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one promising business development is carbon capture and storage. this involves capturing the carbon dioxide emitted from power plants and burying it in the ground. this method can be used in a wide range of industries, including oil refineries, cement plants, gas plants, and fertilizer plants.


large-scale carbon capture and storage is still in the early phases of development. few carbon capture and storage facilities have been in operation for more than a decade. even fewer have been demonstrated to be cost-competitive compared to existing technologies, such as gas turbines and modern power plants. almost all of these projects are in north america.


if carbon pricing is to succeed as a climate policy, it must be coupled with technologies and processes that lead to a deep reduction of carbon emissions. these technologies do not yet exist, which means that carbon pricing is the only proven mitigation tool that can meet climate goals.


all nations are vulnerable to the effects of climate change. a globally coordinated response to climate change in the next few years is the best way to prevent the most damaging impacts of climate change and to protect the economic livelihoods of millions of people.


by 2100, climate models project that global temperatures will rise by 4 to 6 degrees celsius, and models show that the land and ocean carbon cycles will follow them. that is likely to mean that less carbon will be stored in the land and oceans and so more will be in the atmosphere and remain there for longer.


at a recent meeting of the intergovernmental panel on climate change, eileen claussen, acting chair of the panel, said that the absorption of carbon dioxide emitted into the atmosphere by humans could become the real threat, as carbon dioxide accumulates in the atmosphere. the ocean and soil will contain more, which could lead to tipping points if they are not stabilized, for example, by reducing the extraction of other minerals from the soil and oceans or increasing carbon-sequestering plants and soils. a recent study suggested that by 2050, 1.2 gigatons of carbon could be released every year in the absence of any policy change. 84d34552a1