Towards Freezing Global Warming

Abstract

Numerous policies have been proposed to mitigate the problem of climate change as reducing emissions alone will not be sufficient. Carbon Capture and Storage (CCS), which captures carbon at the source, and Negative Emissions Technologies (NETs), which remove carbon from the atmosphere, are two of the most important strategies currently used to combat global warming. Existing technologies, however, are widely believed to be too expensive to implement on a global scale. The estimated total cost of climate change varies greatly, for example, 178 trillion dollars over the next 50 years. Economists have frequently emphasised the importance of minimising expenditure while meeting climate goals. According to new research, NETs may be more cost-effective and less disruptive than various forms of CCS. We anticipate that NETs based on plant growth and biomass freezing in seawater will be the most cost-effective option for capturing and storing 10 gigatonnes of carbon per year, with an operating cost in the order of $50/t CO2. To reverse global warming, policies at the national, transnational, and international levels will need to be overhauled.