BHP’s investment in Carbon Engineering aims to support the development of a ground-breaking technology that reduces carbon emissions.
The plan, which involves high-profile shareholders like Bill Gates, will accelerate the development of Direct Air Capture (DAC) that removes carbon dioxide from the atmosphere.
DAC captures carbon dioxide, which is then compressed and can be stored in suitable underground environments or used to create products, such as liquid fuels.
The technology is ready to be scaled up in selected commercial markets off its demonstration facility in British Columbia, Canada.
“We know that investing in emerging technologies to reduce emissions is just one part of addressing climate change,” BHP vice president for sustainability and climate change Fiona Wild said.
“At BHP, we also set greenhouse gas emissions reduction targets for our operations, we build the resilience of our operations and communities to the physical impacts of climate change and we work in partnership with our resource sector peers to improve sectoral performance. …
“[However], this investment is a good example of the role that the private sector can play in bringing such technologies to market.”
DAC captures carbon dioxide from atmospheric air and provides it in purified form used to create products, such as liquid fuels. This process takes place in a closed loop where the only major inputs are water and energy.
The output is a stream of pure, compressed carbon dioxide.
BHP also supports the United Nations’ (UN) Reducing Emissions from Deforestation and Forest Degradation (REDD+) program, where trees remove carbon dioxide out of the air in a similar manner to the DAC technology