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Title page
Contents
1. Introduction 6
2. Net Zero: The Goal and the Gap 8
3. Carbon Dioxide Removal Technologies and Costs 10
3.1. Technological Options 10
3.2. Conventional versus Novel Technologies 13
3.3. CDR Cost Estimates 14
4. Criteria for CDR Policy Analysis 16
5. Current US CDR Policies 18
5.1. Policies for Stimulating Forest Carbon Removal 19
5.2. Policies for Stimulating Use of DAC and BEC 20
5.3. RD&D Policies and Investment Initiatives for DAC and BEC 21
5.4. Policies and Regulatory Frameworks for CO₂ Transport and Storage 23
5.5. Mechanisms for Addressing Equity in Benefits of CDR Expansion 24
5.6. Environmental Considerations 25
5.7. Monitoring, Reporting, and Verification Challenges 26
5.8. Policy Responses to Implementation Challenges 28
6. Policy Recommendations for Initiating the CDR Transition 33
6.1. Policies to Increase Conventional Land-Based CDR 33
6.2. Policies for Catalyzing Increased Investment in DAC and BEC Technologies 35
6.3. Policies Governing CO₂ Transportation and Storage 38
6.4. Benefits Sharing 39
6.5. Ancillary Environmental Consequences and Environmental Justice 40
7. Policy Recommendations for Achieving Net Zero by Midcentury 41
7.1. Cost-Effective CDR and ER 42
7.2. Achieving Cost-Effective Policy: Cap-and-Trade or Carbon Pricing with CDR (CAT+ and CP+) 43
7.3. Different Approaches to Midcentury CDR Policy 45
7.4. Other Midcentury Policy Scenarios 47
7.5. Overshooting and the Need for Net-Negative Emissions (beyond Midcentury) 51
7.6. Sequencing of ER and CDR Policies over Time 51
8. Conclusions 53
9. References 55
Table 1. Technology Readiness Levels and Applicable Policies for Technology Advancement 36
Figure 1. Status Quo: Not Enough CDR or ER 9
Figure 2. Midcentury Net Zero: CDR Removes Residual Emissions 9
Figure 3. Scenarios for Expanding Conventional and Novel CDR 14
Figure 4. Marginal Costs of CDR and ER Determine Cost Minimizing Balance 43
Figure 5. A Compliance Cost Cap 48
Figure 6. CAT+ or CP+ with Capped CDR 50
Figure 7. Net-Zero Gap Created by Excluded Sectors 50
Boxes
Box 1. Summary of BECCS and DACCS Technologies 12
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