New US Group Champions Carbon Negative Economy

A new organization known as the National Panel for a Carbon Negative Economy has convened for the first time and agreed on initial steps to promote the growth of negative emissions. The 33-member panel is led by Iowa State University and includes other universities, federal agencies, private companies, and NGOs. Its purpose is to elaborate the conceptual framework for a carbon negative economy and help popularize the idea in wider society. In one version of the carbon negative economy sketched out by the Panel, second-generation biofuels and algae would be used to capture atmospheric carbon, then converted to biocrude for use in transportation, chemicals, and power generation. The biocrude production process also creates biochar, which sequesters carbon and enhances agricultural productivity. The project has secured $500,000 in funding over the next three years.