WASHINGTON : More than 20 companies in the burgeoning carbon removal industry on Thursday launched a coalition that will lobby the U.S. government for new policies to help commercialize the nascent technology, which has received a flood of private investment in recent years.
For years, technologies such as direct air capture, which extracts carbon emissions from the ambient air, had been seen as fringe ideas. But after the passage of the federal infrastructure bill and the Inflation Reduction Act, investors have been pouring millions into the emerging field. "Together, we will work to realize the potential of the trillion-dollar carbon removal industry — catalyzing innovation, creating high-quality jobs, driving economic development, and ensuring we achieve our climate goals," the CRA said in a statement.