In the short-term, emitting and then removing carbon from the atmosphere creates greater uncertainty and risk than simply avoiding its release in the first place.
Financing carbon avoidance today is crucial in the transition phase to net zero emissions because simply put, they stop more emissions from entering the atmosphere.
They also serve climate justice and protect our existing carbon sinks such as forests and with them, biodiversity.
In the coming decades, carbon removals will grow in importance as we get closer to both public and private net zero targets. Once we reach net zero, all new residual emissions must be neutralised with carbon removals.
Companies can start to invest in carbon removal technologies so they can be scaled in the future. However, this must not delay or impact urgent efforts to decarbonise and prevent emissions from being released in the first place.