That raises an important question: what is the cheapest way to abate carbon? Only a fifth of the world’s emissions are covered by an explicit price. Even in Europe, the world’s biggest liquid carbon market, free credits still allow many industries to continue polluting. The cost of wind-energy subsidies can range from more than US$260 per tonne of carbon dioxide avoided, to close to zero. Then come “hedging” strategies: long-shot options to develop, just in case, such as direct-air-capture, which sucks carbon dioxide from the atmosphere.

Source: Stuff February 23, 2021 23:15 UTC