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Globally, the benefits of keeping warming under 2 °C exceed the costs. [123] Economists estimate the cost of climate change mitigation at between 1% and 2% of GDP. [124][125] While this is a large sum, it is still far less than the subsidies governments provide to the ailing fossil fuel industry.
The global capacity for underground CO 2 storage is potentially very large and is unlikely to be a constraint on the development of CCS. [16]: 112–115 Total storage capacity has been estimated at between 8,000 and 55,000 gigatonnes. [16]: 112–115 However, a smaller fraction will most likely prove to be technically or commercially feasible.
Carbon sequestration is the process of storing carbon in a carbon pool. [2]: 2248 It plays a crucial role in limiting climate change by reducing the amount of carbon dioxide in the atmosphere. There are two main types of carbon sequestration: biologic (also called biosequestration) and geologic. [3] Biologic carbon sequestration is a naturally ...
In some quarters, the idea of carbon capture and storage is gaining traction. Storing CO2 underground could help the fight against climate change. But cost is a big problem
Climate engineering. Climate engineering (or geoengineering) is an umbrella term for both carbon dioxide removal and solar radiation modification, when applied at a planetary scale. [1]: 168 However, these two processes have very different characteristics. For this reason, the Intergovernmental Panel on Climate Change no longer uses this ...
Climate change mitigation policies can have a large and complex impact on the socio-economic status of individuals and countries This can be both positive and negative. [297] It is important to design policies well and make them inclusive. Otherwise climate change mitigation measures can impose higher financial costs on poor households. [298]
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