CREST Act of 2023 Carbon Removal and Emissions Storage Technologies Act of 2023
The CREST Act seeks to fundamentally alter how carbon dioxide is managed within various ecosystems, which could lead to significant changes in state and federal environmental policies. It emphasizes the creation of pilot programs to facilitate the purchase of CO2 from carbon removal facilities and to fund research initiatives aimed at reducing technical barriers and enhancing carbon capture technologies. By doing so, the bill aims to foster a more integrated approach toward achieving net-negative emissions, promoting sustainable practices across diverse sectors.
Senate Bill 1576, titled the Carbon Removal and Emissions Storage Technologies Act of 2023 (CREST Act), aims to enhance advancements in carbon removal research, quantification, and commercialization while utilizing natural processes. The act outlines several initiatives focused on the capture, measurement, reporting, and verification of carbon dioxide (CO2) removed from the atmosphere or upper hydrosphere. These initiatives will help establish a structured framework for carbon removal technologies by coordinating efforts between federal agencies, research institutions, and private entities.
While proponents argue that the bill's framework could stimulate economic growth through innovative carbon removal technologies, critics express concerns regarding the potential environmental impacts and feasibility of the proposed measures. Specific points of contention include the effectiveness of utilizing various carbon capture technologies (e.g., direct air capture and ocean-based storage), and whether the environmental benefits will outweigh any negative consequences from increased industrial activity associated with these practices. Close attention to research funding and pilot program outcomes will be necessary to assess the bill's viability.