TOKYO | SAN FRANCISCO — Today the Global CO2 Initiative released key findings on the state of carbon dioxide utilization (CO2U) technologies at the 3rd Innovation for Cool Earth Forum (ICEF) in Tokyo, Japan. The findings are set forth in a draft roadmap prepared as part of the ICEF Innovation Roadmap Project with support from Japan's Ministry of Economy, Trade and Industry and New Energy and Industrial Technology Development Organization.
With the Paris Climate Agreement entering into force, it will be critical in the years ahead to develop solutions and applications to keep global temperature rise below 2 degrees Celsius. That is why the Global CO2 Initiative has developed a global Roadmap for Implementation of Carbon Dioxide Utilization Technologies as a guide for policy makers, industry members and the research community to seize on the enormous economic and climatological opportunities ahead. The Roadmap builds on the presentations and dialogue at a workshop on CO2U hosted this summer by Columbia University's Center on Global Energy Policy and Engineering School.
After assessing almost 180 global technology developers on the basis of their technology feasibility, readiness, markets and momentum, initial research has revealed significant progress in CO2U has been made from 2011-2016, with many technologies shown to be scalable. Specifically, momentum is favorable in four major markets: building materials, chemical intermediates, polymers and fuels.
The Roadmap is based on three multi-dimensional (public policy, technology R&D and business strategies) scenarios that will impact market development. Increased funding and incentives are necessary for some of the markets to accelerate development and achievement of full-scale capability.
The final results and recommendations will be delivered during the 22nd Conference of Parties to the UN Framework Convention on Climate Change in Morocco (COP22) this November.
"This Roadmap is only the first step in highlighting the vast opportunities that exist in meeting our climate objectives with CO2U technologies, and I look forward to discussing these proposed solutions further during COP22," said Dr. Issam Dairanieh, CEO of CO2 Sciences, Inc., the research and development arm of the Global CO2 Initiative. "Japan is especially positioned to be a major player in this area given their expertise on hydrogen generation which is found to be critical for making a number of important products such as polymers, fuels and chemicals," Dr. Dairanieh added.
"Carbon dioxide utilization can play an important role in fighting climate change," said David Sandalow, Inaugural Fellow at the Center on Global Energy Policy at Columbia University, who serves as Chair of the ICEF Innovation Roadmap Project. "This Roadmap will help shape and guide work on carbon dioxide utilization globally. The ICEF Innovation Roadmap Project welcomes the chance to further contribute to work on CO2U technologies and draw attention to the need for increased R&D in this space."
To view the Roadmap's Executive Summary and learn more about CO2U commercialization scenarios and potential impacts on CO2 emissions, please click here.About The Global CO2 Initiative:
The Global CO2 Initiative was created to realize the ambitious goal of capturing 10% of global CO2 emissions and transforming them into valuable products. CO2 Sciences, its innovative research and development platform, is structured to aggressively catalyze funding in carbon capture and use by granting up to $400 million over ten years to many qualified research applicants throughout the world. In parallel, the Global CO2 Initiative will accelerate the commercialization of CO2 based products and services. It will use different financial vehicles to invest in companies, enabling them to grow market demand for CO2 based products. For more information, visit www.globalco2initiative.org and follow the Global CO2 Initiative on Twitter: @reuseCO2