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To approach net-zero emissions, the world may need to rapidly scale up carbon removal technologies.
On May 21st, 2023, The Economist asked "Can carbon removal become a trillion-dollar business?." The article reported on an analysis from ExxonMobil:
In April ExxonMobil unveiled plans for its newish low-carbon division, whose long-term goal is to offer such decarbonisation as a service for industrial customers in sectors, like steel and cement, where emissions are otherwise hard to abate. The oil giant thinks this sector could be raking in annual revenues of $6trn globally by 2050.
Current estimates of the carbon removal market range from to $485 million to $5.99 billion. Some analyses have concluded that a $1 trillion market is plausible.
| Indicator | Value |
|---|---|
| Stars | ★★★☆☆ |
| Platform | Metaculus |
| Number of forecasts | 49 |
To approach net-zero emissions, the world may need to rapidly scale up carbon removal technologies.
On May 21st, 2023, The Economist asked "Can carbon removal become a trillion-dollar business?." The article reported on an analysis from...