Canada’s innovators have some ideas for sinking our carbon problem.
Startups are working on new ways to cut emissions and take carbon dioxide out of the air.
After a brief lull during the pandemic, we’re back to our old habit of blowing past climate-change targets. Greenhouse gas emissions are rising again and reached their highest-ever level last year. As a recent report from the International Energy Agency put it, “the world has not heeded the call for a sustainable recovery from the COVID-19 crisis.”
With the clock ticking toward 2030 — widely seen as a make-or-break deadline to start making serious headway in tackling climate change — experts are getting nervous. They are now starting to look seriously at technologies that go beyond simply curbing emissions to those that can also take carbon dioxide out of the air.
“The latest scientific reports tell us that rapid decarbonization is critical,” says Chris Webb, global head of carbon markets at HSBC, which plans to provide up to U.S.$1 trillion in finance and investment by 2030 to support its customers in decarbonizing and accelerating the adoption of new climate solutions. “However, they also now show that even with swift reductions in greenhouse gas emissions we will still need to remove GHGs from the atmosphere to meet the Paris Agreement targets.”
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