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Air Capture & Carbon Negative Technology ™ The Global Context. In the Short and the Long Run Graciela Chichilnisky -- www.chichilnisky.com Columbia University and Global Thermostat – www.globalthermostat.com Institute of Mechanical Engineering London 16 October 2012.

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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 and Global Thermostat – www.globalthermostat.com

Institute of Mechanical Engineering

London 16 October 2012

a human dominated world
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?

the anthropocene
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

global risks
Global Risks
  • Climate Change
  • Biodiversity Extinction
  • Clean Water scarcity
  • Life in the Seas going extinct

Avoiding Extinction

are humans next
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

the north and the south
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

sustainable economics
Sustainable Economics

2009 The newly created G-20 requires change: a Sustainable World Economy

How to do it

changes articulated by the
Changes Articulated by the

United Nations

Kyoto Protocol

the kyoto protocol carbon market international law since 2005
The Kyoto Protocol Carbon MarketInternational Law since 2005

Compulsory Carbon Markets now exist in 4 continents:

EU ETS, Japan, Australia& California USA

december 2011 kyoto protocol extended 3 years in durban cop 17
December 2011:Kyoto Protocol extended 3 years in Durban COP 17
  • Existing KP limits valid until 2015
  • New global emission limits pledged for 2020
the carbon market by its author
The Carbon Market- by its author -
  • What is it?
  • What it is not
the missing signal
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
new markets
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)
the carbon market
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
carbon market
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

focus of carbon market
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

where are we
Where are We?

What comes Next?

what to do
What to do?
  • Changing International Law
  • Changing Economics

We may just have to do it

  • For the survival of our Species
change international law basic needs
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

change international law the carbon market
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
change international law
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
new types of markets new gdp
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

green capitalism in the 21 st century
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
the global commons
The Global Commons

New Economics

From maximizing profits to

economic progress

that ensures survival of our species

technology urgently needed
Technology Urgently Needed
  • To Reduce Carbon from the Atmosphere
  • In a Profitable Way

The Word needs Energy

CLEAN ENERGY FOR DEVELOPING NATIONS

why a carbon negative solution
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

closing the carbon cycle
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
global thermostat
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
markets for captured co2
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

slide31

Global Thermostat:

Captures CO2 from Air

Transforms CO2 from a Global Threat

Into A Massive Profit Opportunity

Benefits the Environment

globalthermostat

Company Confidential

2

slide32

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

slide33

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

slide35

GT Pilot at SRI - October 1, 2010

globalthermostat

Company Confidential

16

slide36

September 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

slide37

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