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Operationalizing the net-negative carbon economy.

ABSTRACT: The remaining carbon budget for limiting global warming to 1.5 degrees Celsius will probably be exhausted within this decade^1,2. Carbon debt³ generated thereafter will need to be compensated by net-negative emissions⁴. However, economic policy instruments to guarantee potentially very costly net carbon dioxide removal (CDR) have not yet been devised. Here we propose intertemporal instruments to provide the basis for widely applied carbon taxes and emission trading systems to finance a net-negative carbon economy⁵. We investigate an idealized market approach to incentivize the repayment of previously accrued carbon debt by establishing the responsibility of emitters for the net removal of carbon dioxide through 'carbon removal obligations' (CROs). Inherent risks, such as the risk of default by carbon debtors, are addressed by pricing atmospheric CO₂ storage through interest on carbon debt. In contrast to the prevailing literature on emission pathways, we find that interest payments for CROs induce substantially more-ambitious near-term decarbonization that is complemented by earlier and less-aggressive deployment of CDR. We conclude that CROs will need to become an integral part of the global climate policy mix if we are to ensure the viability of ambitious climate targets and an equitable distribution of mitigation efforts across generations.

SUBMITTER: Bednar J

PROVIDER: S-EPMC8356218 | biostudies-literature | 2021 Aug

REPOSITORIES: biostudies-literature

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Operationalizing the net-negative carbon economy.

Bednar Johannes J Obersteiner Michael M Baklanov Artem A Thomson Marcus M Wagner Fabian F Geden Oliver O Allen Myles M Hall Jim W JW

Nature 20210708 7872

The remaining carbon budget for limiting global warming to 1.5 degrees Celsius will probably be exhausted within this decade1,2. Carbon debt3 generated thereafter will need to be compensated by net-negative emissions4. However, economic policy instruments to guarantee potentially very costly net carbon dioxide removal (CDR) have not yet been devised. Here we propose intertemporal instruments to provide the basis for widely applied carbon taxes and emission tradin ...[more]

PMID: 34237772

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Project description:ConspectusTo say the least, releasing CO2 into the atmosphere is reaping undue environmental consequences given the ever-present increase in severe global weather events over the past five years. However, it can be argued that-at least in the confines of current technological capabilities-the atmospheric release of CO2 is somewhat unavoidable given that even shifting toward clean energy sources-such as solar, nuclear, wind, battery, or H2 power-incurs an initial carbon requirement by way of manufacturing the very production abilities through which "clean" energy is generated. Even years from now, experts agree that energy production will be diversified and-as the global population continues to drive the growth of global energy consumption-thermal power derived from carbon combustion is likely to remain one intrinsic energetic source, of which CO2 will always be a byproduct. In this context, it is the responsibility of the scientific community to devise improved pathways of carbon management such that (i) the consequences of combustion on the global environment are reduced and (ii) carbon fuels can be leveraged in a sustainable fashion.In this Account, we discuss a pivotal perspective shift on CO2 emissions derived from a considerable breakthrough in material science from our work on shape engineering of nanoporous adsorbents and catalysts. This account details the development of materials which no longer vilify CO2 emissions as a valueless combustion byproduct, instead providing a path for them to become a potential feedstock. In more specific terms, this work details the development of structured, cooperative "bifunctional" materials (BFMs) comprised of (i) a high-temperature adsorbent and (ii) a heterogeneous catalyst that enable single-bed CO2 capture and utilization in oxidative ethane dehydrogenation (ODHE), oxidative propane dehydrogenation (ODHP), and dry methane reforming (DMR) processes. This Account begins with the conceptual development of the BFMs in the powdered state, followed by detailing the first-ever reports of structuring the materials into facile honeycomb contactors by 3D printing. The Account then summarizes the impressive performance of the 3D-printed BFMs, specifically focusing on how their catalysts (metal oxides and perovskites) influence their reactive CO2 capture performances in ODHE, ODHP, and DMR processes. Such promise of CO2-as-fuel offers a glimpse into the future of a diversified energy economy, in which CO2/fuel looping can play an important role. A major factor in achieving this future is, of course, developing an appropriately active catalyst; an account of whose first breakthroughs in material science are detailed herein.

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Operationalizing the net-negative carbon economy.

Publications

Operationalizing the net-negative carbon economy.

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