Tesla executive and billionaire Elon Musk shared recently on Twitter that he would give a $100 million prize to the development of the “best” carbon capture technology. Capturing emissions is a significant part of strategies to reduce emissions impact.

Source: Reuters/YouTube

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“Am donating $100M towards a prize for best carbon capture technology,” Musk wrote in a tweet on January 21, with a followup that read, “Details next week.” Carbon capture technologies as they exist now are quite limited.

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According to Reuters, The International Energy Agency said in 2020 that carbon capture was needed to help countries meet zero-emissions targets.

In 2012, Musk signed the Giving Pledge, promising to donate at least half of his wealth to charitable causes. Since then, he’s donated millions of dollars to scientific research and education. He also donated around $6 million to the environmental non-profit Sierra Club.

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Read more from another billionaire hoping to invest in climate solutions, Chamath Palihapitiya announced investment into climate change technologies.

Read more recent news on emissions and climate change, including the G20 report on energy use and Biden’s environmental plans.

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