Climate Solutions
Advancement Network

 

Facilitating investment in Climate Solutions and initiatives to encourage action on climate change.

.

Welcome to ClimateSAN

Based on the rising greenhouse gas levels in the atmosphere, including CO2, it is apparent that the current level of action on climate change is not nearly sufficient. To implement action on the scale that is needed globally, broad-based support is needed. Therefore, ClimateSAN is focused on helping to build this needed support.
To view a 2 min. introductory video about this trend in greenhouse gases, the expected impacts of this trend, and what can be done about it, visit Current Climate Warming Trend, Expected Impacts & What Can Be Done?
Given below are three initiatives we are implementing:

1. Large-Scale Carbon Emission Mitigation Initiative: Creating awareness and facilitating implementation of a major new opportunity for large-scale carbon emission mitigation that has emerged due to rapid advances in four key technology areas, which include power generation with carbon capture, direct air capture (DAC), energy storage and renewable energy.  To learn more, click on this link below to see this article:

Business Opportunities Creating Large-Scale Carbon Emissions Mitigation
Generating Reliable Power While Creating Negative Carbon Emissions

As part of work to facilitate implementation, we are developing a project that demonstrates how these four technologies can be combined to generate reliable power to the electric grid while generating negative carbon emissions.

2. Accelerating Climate Solutions – We have developed an initiative with two streams to accelerate the development and scale up of Climate Solutions by introducing these Climate Solutions to wealthy investors. The first stream has been launched and focuses on proven, investment-ready solutions and the second stream, which focuses on promising early stage solutions, is expected to be launched in the near future.  For more information, see: LINK.

3. Africa Climate Action Initiative (ACAI), which is an initiative lead by the Canada Africa Partnership (CAP) Network with support from the ClimateSAN and ClimateFast.  ACAI seeks to enable communities across the continent to mitigate and adapt to climate change through the combination and application of impactful technologies.  For more information, see: ACAI.
.

Business Opportunities Creating Large-Scale Carbon Emissions Mitigation
Generating Reliable Power While Creating Negative Carbon Emissions 

Carbon Dioxide (CO2) levels are rising at an increasing rate globally, leading to forest fires, flooding and/or violent storms, and other environmental disasters that are causing climate induced migration. The Institute for Economics and Peace (IEP) estimates the climate crisis could displace 1.2 billion people by 2050. Large scale action is needed to combat the disastrous effects of climate change.  

A major opportunity has emerged to generate reliable power while capturing and sequestering CO2 from the atmosphere, and can be implemented on a global scale. This has been made possible due to advances in four technology areas that can be combined into one larger system. These technology areas include power generation with carbon capture, direct air capture (DAC), energy storage, and renewable energy. When combined, these technologies can provide reliable power to the electrical grid and generate substantial negative carbon emissions at the same time. In addition to scaling up renewable energy, this can help the oil and gas sector transition to and participate in a low carbon economy. If implemented around the world, this approach could reduce carbon emissions by billions of tonnes per year.

In addition to being stored in the ground, CO2 can be utilized for a range of uses including vertical farming, increasing the strength of concrete, and making carbonated beverages. Therefore, as reliable sources of CO2 become available around the world, it can be expected that utilization of this resource will increase.

While the cost of DAC is quite high at this time, it has been declining quickly. For instance, the cost of capturing and sequestering a metric tonne of CO2 in the new plant by Climeworks in Iceland was reported to be in the range of 600 to 800 US dollars. There are several other companies developing DAC technologies. Some of them are indicating that they can capture CO2 for less than $100 per tonne when their respective technology is being implemented on a commercial scale.  

Facilities that enable long term carbon storage have been rapidly growing and there is now increased availability of climate finance including carbon-tech funding. This combined with the technologies mentioned above have created many new business opportunities around the world that can help substantially reduce global carbon emissions, create jobs, and enable economic growth at the same time. 

Progress can be further accelerated by organizations taking the initiative to develop projects in collaboration with these relevant technology communities and accessing the available financing. This would result in a faster rate of development and scale-up of technologies to reduce carbon emissions.

Several funding sources are available to accelerate technology development and scale-up, such as venture capital, government grants and related incentives, private grant funding, crowd-funding and loans. To help companies obtain capital to build a facility, online platforms like Puro-Earth help facilitate long-term contracts for the carbon that is expected to be captured and stored by this facility. As well, to make investments in substantial projects more attractive to investors, these projects can be refinanced with Green Bonds after they are operational and generating income.

A very important feature of the combination of technologies is that it is not dependent on any one technology. As a result, organizations that want to implement this combination of technologies have many choices and can and should choose their best options.

To accelerate the implementation of this combination of technologies, ClimateSAN invites sustainable energy research centres around the world to collaborate with each other as well as with our team to develop and implement demonstration projects that each contain a combined power system along with carbon capture. In addition, we recommend that these research centres invite local project developers to collaborate with them to develop a plan and budget for at least one full-scale combined power facility in their respective regions.

Over 200 companies have committed to NetZero Carbon by 2040 and 21% of 2,000 of the world’s largest public companies, representing sales of nearly $14 trillion, now have committed to net zero by 2050.  Many of these companies will need to purchase carbon emission credits to meet their commitments.  Therefore, demand for these credits can be expected to grow rapidly, which can generate substantial revenues for companies implementing these combined power systems with carbon capture and storage. 

More than 140 countries have announced or are considering net zero targets, covering 90% of global emissions. These commitments will create an even greater demand for this combination of technologies.  Therefore, this approach can become a very profitable way for companies to help countries around the world achieve their respective climate goals. At COP26, there was an agreement on the carbon market elements of the Paris Rulebook. According to the International Emissions Trading Association (IETA), the guidance for Article 6 sets up a new structure for carbon markets to work in the service of the Paris Agreement goals. Therefore, we expect substantial revenues can be earned by companies that generate reliable electricity and create negative emissions at the same time using this combination of technologies.  

For more information about this opportunity, including a short animated video illustrating it, see: ClimateSAN.org/acem.


As part of its work to build broad-based support for large scale climate action, ClimateSAN hosted a conference about climate, security, solutions and finance in conjunction with the NATO Association of Canada and the Modern War Institute at West Point on May 18th & 19th, 2021: Impacts of Climate Change on Human Security: What Can Be Done?  To view video recordings of the sessions in this conference along with links related information, see: Conference Summary.

We welcome you to join us in taking action.  To learn how, visit: Current Climate Warming Trend and Call to Action.