An independent report, led by the University of Oxford&nbsp;released on Thursday estimates that over two billion tonnes of carbon dioxide are removed from the atmosphere annually, but despite increasing expenditures in new technology, this is mostly done by trees.

The report&nbsp;is the first to evaluate the amount of CO2 reduction the world has actually accomplished and the amount still needed.

To keep temperatures below two&nbsp;degrees Celsius above pre-industrial levels, as mandated by the Paris Agreement, it is estimated that by 2050, 1,300 times more carbon dioxide removal through new technologies—as well as twice as much from trees and soils—will be required.

"CO2 removal is rapidly moving up agendas," said report co-author Steve Smith, a climate scientist at the University of Oxford who spoke to Reuters.&nbsp;But he said that despite growing interest and investment, "there are major gaps in information."

Also read |&nbsp;<a href="https://www.wionews.com/technology/in-a-first-scientists-use-car-sized-laser-to-divert-lightning-strikes-553982">In a first, scientists use car-sized laser to divert lightning strikes</a>

Up until now, practically all efficient CO2 removal has been accomplished by actions like soil improvement and tree planting.

According to the report, from 2020 to 2022, the world invested about $200 million in new CO2 removal rate, and since 2010, the public has invested about $4 billion in research and development.

Although most nations do not currently plan to employ CO2 removal to achieve their 2030 short-term climate goals, many see it as an integral element of their 2050 net-zero approach.

(With inputs from agencies)

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An independent report, led by the University of Oxford released on Thursday estimates that over two billion tonnes of carbon dioxide are removed from the atmosphere annually, but despite increasing expenditures in new technology, this is mostly done by trees.

An independent report, led by the University of Oxford released on Thursday estimates that over two billion tonnes of carbon dioxide are removed from the atmosphere annually, but despite increasing expenditures in new technology, this is mostly done by trees. The report is the first to evaluate the amount of CO2 reduction the world has actually accomplished and the amount still needed. To keep temperatures below two degrees Celsius above pre-industrial levels, as mandated by the Paris Agreement, it is estimated that by 2050, 1,300 times more carbon dioxide removal through new technologies—as well as twice as much from trees and soils—will be required. "CO2 removal is rapidly moving up agendas," said report co-author Steve Smith, a climate scientist at the University of Oxford who spoke to Reuters. But he said that despite growing interest and investment, "there are major gaps in information." Also read | In a first, scientists use car-sized laser to divert lightning strikes Up until now, practically all efficient CO2 removal has been accomplished by actions like soil improvement and tree planting. According to the report, from 2020 to 2022, the world invested about $200 million in new CO2 removal rate, and since 2010, the public has invested about $4 billion in research and development. Although most nations do not currently plan to employ CO2 removal to achieve their 2030 short-term climate goals, many see it as an integral element of their 2050 net-zero approach. (With inputs from agencies) WATCH WION LIVE HERE:

Report: Two billion tonnes of global carbon dioxide removed annually

For days now, the European Union has been struggling to hammer out new climate change policies but the members have finally agreed on some targets. One of them is a ban on the sale of combustion engine vehicles from 2035. This will mean a hundred percent cut in CO2 emissions by new cars.

EU's news climate policies: Ban on cars with combustion engine by 2035

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Report: Two billion tonnes of global carbon dioxide removed annually

EU's news climate policies: Ban on cars with combustion engine by 2035