"In a net zero world, you can only balance those residual emissions with carbon removal," Beuttler says. How does it work?At its only operational plant in Iceland, Climeworks extracts C02 from the air, pumps it into water, and stores it deep underground where it bonds with volcanic basalt rock, forming a solid carbon mineral. It is a process that occurs naturally through erosion, but usually over thousands of years. And there's plenty of room down there, says Buettler, not least because since the industrial revolution we've been extracting and burning huge quantities of carbon minerals. "All we're doing is putting part of that carbon back into the ground," he says. Carbon removal is what is referred to as a 'technofix', or, as Buettler describes it: "an air conditioning system for the planet." It is undoubtedly ambitious, but so was London's sewer system once upon a time. "People said it was crazy, that it was not possible – and yet it is," he says. There have been other crazy suggestions for dealing with climate change over the last few decades. Back in 1974 a Russian climate scientist, Mikhail Budyko, came up with a solution to global warming, a phenomenon he predicted could see a complete thaw of the Arctic Ocean within a century.Budyko's idea was the release of sulphate aerosols into the atmosphere in order to block enough sunlight to keep temperatures down should the burning of fossil fuels cause them to rise. It was an outlandish scheme then, and it remains so today, although it has its supporters, including those who do not want the world to reduce emissions, and who welcome a useful distraction.For some, carbon removal is a distraction too, in that it targets the last 10% of carbon that cannot be removed by cutting emissions rather the 90% that we need to cut before we're anywhere near net zero. Like geo-engineering, critics fear that by throwing their weight behind carbon extraction, governments and fossil fuel companies can claim to be taking the climate crisis seriously. Hedging our bets"This is not a silver bullet," Buettler says. "If we scale carbon removal can we go on with business as usual? Absolutely not. But if, in addition to mitigation, we start scaling this now, we can reach our climate targets. Without it, we can't. That is the situation." And why start preparing for the last 10% now? Well, because large-scale industrial projects take time – a lot of time. Climeworks currently has one operational plant in Iceland, Orca, which is capable of extracting and storing 4,000 tonnes of CO2 per year and is powered 100% by geothermal energy. Mammoth, its second in Iceland, will open in 2024 with a capacity of 36,000 tonnes. By 2027, the plan is for Climework's global DAC-S (direct capture and storage) capacity to be 400,000 tonnes and by 2050 it could be capable of handling a gigatonne – one billion tonnes. 

Can CO2 removal save us from global warming?

Welcome to the sixth issue of the Tech Wrap-Up Europe newsletter. Every fortnight, we'll be sharing interesting stories and expert insights from LinkedIn members.  In this issue, Sam Shead and Orlando Crowcroft look at carbon-sucking technologies, European tech hubs and AI's impact on recruitment.  By Orlando Crowcroft It sounds like something out of a sci-fi movie: huge machines, built in a land of fire and ice, powered by volcanoes, sucking the CO2 out of the air we breathe and burying it deep underground.  But it's real, says Christoph Beuttler, chief climate policy officer at Climeworks – and it might just save us all from global warming.  Or at least, it might help. Direct air capture and storage (DAC-S) is not a silver bullet, Beuttler admits. We need to stop polluting the Earth. We need to find alternative sources of energy. And when we've done all that, DAC-S might help to get us over the line.  "To limit global warming of 1.5 degrees, we need to get to zero emissions globally by the end of the decade. And that's impossible, because you always have residual, unavoidable emissions," he told LinkedIn News.  "Imagine reducing your personal carbon footprint: the first part, not flying, giving up meat, etc, that is easy, right? It is the last bit that becomes really tough."  Scientists predict that we can cut 90% of carbon emissions by rapid and direct cuts to polluting industries, but residual emissions – the final 10% – are more difficult. These include emissions from farming and logistics that, bar a complete shutdown, can not be avoided.

