New XPrize Accelerates the Fight Against Climate Change
XPrize Carbon Removal aims to sequester 10 gigatons of CO2 per year by 2050
The XPrize Foundation recently announced the largest prize in its history. The foundation partnered with Elon Musk and the Musk Foundation to offer $100M for innovations designed to reduce carbon dioxide in the air and oceans. Registration for XPrize Carbon Removal begins on Earth Day 2021. The contest aims to spur innovation, raise awareness, and accelerate the development of new technologies and ideas. Teams will have just four years to obtain measurable results, but the timeline is tight for a reason. The effects of climate change are already being felt around the world. The question is whether the XPrize will successfully change the trajectory of climate change when so many other endeavors have stalled.
Carbon dioxide is a potent greenhouse gas and major contributor to climate change. Reaching carbon neutrality (where the amount of carbon emitted is exactly offset by the amount removed through natural or manmade processes) is not enough. In order to avoid the worst effects of climate change, we need to sequester 6 gigatons of carbon dioxide per year by 2030 and 10 gigatons per year by 2050. For that reason, XPrize Carbon Removal focuses on solutions that will actively remove carbon dioxide from…
