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Air Capture & Carbon Negative Technology ™ The Global Context

Air Capture & Carbon Negative Technology ™ The Global Context. In the Short and the Long Run Graciela Chichilnisky - www.chichilnisky.com Columbia University & Global Thermostat – www.globalthermostat.com Oxford University Martin Geoengineering Programme 15 October 2012.

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Air Capture & Carbon Negative Technology ™ The Global Context

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  1. Air Capture&Carbon Negative Technology™The Global Context In the Short and the Long Run Graciela Chichilnisky - www.chichilnisky.com Columbia University & Global Thermostat – www.globalthermostat.com Oxford University Martin GeoengineeringProgramme 15 October 2012

  2. A Human Dominated World Human Beings are today the largest geological force in the planet We are changing the planet’s atmosphere, its body of waters, and the complex web of species that makes life on earth Climate Change?

  3. The Anthropocene The change we are producing will be read in rock formations for thousands of years Geologists define a new geological era - the ‘Anthropocene’ – follows the Holocene – it started in 1945 The Bretton Woods Institutions after WWII led to Globalization of Western Economics

  4. Global Risks • Climate Change • Biodiversity Extinction • Clean Water scarcity • Life in the Seas going extinct Avoiding Extinction

  5. Are Humans Next? • Need Action Now • Waited too long • Industrial economies 20% of world population cause most of world’s C02 emissions – the North Energy from fossil fuels 45% of global emissions $55 Trillion Infrastructure 89% based on fossil fuels (IEA) Clean Energy is the Only Solution

  6. Sources: Earthtrends Database of the World Resource Institute (WRI) http://earthtrends.wri.org/ Columbia Consortium for Risk Management (CCRM) www.columbiariskmanagement.net

  7. The North and the South • Since 2000, developing nations that did not yet complete their industrialization are the engine of growth of the world economy – the South Developing nations are for the first time the largest growth sector in the world economy –largest emitters in the future? • Creation of G-20 in 2009: Advocating Sustainable Development

  8. GDP and Carbon Emissions Source:World Bank (2009) and UN Millennium Development Goals Database (2009) Columbia Consortium for Risk Management (CCRM) www.columbiariskmanagement.net

  9. GDP and Carbon Emissions Source:World Bank (2009) and UN Millennium Development Goals Database (2009) Columbia Consortium for Risk Management (CCRM) www.columbiariskmanagement.net

  10. Sustainable Economics 2009 The newly created G-20 requires change: a Sustainable World Economy How to do it

  11. Changes Articulated by the United Nations Kyoto Protocol

  12. The Kyoto Protocol Carbon MarketInternational Law since 2005 Compulsory Carbon Markets now exist in 4 continents: EU ETS, Japan, Australia& California USA

  13. December 2011:Kyoto Protocol extended 3 years in Durban COP 17 • Existing KP limits valid until 2015 • New global emission limits pledged for 2020

  14. The Carbon Market- by its author - • What is it? • What it is not

  15. Emission Limits are the basis of Carbon Market How does it Work

  16. The Missing Signal • If we destroy all trees & make toilet paper our economy improves – why? • Because Toilet Paper has Market Value & Trees do not. We lack Market Prices New Market prices = New Values New costs and New benefits The Carbon Market Provides the Missing Signal • 1997: KP Placed Limits on industrial emissions • 2005: KP Carbon Market International Law

  17. New Markets • SO2 market in CBOT – successful & 20 years old • New markets for water and for biodiversity • (Chichilnisky (1992, 1996, 2000, 2002, 2009, 2010, 2011)

  18. The Carbon Market • Trades $215 Bn/year EU ETS • Reduced 37% EU emissions • CDM transferred $50 Bn clean energy projects in poor nations • Changing US$55 Trillion energy infrastructure

  19. Carbon Market Links to Global Economy Everything is made with energy Economic growth = Energy Use Link to Energy Carbon Market provides Missing Signal New Market Prices = New Values

  20. FOCUS of Carbon Market • Capping Emissions • We can’t get there without emissions reductions Markets for trading a Global Public Good: Compensates bringing down Atmospheric CO2 Creating Equity and Efficiency Closing the Carbon Cycle

  21. Where are We? What comes Next?

  22. What to do? • Changing International Law • Changing Economics We may just have to do it • For the survival of our Species

  23. Change International LawBasic Needs • In 1974 this author created the Bariloche Model of the World Economy • Based on new concept of Basic Needs • Was the basis of Sustainable Development voted by 150 nations at the 1992 UN Earth Summit in Rio Brazil • Adopted by the G – 20 in 2009 Sustainable Development

  24. Change International LawThe Carbon Market • The Carbon Market - designed and written by the author into the UN Kyoto Protocol in 1997- international law since 2005 • Productive clean CDM transfers to developing nations $50 Bn since 2005 • EU ETS Trades $215 Bn/year, decreased 37% EU emissions since became law in 2005 • Makes profitable the use of clean energy for the production of all goods and services • Changes the energy foundation of the Global Economy • China ratified the Kyoto Protocol and since 2005 leads the World in Solar and Wind markets • US did not and we are left behind in clean technology

