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Cost to Bury Carbon Near Tipping Point as Emissions Price Soars

  • Market for removing, storing carbon could be worth $2 trillion
  • U.K. wants to be a leader in industrial use of the technology
Views Of Drax Power Station
Photographer: Christopher Furlong/Getty Images Europe

Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried.

The market for these tools could reach $2 trillion if used to cut pollution from heavy industry, according to Credit Suisse Group AG. With carbon more than doubling in the past year and prices set to reach 100 euros ($118) as soon as the middle of this decade, capture technology finally is going mainstream as governments push to reach net zero.