Climate change is an environmental issue impacting our entire planet, and carbon dioxide (CO2) is the primary culprit. Indeed, the NOAA Climate.gov website—which promotes public understanding of climate science and climate-related events—states that “the annual rate of increase in atmospheric carbon dioxide over the past 60 years is about 100 times faster than previous natural increases, such as those that occurred at the end of the last ice age 11,000-17,000 years ago.”
Canada-based Carbon Engineering Ltd. focuses on the global deployment of its Direct Air Capture technology, which captures carbon dioxide directly out of the atmosphere. And its working with partners around the world to build Direct Air Capture facilities that will capture one million tons of CO2 per year, which is equivalent to the work of 40 million trees.
Steve Oldham, CEO of Carbon Engineering, recently spoke with Regina Mayor, Global Head of Energy for KPMG International Limited, about topics including:
- Why he likens his company’s technology to a bathtub plug
- How the underlying Direct Air Capture technology works
- The total carbon footprint and energy intensity of the company’s technology, and the economics of it compared to traditional fossil fuels
- The company’s partners, which include Occidental, BHP, and Chevron, and why Bill Gates is interested in the technology
- How companies in the oil and gas industry can change the narrative from renewable energy to removing carbon from the atmosphere.
The views and opinions expressed herein are those of the interviewees and do not necessarily represent the views and opinions of KPMG LLP