They said yearly CO2 removal would need to double by 2030 for the world to reach net zero in 2050. Presented by SchneiderElec
But not all companies can reach net zero on their own. That's where carbon offsetting comes in. The practice allows firms to buy credits from less carbon-intensive companies and organizations to cancel out their own emissions, effectively bringing them closer to net zero. Offsetting methods include reforestation projects and renewable-energy sources like wind turbines and dams.
The bank's net-zero scenario would emerge in two stages. In the first phase of offsetting, through 2030, most carbon removal would derive from nature-based methods.suggests that nearly half of all offsetting in 2020 came from forestry and land-use practices, and about half of that came from efforts to stop deforestation.
As such, Morgan Stanley predicted that technology-based offsetting would outpace nature-based solutions after 2030. The team said offsets including renewable-energy sources, carbon capture, and direct air capture should be more efficient by then and lack the risks of methods that require large swaths of land. But such tech doesn't exist in scalable form, and more investment is needed before it can replace nature-based offsets.
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