Funding Research and Market Creation for Carbon Removal and Storage Technologies (CREST Act)
This Act authorizes funding for research and development of technologies designed to actively remove carbon dioxide from the atmosphere and oceans. It directs public investment toward combating climate change, stimulating innovation, and creating a market for carbon removal. A pilot program for purchasing removed carbon is established to accelerate commercialization and support local and regional economic development.
Key points
The US government will fund research into CO2 removal methods, including biomass, mineralization, ocean-based strategies, and Direct Air Capture (DAC) technology.
A pilot program is launched where the government will purchase removed carbon dioxide via reverse auctions to accelerate commercialization.
New requirements are set for long-term CO2 storage (tiers for 100-1,000 years and 1,000+ years) and for lifecycle assessment of environmental impacts.
Status:
Expired
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