Three years ago, on this day, May 23rd,
“JPMorgan Chase and Climeworks landmark CDR agreement heralds new standard in voluntary carbon market for direct air capture”
The amount of carbon dioxide in the air was roughly 382ppm. As of 2026 it is 430ppm, but check here for daily measures.
The broader context was that with the failure to use existing technologies like nuclear and renewables to reduce carbon emissions, we are now in such deep shit that we’re having to invent, and take seriously, fantasy technologies like Direct Air Capture.
The specific context was that direct air capture has been having a “moment” for the last few years. Reality is setting in, but you get these hysterical announcements about market making and investment and you’re supposed to take it seriously. But what we learn is that carbon dioxide removals is the emperor’s new clothes. It’s a farce.
What I think we can learn from this. Any crap gets believed in, if it is convenient. Bearded sky gods, Direct Air Capture, you name it.
What happened next. I haven’t been able to find anything more recent than 2024. Maybe the money is still ‘there’. But, you know these agreements, they last for a couple of years, and then they get quietly dropped, and another agreement comes along.
What do you think? Does this pass the ‘so what?’ threshold? Have I got facts wrong? Interpretation wrong? Please do comment on this post, unless you are a denialist, obvs.
Also on this day:
May 23, 2000 – Deputy Prime Minister versus Greenhouse Trigger – All Our Yesterdays
May 23, 2006 – David Attenborough finally comes out on climate
May 23, 2012 – wicked problems and super-wicked problems all around…