The race to reduce carbon emissions is heating up, much like the planet itself is. But reducing emissions alone will not be enough to stop what's

These companies are sucking carbon out of the atmosphere — and investors are piling in

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2021-07-25 17:00:09

The race to reduce carbon emissions is heating up, much like the planet itself is. But reducing emissions alone will not be enough to stop what's happening.

It is not even enough to reach the goal of the Paris climate agreement, which is to limit global in this century to 1.5 degrees Celsius above preindustrial levels.

There is, however, a technology that's being touted as a way to get us there faster — vacuuming carbon from the atmosphere — and major investors are now piling in.

Just outside Zurich, more than a dozen massive fans are fast at work, cleaning the air of carbon dioxide. So-called direct air capture is the leading edge of what could become the largest environmental industry aimed at saving the planet.

The company behind it, Climeworks, is one of the few offering the technology to basically vacuum the atmosphere of carbon. The plant in Switzerland removes about 900 tons of carbon dioxide per year, according to Climeworks policy chief Chris Beuttler. To put it in perspective, globally we are emitting 40 billion tons.

Beuttler calls the plant a "drop in the bucket," but the bucket is getting bigger fast, as new companies like Climeworks, as well as governments, seek to monumentally expand what is called direct carbon capture.