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The world faces a stark reality: thousands of companies have now made commitments to cut their emissions in half by 2030 and reach net zero by 2050. Yet the money hasn’t followed.

In a South Pacific nation ravaged by logging, several tribes joined together to sell “high integrity” carbon credits... The project not only preserves their highly biodiverse rainforest, but it funnels life-changing income to Indigenous landowners.

The challenges to implementing the technology are immense. The world needs to capture more than 1 billion metric tons of carbon dioxide annually by 2030, more than 20 times the 45 million metric tons captured in 2022, according to the IEA.

"...It’s really a path forward for decarbonization because we can take CO2, which is a greenhouse gas, and turn it into things that are useful for chemical manufacture,”

To use the analogy of a bath tub: as well as striving to reduce the amount of water flowing into the tub, we also need to start drilling holes at the bottom to slow the rise of the water level, and eventually bring it down.

"This is exactly what has to happen - this alignment with large industrial partners who have the capacity, the access to capital, the skills to actually scale DAC to a meaningful level," -CarbonCapture CEO Adrian Corless

Amid the global energy crisis and economic issues, revenues from carbon credits traded in emissions trading systems (ETS) and carbon taxes hit record high in 2022 reaching almost $100 billion, per the World Bank carbon pricing report.

The Alaska House of Representatives passed a bill that would allow the state to set up a system for using state land to sell carbon-offset credits. The action amounted to final passage of the bill, which has been approved by the state Senate.

The U.S. Department of Energy (DOE) has opened a $2.25 billion funding program for carbon sequestration or CO2 capture and storage projects to more applicants after selecting the first batch of 9 winners with a $242 million funding round.