Denmark is making a historic new bet on carbon removal.

‍What’s happening:‍

• The government of Denmark has announced the largest subsidy ever for durable carbon dioxide removal
  

By the numbers:‍

• The new funding from the government of Denmark is worth approximately $166M USD
  
• Denmark will buy 1.1M tons of durable carbon removal from 3 different companies
  
• The carbon dioxide removal made possible by Denmark’s new funding is equivalent to the annual absorption of 16,000 hectares of forest
  

Why it matters:‍

• Denmark’s new funding commitment is the latest move from global governments to lower emissions amidst a push towards net zero, which has seen countries explore everything from electric vehicle battery manufacturing to new nuclear energy infrastructure
  

Going deeper:‍

• As part of the new funding project, all the carbon dioxide removed from the atmosphere is to be permanently locked away in storage sites located within Denmark
  

The intrigue:‍

• Denmark, Sweden, Norway, Belgium and the Netherlands recently signed an agreement for the transport and storage of carbon dioxide in the North Sea in an effort to accelerate permanent carbon storage within Europe

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