Climate-focused public policy is like oxygen to our carbon dioxide removal (CDR) business. With it, we can thrive and grow; without it, we would quickly suffocate. Today, our business model relies on private buyers' willingness to invest in a pure public good. Put differently, every ton of carbon dioxide (CO2) we remove for a private buyer's benefit, also benefits everyone else on the planet.
Effective climate policy can ensure fairness and sustainability for both CDR buyers and developers by distributing the costs of carbon removal equitably among those responsible for excess CO2 emissions. Currently, only a small fraction of companies are voluntarily paying for CDR, while the majority continue to emit harmful CO2 without being held accountable for making the planet more livable.
When all emitters are equally required to protect the atmosphere, both the planet and CDR companies can thrive on a level playing field. That's why we are unwavering in our support for SB308, a bill that will help California meet its 2045 climate targets while also catalyzing the growth of CDR businesses.
For more on this, continue reading our Q&A with Matt Bright, Director of External Affairs at CarbonCapture Inc.