KEY POINTS
  • While trees and other plants can remove some carbon dioxide from the atmosphere, most climate change experts agree we can't plant enough, fast enough, to do the job alone.
  • Carbon capture technology has been around for decades, and is used to strip carbon out of factory emissions as well as remove carbon that's already in the air.
  • But it's expensive, and until the cost of releasing carbon into the air rises, there's little economic incentive to use it.
People tend to vegetables growing in a field as emission rises from cooling towers at a coal-fired power station in Tongling, Anhui province, China, on Wednesday, Jan. 16, 2019.

Elon Musk is going to pay $100 million towards a prize to come up with the best carbon capture technology. (Or so he tweets. Details are scarce so far.)

The maverick tech CEO's promise is not particularly notable for its generosity. With a net worth of over $200 billion, $100 million is 0.05% of Musk's wealth.