Cleaner Tech

Big Bets on Speculative Carbon Capture Tech Ignore Today’s Solutions

Investors and buyers are backing futuristic carbon cleanup technologies rather than ones working at scale now.

Illustration: Petra Péterffy for Bloomberg Green

The first step in reducing the risks of climate change is cutting carbon emissions. The world hit a notable milestone on that front, with global energy-related emissions likely peaking last year, according to a recent BloombergNEF report.

Now, the world’s carbon pollution is likely to begin a long, inexorable decline over the coming decades. But there’s a catch: Emissions almost certainly won’t fall fast enough to limit global warming to 2C, let alone meet the 1.5C target set in the Paris Agreement.