2.2 Rapid Expansion of Carbon Capture Approaches

Various initiatives are actively exploring ways to remove carbon dioxide from the atmosphere. The field is growing very fast with a diverse range of approaches and technologies. These approaches can be broadly categorized based on where the carbon is captured – ocean, land, or air – and how it is removed – biological, chemical, or industrial method.

Reservoir of CO2

• Ocean-based solutions include iron fertilization to stimulate phytoplankton growth, which absorbs CO2 and sequesters it on the ocean floor upon decomposition.

• Land-based solutions encompass enhanced weathering, where silicate-based rocks are scattered on fields, reacting with acidic rainwater to form carbonates that eventually sequester CO2 in the ocean as sediments.

• Air-based solutions range from plant based capture (photosynthesis) as well as direct air capture technologies, which filter air and extract CO2 for storage.

While nature-based solutions like forests and grasslands capture CO2, their sequestration capacity is mostly short-term. The total CO2 currently stored in the planet's plant life is estimated at 700 gigatons, a third of the amount that needs to be removed. Moreover, the risk of reversal due to forest fires or decomposition is high, making these solutions insufficient to reverse global warming.

The rapid development of new solutions and approaches makes it essential to adopt an agnostic and holistic perspective. Successfully navigating this dynamic environment requires the ability to manage diversity and complexity, and track ongoing innovations.

Carrot is designed to be very flexible and open, while focusing on making the market trustworthy and fair.