"We currently emit 40 billion tonnes of CO2 per year. Let's say we can reduce 90% of emissions, we would need to remove four billion tonnes per year via carbon removal" Buettler says. "It's a lot but we have the technology. We have the physical resources. It is just a matter of whether we will direct enough financial will – and the political will – in the timeframe needed."  Money may be where carbon dioxide removal falls down. It is by far the most expensive way of getting carbon out of the atmosphere. The International Energy Agency (IEA) estimates that direct air capture costs between $125 and $335 per tonne for a large-scale plant built today. At scale, this could be reduced to $100, with China and the Middle East the lowest-cost potential areas.  Climeworks has raised an impressive $810m, but global investment in direct air capture is still relatively low. Buettler says it would take $150bn to get the industry into the 100 megatonne removal range. He estimates that it currently stands at just $15bn, although other estimates have total global investment in the technology and research at under $5bn.  "Yes. It's super expensive, so we need to build more of it to get the price down," he says.  "We need to start throwing money at the problem as soon as possible."  By Sam Shead While Europe lacks a tech giant on the same scale as the trillion dollar businesses seen in the US, it is still home to several serious tech hubs, each with its own distinct flavour.  London, Paris, Berlin, Stockholm, Lisbon, and Dublin and many other cities are all home to fast-growing startups and huge tech companies that employ thousands of people. But competition is fierce, and cities on other continents are aiming to turbocharge their tech ecosystems in the coming years. The US government, for example, has committed to $500m towards turning cities in middle-America into thriving tech hubs.  So what can European cities do to ensure they stay relevant and in the mix? LinkedIn News asked experts in the tech sector to weigh in on the matter.  Courage Kimber, an independent consultant, thinks there are some key ways European cities can continue growing as epicentres of technological innovation.  Firstly, they need to attract and retain tech workers. This can be done, she says, by streamlining immigration processes and removing red tape for top talent. "The Digital Nomad visas in Portugal and Spain, and France’s entrepreneur visas are excellent initiatives, but EU bureaucracy can hinder the process and deter foreign workers," Kimber said.  Secondly, Kimber believes startup investment needs to be increased on the continent. "The time is now for European countries to bring in more funding from VCs and family offices abroad," she says, adding that policymakers should try and encourage the next Google, Apple, Amazon, Meta, or Microsoft to relocate to Europe. Volodomyr Semenyshyn, president of Ukrainian tech firm SoftServe, says it's important to acknowledge rival cities. "We have some serious competitors out there, from Silicon Valley to Shanghai, from Tel Aviv to Tokyo," he said. "And they're not slowing down anytime soon."  Semenyshyn thinks Europe should leverage the EU's Digital Innovation Hubs initiative, which aims to help companies across the economy make the most of digital opportunities by providing access to expertise, infrastructure, and funding. He adds that Europe should also invest in digital skills and education for tech professionals and the wider workforce. "This can help bridge the skills gap and prepare people for the digital transformation of various industries," he said.  Growth strategist Anna-Lisa Natchev says Europe needs to act decisively to remain attractive for international companies. "European cities and governments must choose: do they invest in competitiveness, strategic planning, and unwavering support for the industry?" she said. "With the right investments and commitments, Europe's tech hubs can continue to be irresistible destinations for leading tech companies, powering growth and innovation for years to come." You can see what other members are saying here.  By Sam Shead Artificial intelligence is redefining entire industries much quicker than many envisaged, and recruitment appears to be no exception.  Recruiters are using AI software to help them find the best candidates for the job, taking the onus off human recruiters in the process. They're using AI to analyse candidates’ facial expressions and their tone of voice during interviews. They're also using it to write job ads and review CVs and cover letters. "This streamlines the hiring, firing and promoting processes and helps quickly identify top candidates," says startup co-founder Mayya Geo.  But does AI always get it right? It's no secret that AI systems reflect human biases that are present in the datasets they learn from. "Recruitment AI tools help organisations filter a large pool of candidates efficiently, but they can be susceptible to perpetuating gender bias against women in the hiring process," said Dr Erin Chao Ling, a lecturer in AI and the Future of Work at the University of Surrey, in a statement shared with LinkedIn News Europe.  "Highly qualified female candidates may be disregarded if the rules and training data used by AI systems are inaccurate or incomplete, resulting in a significant loss of talent for organisations and posing a substantial threat to gender equality in the workplace," Ling added.  Asset manager Oluş Kayacan, CFA, CAIA argues that AI could in fact help companies to become more diverse.  "If used correctly, AI has the power to spot the 'right-minded and most competent person' for a specific position and inform HR or the hiring manager with accurate proof," he wrote. "The impact is significant: it spots our potential biases and allows us to have a win-win situation." [list=margin-top:1em;margin-right:0px;margin-bottom:0px;margin-left:1.5em;display:block;padding:0px][*]EU greenlights Microsoft's Activision deal. European Union regulators have approved Microsoft’s proposed $69bn (€63bn, £55bn) acquisition of gaming firm Activision Blizzard. The deal is subject to remedies offered by Microsoft. Check out Arjun Kharpal's take here.  [*]WhatsApp to hide 'special chats'. Meta has announced a new WhatsApp feature called "Chat Lock" that will enable users to hide their most intimate messages behind one more layer of security. Check out Enyo Sam's take here.  [*]Uber adds flight bookings to app. The ride-share giant is partnering with travel agency Hopper to offer national and international flights to all UK users in the next few weeks. Check out Kateva McDonald's take here.  [*]Google shows off foldable phone. Google launched its first foldable phone, the £1,749 Pixel Fold last week, making Apple the only major phone brand without a folding handset. Check out Ellie Burns's take here.  [*]Google powers up Search with generative AI. The tech stalwart said at its I/O conference that it is adding generative AI features that will give users more information and context during web searches. Check out Aleyda Solís's take here.  [/list] [size] Dr. Jacqui Taylor is one of the most influential women in UK tech, Jacqui regularly talks about sustainable business.  Carlos Gonzalez-Cadens is a partner at tech investment firm Index Ventures in London. He was formerly an executive at Skyscanner and GoCardless. Barry Scannell is a senior lawyer with a focus on artificial intelligence at Irish law firm WILLIAM FRY LLP. Efi Pylarinou is a seasoned Wall Street professional and ex-academic turned fintech thought leader. Get Hired UK – A fortnightly update dedicated to advice and insights on landing your next role and progressing in your career. Get Hired Europe – A newsletter focused on helping you land your next job. A bi-weekly digest of news, views and insights from the world of tech written by Orlando Crowcroft and Sam Shead. [/size]

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