The UK must push for engineered removal plants to be up and running by no later than 2030 while also delivering 5-10 metric tonnes of carbon dioxide equivalent (MtCO2e) of removals per year in order to get ahead of national climate targets, according to a report from the National Infrastructure Commission (NIC).
As most industrial sectors work towards their net zero carbon goals, the report states that, despite efforts to eliminate carbon emissions, sectors such as agriculture and aviation currently have no available technologies that can reduce or prevent all emissions.
Given this disadvantage, the NIC has urged the UK government to invest in a strategy to ensure wide-scale facilities that work to engineer carbon removals are deployed by 2030. The costs involved in carbon dioxide (CO2) removal are high and the NIC suggests that polluting industries should bear the costs as opposed to taxpayers.
Eventually, it is foreseen that the government will be able to transition to a competitive market, allowing the new engineered carbon removal sector to generate revenues of £2bn by 2030, potentially in the tens of billions by 2050.
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