To speed up global emissions reductions, Elon Musk tweeted that he intends to donate $100 million towards a prize for best carbon capture technology.
Global warming is one of the greatest challenges of our time that can lead to irreversible changes if we do not change our societies to become more sustainable. This is the insight of both world leaders and companies around the world that has ushered in a new global race to develop green technology. Investments in renewables have skyrocketed in recent years, while fossil fuel investments are declining rapidly, especially in Europe and the United States.
One technology that is highlighted to quickly reduce emissions is CCS, Carbon Capture and Storage . The technology is used to suck up emissions from the air and then encapsulate it and send it for storage, or manufacture products from it. This is what Elon Musk tweeted out that he intends to donate 100 million dollars towards.
In Sweden alone, some argue , the introduction of CCS technology in 27 companies could halve Sweden's total emissions. If the technology were to be implemented globally together with other measures that increase sustainability, the chances would increase dramatically that the Nordic country could reach the Paris Agreement.
Elon Musk was recently able to call himself the richest person in the world after new successes with his Tesla shares. Musk also signed the Giving Pledge in 2012, with the promise to donate at least half of his fortune to charity. The fact that the new year begins with Musk choosing to donate 100 million dollars in favor of creating a better climate could not have been more welcome.
Photo: James Duncan Davidson. Copyright: CC BY-NC 3.0.