To tackle the climate crisis, it’s not enough to simply reduce emissions; we must also innovate solutions that remove carbon dioxide (CO2) from the atmosphere. The bipartisan Carbon Removal Investment Act, sponsored by Senators Michael Bennet (D-CO) and Lisa Murkowski (R-AK), takes crucial steps toward supporting U.S. companies seeking to remove CO2 pollution, including through marine CDR, while also protecting our ocean by establishing science-based environmental safety standards. As the world looks to meet ambitious climate goals, we must ensure our policies enable the responsible scaling of these essential technologies. LEARN MORE ?? Read the bill: https://lnkd.in/eRG93Zbc ?? Read the factsheet from Carbon Removal Alliance: https://lnkd.in/eFqcVznv
The new tax credit, potentially named 45BB, will be technology-neutral, meaning it will provide support to natural and engineered carbon removal approaches that are ready for deployment. This would widen the support approaches from the 45Qs focus on direct air capture (DAC) and bio-energy with carbon capture (BECCS) to enhanced rock weathering, marine carbon removal and those focused on using biomass. https://bit.ly/3YYCXJv