Geoengineering technologies, once considered impractical and outlandish, are now being deployed in response to the worsening effects of climate change and the failure of nations to meet greenhouse gas emissions goals. Investors and entrepreneurs are spearheading efforts to mitigate climate change by implementing technologies such as infusing clouds with sulfur dioxide, vacuuming carbon dioxide out of the air, and adding iron to the ocean to sequester greenhouse gases. Despite concerns about the safety and efficacy of geoengineering, projects are moving forward, with some funded by oil and gas companies.
One of the largest projects currently underway is Occidental Petroleum’s direct air-capture plant in Texas, set to become operational next year. The plant captures carbon dioxide from the air by blowing air across water and then isolating the CO2 using chemicals before pumping it underground for sequestration. While most of the captured carbon dioxide will be stored in bedrock, some will be used to extract additional oil, leading to more greenhouse gas emissions. Similar projects, such as one in Iceland by Climeworks, do not sell any captured CO2 to oil companies.
Other geoengineering initiatives, such as releasing sulfur dioxide to block solar radiation and generating phytoplankton blooms that absorb carbon dioxide, are still in the early stages of research and development. Critics of current air-capture plants argue that these projects are costly, energy-intensive, and only capture a fraction of annual greenhouse gas emissions, potentially diverting attention from reducing fossil fuel emissions. Despite the concerns, the market for geoengineering ventures is projected to expand significantly, with investments expected to grow to $135 billion by 2040.
As the push for geoengineering technologies gains momentum, questions about their efficacy, safety, and regulation remain unresolved. The lack of international standards governing these technologies raises concerns about who should have the authority to alter the planet’s atmosphere and what criteria they must meet. With the potential for geoengineering to impact the entire planet, the need for global cooperation and oversight is crucial. While new technologies often gain traction before these questions are addressed, the urgency of the climate crisis underscores the importance of ensuring responsible and ethical deployment of geoengineering solutions.
