Tesla CEO Musk puts $100 million jolt into quest for carbon removal By Reuters – Investing.com

  • Date: 23-Apr-2021
  • Source: Investing.com
  • Sector:Economy
  • Country:Gulf
  • Who else needs to know?

Tesla CEO Musk puts $100 million jolt into quest for carbon removal By Reuters – Investing.com

© Reuters. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard at the E3 gaming convention in Los Angeles

By Hyunjoo Jin and Nichola Groom (Reuters) -Billionaire entrepreneur Elon Musk on Thursday offered inventors $100 million in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean. "Right now we've only got one planet, said Musk, CEO of electric carmaker Tesla (NASDAQ:) Inc. "Even a 0.1% chance of disaster -- why run that risk? That's crazy!" In January, Musk announced his intention to offer $100 million in prizes and set out the contest rules on Thursday, Earth Day. What organizers called the "largest incentive prize in history" will last for four years through Earth Day, 2025. "I don't think we are currently doomed," Musk said. "If we keep going, complacent, there is some risk of non linear climate change." Carbon capture and storage has drawn growing interest as a warming climate has melted glaciers, intensified tropical storms and resulted in "sunny day flooding" of more and more coastal areas. While countries are working to reduce emissions, scientists say carbon removal technology will