Direct Air Capture tackles climate change challenge

The global response to climate change demands that the world makes profound changes to substantially reduce carbon emissions. This will require an arsenal of solutions, including dramatically increasing the share of renewable electricity, boosting energy efficiency, decarbonising industrial processes through innovative new processes, and changing the way we manage land and agriculture.

Great progress has been made on many of these fronts, but there is much more to do.

In fact, the recent 1.5C report by the UN’s Intergovernmental Panel on Climate Change concluded that the removal of emissions already in the atmosphere will be necessary to mitigate the worst effects of climate change.

That’s why today we announced our commitment to invest US$6 million in Carbon Engineering Ltd (CE) to progress the development of a ground-breaking technology to reduce carbon emissions. Along with other shareholders such as Bill Gates and Oxy Low Carbon Ventures, our investment will accelerate the development of Direct Air Capture (DAC), which removes CO2 from the atmosphere.