC) facilities, where their business model will be to sell carbon to the companies without CCS. This will be the next major business, and eventually the costs will be levied on the general public, either in tax form or added to the cost of goods
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Is this a resolution to the issue?
The answer is YES
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However, it is going to take decades for the world to be completely compliant, and every day more carbon is being pumped into the atmosphere, effecting the climate even more.