Global leaders in the Direct Air Capture ecosystem joined together a few weeks ago at the inaugural Global Direct Air Capture Conference in New York to discuss how best to responsibly accelerate the development and advancement of DAC technology.
In terms of takeaways, the dominant themes emanating from the conference included:
Opportunities and Challenges:
Powered by collaboration, research, and diverse approaches, DAC's potential as a legitimate carbon capture technology and, therefore, a positive contributor to climate change mitigation is real. Establishing a scientific basis for DAC, addressing skepticism, enhancing data transparency, and setting clear standards among policymakers are some of the challenges the industry faces collectively.
Diversity of DAC Solutions:
With “no silver bullet” when it comes to DAC, conference attendees underscored the need for industry participants to develop a diverse portfolio of DAC solutions that can serve multiple industries. While different companies and organizations presented their unique take on DAC, it is evident that no one specific approach will work universally. Standards need to be flexible and fit for purpose.
Collaboration and Social Impact:
Collaboration remains a recurring theme, both in terms of industry partnerships and involving the public and academia. The social impact of DAC and the importance of addressing climate justice issues and community engagement were also among the highlights.
Urgency and Efficiency:
There is a sense of urgency to address carbon capture and move efficiently, both in terms of technology and processes, towards a global approach.
Additional US government funding and tax incentive programs such as 45Q are available to potentially help the industry more effectively promote and develop carbon capture, utilization, and storage (CCUS) technologies and solutions.
Overall, the prevailing attitude at the conference was one of optimism and enthusiasm. While challenges and complexities were acknowledged, there is a pervasive collective determination to advance DAC technology, with conference attendees passionately committed to navigating the road ahead to achieve the industry's goals and targets.