  25. Change International Law The Green Power Fund • Sustainable Development requires Carbon Negative Technology • $200Bn/year private public Fund could support this in the short and the long term – and change the global energy industry • Uses Kyoto Protocol and its Carbon Market to fund Carbon Negative Power Plants - in LA. Africa & 43 Small Island States • Created by the author in Copenhagen COP 15 Dec 2009 • Partly voted as $200 Bn/year Green Climate Fund in Durban COP17 December 2011

  26. New types of Markets = New GDP • Market economics can be made consistent with sustainable goals • But markets themselves must change • Individualistic markets must evolve into new types of markets that I postulated - markets for public goods – which incorporate connections between people and value Valuing the Global Commons • They are slowly emerging due to new scarcities: carbon market I created within the Kyoto Protocol, international law since 2005 trading $200Bn/year; SO2 markets in CBOT, new markets for water and for biodiversity (Chichilnisky (1992, 1996, 2000, 2002, 2009, 2010, 2011) Global markets that value privately produced public goods the Global Commons

  27. Green Capitalism in the 21st Century • The basis exists: international law and economics • Theoretically and in practice • New markets for the global commons, new growth theory, new cost benefit analysis and new GDP measures, new international law

  28. The Global Commons New Economics From maximizing profits to economic progress that ensures survival of our species

  29. Technology Urgently Needed • To Reduce Carbon from the Atmosphere • In a Profitable Way The Word needs Energy CLEAN ENERGY FOR DEVELOPING NATIONS

  30. Why a Carbon Negative Solution Carbon Neutral is not enough • Neutralizing emissions does not prevent further increases in atmospheric CO2 • Even the most aggressive efficiency improvements and renewables adoption are unlikely to keep CO2 concentration at the generally agreed 450ppm to avoid catastrophic climate risk Negative Carbon is the solution1 • Air capture enables direct and rapid reduction of CO2 concentration • GT allows for the capture of even more CO2 than we are loading into the atmosphere or that the earth’s systems can absorb – Negative Carbon GT’s technology directly reduces carbon concentration in the air, making carbon negativepossible 1United Nations Headquarters, New York, November 12, 2009. Presentation by G. Chichilniskyon"The Rising Tide at Copenhagen: A Win-Win Solution for Industrialized and Developing Nations" Company Confidential

  31. Closing the Carbon Cycle • GT Technology Captures Carbon from Air • Inexpensive: Uses Low Process Heat • Cogenerates Power Production with Carbon Capture • The More Power is Produced – the More Carbon is reduced • Makes Coal Plants Carbon Negative • Makes Solar Power Plants even more Carbon Negative

  32. Global Thermostat • GT creates Carbon Negative Power Plants™ • More Energy for Development • While Cleaning the Atmosphere • GT Transforms the worse emitters – the fossil power plants - into carbon sinks • GT technology makes solar plants more profitable and even faster carbon sinks

  33. Markets for Captured CO2 *EOR and Algae-based biofuels represent most significant opportunities for commercial applications of CO2 captured using GT’s technology Company Confidential

  34. Global Thermostat: Captures CO2 from Air Transforms CO2 from a Global Threat Into A Massive Profit Opportunity Benefits the Environment globalthermostat Company Confidential 2

  35. Global Thermostat: Transforms Energy and Fuel Markets Enables National Security & Economic Development Turns CO2 from a global liability and pollutant into a profit center and source of clean fuel Closing the Carbon CycleSM globalthermostat Company Confidential 3

  36. Leadership Team Key Advisors Ed Hotard Former COO, Praxair Eric (Ric) Redman President, Summit Power Ron Chance Emeritus Science Advisor, Exxon Rocco Fiato Accelergy, Exxon Richard Kauffman CEO, Energies Nicholas Eisenberger Pure Energy Partners Ben Bronfman Global Thermostat Chris Jones Georgia Tech Roger Cohen Ex-Exxon Michael Fleisher Bain, Gartner Eric Redman President, Summit Power Sasha Mackler Summit Power globalthermostat Company Confidential 11

  37. CO2 Management and Commercialization

  38. GT Pilot at SRI - October 1, 2010 globalthermostat Company Confidential 16

  39. November 2012 First Commercial Demonstration Plant at SRI Commenced March 2012 - TRL 9 expected Fall 2012 Uses heat from SRI Co-gen Power Plant GT Tandem + Carburetor lowest cost embodiment full integration Cost Breakthrough Powered by low-cost, process heat from SRI Co-gen Plant Eliminates transportation costs Modular Design 5,000-1,000,000 tons CO2/year Locates anywhere with 100 C heat source Flexible Integration Into Legacy or New Industrial Facilities Carbon Negative Solution Captures more CO2 from SRI fossil fuel Co-gen power plants than is emitted by plant Global Thermostat Company Confidential

  40. A Game Changing Company Transforms Energy and Fuel Markets Enables National Security & Economic Development Turns CO2 from a global liability and pollutant into a profit center & source of clean fuel Closing the Carbon CycleSM Global Thermostat Company Confidential Page 8

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