• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Politicsclimate change

Biden administration makes largest ever investment in ‘engineered carbon removal’, spending $1.2 billion to vacuum up climate-warming gases in the air

By
Isabella O'Malley
Isabella O'Malley
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Isabella O'Malley
Isabella O'Malley
and
The Associated Press
The Associated Press
Down Arrow Button Icon
August 11, 2023, 6:45 AM ET
Trapping ambient CO2 could be a game-changing breakthrough in the fight against climate change.
Direct air capture could help remove climate warming gases from the atmosphere and help prevent more natural disasters from climate change.Getty Images
Add Fortune on Google for similar content.

The Energy Department announced Friday it is awarding up to $1.2 billion to two projects to remove carbon dioxide from the air in what officials said was the largest investment in “engineered carbon removal” in history.

Recommended Video

The process, known as direct air capture, does not yet exist on a meaningful scale and could be a game changer if it did so economically.

“If we deploy this at scale, this technology can help us make serious headway toward our net zero emissions goals while we are still focused on deploying more clean energy at the same time,” Energy Secretary Jennifer Granholm said in a press conference.

Project Cypress will be built in Calcasieu Parish, Louisiana. South Texas DAC will is planned for Kleberg County, Texas. Each claims it will capture up to one million metric tons of carbon dioxide per year. A representative of the Texas project said it will scale up to remove 30 million metric tons per year once fully operational. No date was given.

Officials said the projects will create 5,000 jobs for local workers and people formerly employed in the fossil fuel industry.

Also on the conference call, Louisiana Governor John Bel Edwards said his state is the best suited for projects that tackle carbon, with its experience in petrochemical manufacturing, its density of pipelines and geology.

The announcement shows the big bets the Biden administration is placing on technologies that capture carbon dioxide from the air and store it underground as a way to address climate change. It’s this gas more than any other that is heating the planet.

Several scientists agreed with making some investment in direct air capture.

Claire Nelson, a postdoctoral research scientist at Columbia University’s Lamont-Doherty Earth Observatory said moving away from fossil fuels and producing the things we need without emissions are the main ways to address climate change. But the scale of change needed makes direct air capture another necessary tool. “In order to have direct air capture ready at the scale we need it by 2050, we need to invest in it today,” she said.

Tim Lieuwen, executive director of the Strategic Energy Institute at the Georgia Institute of Technology agreed that the pollution from some kinds of heavy industry will need to be addressed with technologies like direct air capture.

“We need to look at reducing emissions as quickly as practically possible,” said Melissa Lott, director of research for the Center on Global Energy Policy at Columbia University.

“This means more efficiency, more clean energy, and the use of other technologies including carbon management,” she said.

Shannon Boettcher, professor of chemistry at the University of Oregon, said that direct air capture technologies are not yet cost effective, and are worth some investment in research and development.

But some others say the technology for sucking carbon dioxide out of the air is still in its infancy, funding it is misguided, and the focus should be on eliminating emissions.

“This money could be so much better spent on actual climate solutions that would be cutting emissions from the get-go,” said Jonathan Foley, executive director of Project Drawdown, a group that publicizes climate solutions. He cited energy efficiency and lowering emissions from agriculture, transportation, electricity generation as better approaches.

“What worries me and a lot of other climate scientists is that it potentially creates a fig leaf for the fossil fuel industry … the idea that we can keep burning stuff and remove it later,” Foley added.

It’s still unclear what role direct air capture will play in lowering emissions. Established technologies like solar, wind, and batteries continue to grow fast.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Isabella O'Malley
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

A former Fed colleague of Kevin Warsh on what to expect: ‘Plan for higher rates’
Bankingfed interest rate
A former Fed colleague of Kevin Warsh on what to expect: ‘Plan for higher rates’
By Catherina GioinoJune 29, 2026
3 hours ago
Putin admits Russia is ‘going through a difficult period’ as relentless Ukrainian drone attacks cut off fuel supplies
EnergyRussia
Putin admits Russia is ‘going through a difficult period’ as relentless Ukrainian drone attacks cut off fuel supplies
By The Associated PressJune 28, 2026
15 hours ago
Iran is forcing the U.S. into an escalation trap as a ‘shadow war’ over the Strait of Hormuz heats up that could kill the tenuous ceasefire
PoliticsIran
Iran is forcing the U.S. into an escalation trap as a ‘shadow war’ over the Strait of Hormuz heats up that could kill the tenuous ceasefire
By Jason MaJune 28, 2026
15 hours ago
Burnham’s rise revives talk of war bonds to fund the UK military
PoliticsBonds
Burnham’s rise revives talk of war bonds to fund the UK military
By Philip Aldrick, Lucy White and BloombergJune 28, 2026
18 hours ago
Ukraine’s drone attacks hit more Russian refineries and create fuel shortages in Siberia—thousands of miles from the war
EnergyUkraine invasion
Ukraine’s drone attacks hit more Russian refineries and create fuel shortages in Siberia—thousands of miles from the war
By The Associated PressJune 28, 2026
19 hours ago
Iran attacks Bahrain and Kuwait in response to U.S. airstrikes and threatens a ‘complete halt’ in peace talks as fighting over Hormuz continues
PoliticsIran
Iran attacks Bahrain and Kuwait in response to U.S. airstrikes and threatens a ‘complete halt’ in peace talks as fighting over Hormuz continues
By Jon Gambrell, Melanie Lidman and The Associated PressJune 28, 2026
19 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
4 days ago
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Success
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
By Orianna Rosa RoyleJune 28, 2026
22 hours ago
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
Success
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
By Preston ForeJune 28, 2026
22 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
1 day ago
Iran is forcing the U.S. into an escalation trap as a 'shadow war' over the Strait of Hormuz heats up that could kill the tenuous ceasefire
Politics
Iran is forcing the U.S. into an escalation trap as a 'shadow war' over the Strait of Hormuz heats up that could kill the tenuous ceasefire
By Jason MaJune 28, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.