One proposal I’ve heard about clearing out a lot of space junk is called “a big ball of goo”, in which a satellite is sent into orbit, then extends straight tubes many meters in several directions. The end of each tube holds a tent-like material, so when the arms are extended, the satellite looks like a large ball.
A gas is sprayed to fully “inflate” the ball, and then a high expansion polymer foam is sprayed to fill the ball. The end result is a giant ball of something like hard Styrofoam, designed for space junk to embed itself in the ball.
The ends of the tubes protrude out of the ball, and serve as thrusters to guide the ball in an irregular orbit, designed to intercept as much space junk as possible. At low, medium or high speed, any number of objects will then finally be carried back into the atmosphere to harmlessly burn up.
There will be big money in orbital clean up someday I am sure.