Elon Musk teased his hottest philanthropic endeavor on Thursday: a contest meant to really encourage far more-revolutionary carbon-seize systems.

“Am donating $100M towards a prize for finest carbon seize engineering,” Musk tweeted, incorporating that he would deliver “facts future 7 days.”


Musk, the CEO of Tesla and SpaceX who briefly handed Amazon CEO Jeff Bezos as the world’s richest particular person in advance of a slide in Tesla’s stock rate dropped him again a place, just lately questioned his Twitter followers for information on how to most effective give away his income.

“Significant feedback is often super appreciated, as perfectly as methods to donate income that genuinely make a distinction (way more durable than it appears to be),” Musk tweeted before this thirty day period.

In 2012, Musk signed the Offering Pledge, an initiative introduced by Invoice Gates and Warren Buffett that asks signatories to donate at minimum 50 % of their wealth within their life span. He has largely donated toward science and engineering education, renewable-electricity exploration, pediatric investigate, and investigation into human house exploration.

But an estimate by Forbes in September discovered that Musk had donated just $100 million — considerably less than 1% of his net really worth, which consists primarily of inventory in his companies.

Continue to, Musk’s proposed carbon-seize contest would go toward a lead to that is probably to enjoy a important purpose in fighting climate transform going forward, particularly below the Biden administration.

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A review printed in Scientific Experiences in November concluded that firms and governments urgently necessary to “start out producing the technologies for large-scale elimination of greenhouse gases from the ambiance,” a procedure acknowledged as carbon capture and storage.

Earth’s typical temperature is on keep track of to blow earlier concentrations that the Paris local weather settlement — which President Joe Biden rejoined Wednesday — established as aims for 2100.

But even if all greenhouse-fuel emissions stopped by then, according to the examine, at minimum 33 metric gigatons of carbon dioxide would have to have to be sucked out of the environment every single 12 months working with carbon capture — about the total quantity of carbon dioxide the world wide fossil-gas marketplace emitted in 2018 (36 metric gigatons).

The know-how is turning out to be extensively recognized as a safe type of geoengineering compared with other ways, and Biden voiced aid for it in his campaign platform, expressing his administration would take steps to “accelerate the growth and deployment of carbon-capture sequestration technological innovation.”

Specially, Biden wants to make carbon capture extra extensively offered, much less expensive, and scalable, and he strategies to increase federal investments and tax incentives for building the know-how.