A new report looked at the development of geological carbon removal innovations around the globe, identifying that current U.S. uncertainty in this sector opens the door for other regions like Europe and the UK to emerge as leaders.
The report, named ‘The innovation race on geological carbon removal: who is best placed to lead?’, was published by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science.
In it, researchers note that the current potential CO2 funding cuts and support pullbacks in the U.S.—the most advanced country globally in carbon dioxide removal (CDR) innovations—might motivate investors to redirect funds towards other promising geographies, leading to the U.S. losing its competitive edge in this domain.
As the report highlights, while the U.S. has evidenced substantial CDR patenting and deployment on its territory, other countries in Europe like France, Germany, the UK, and the Netherlands also seem to stand out as well specialized in geological CDR innovation.
To gain a clearer perspective, researchers assessed data on global patenting registered in the period between 2000 and 2020, focusing specifically on innovations in bioenergy with carbon capture and storage (BECCS) and direct air carbon capture and storage (DACCS).
They note that countries with a rich background in oil and gas and other energy sectors are better positioned to deliver innovations in these technologies, and oil and gas companies have so far contributed to the advancement of geological CDR across countries like China, India, Saudi Arabia, the UK, and the US.
While the U.S. leads the chart as the largest BECC and DAC innovator, the list of top 10 most specialized BECC innovators includes Denmark, Belgium, the Netherlands, Spain, France, and the UK, and the leading specialized DAC innovators include France, the UK, the Netherlands, and Germany.
Relevant: Five European Countries Join Forces On CDR In New Nordic Carbon Removal Association (NCRA)
Additionally, the report stresses that due to its abundance of geological storage space, relatively low-carbon electricity supply, and oil and gas industry heritage, the UK is well poised to become a leading power in geological CDR, especially for DAC technologies, where the country ranks third in the chart of most specialized regions.
Read more: New Carbon Gap Report Highlights Opportunities For Turning The UK Into A Leading CDR Hub
