HomeCarbon NewsIs Carbon Capture Technology the Future?

Is Carbon Capture Technology the Future?

To defeat climate change, multiple avenues will be explored. One such solution to our global problem is the use of carbon capture technology, or CCUS for short. However, the topic of CCUS is hotly debated between companies and climate experts who believe it is not the way forward.

What is CCUS?

CCUS aims to fight climate change by capturing emissions from known polluting processes. Captured emissions are then stored and moved to be reused or stored in areas where they will not pollute the environment.

CCUS facilities have been used for decades now, much longer than carbon pricing methods. The first facility to trap and store carbon emissions was set up in 1972. There are currently 21 large-scale CCUS facilities in the world, with another 41 in developmental stages.

Why not use CCUS?

The major problem with CCUS lies with the reliance on fossil fuels to maintain the industry. To fight climate change, the amount of carbon emissions being released must be decreased. CCUS relies on carbon emissions being continually produced to trap and store it. Rather than encouraging alternative methods of fuel, CCUS maintains fossil fuels as a primary source of fuel.

The global capacity for CCUS is about 0.1% of annual carbon emissions. Climate experts believe this number is not high enough for CCUS to be a viable strategy to combat climate change. However, one method cannot fight climate change alone. Every strategy available is needed to achieve the goals of the Paris Agreements.

Most Popular
LATEST CARBON NEWS

Has the Energy Transition Failed and is it Over?

Many fail to realize this is not the first energy transition. Although the media have made it appear as if it’s the first energy transition,...

Global Consortium Backs Early Coal Retirement With Carbon Credits

The Coal to Clean Credit Initiative (CCCI), with help from The Rockefeller Foundation, teams up with ACEN Corporation to look into a pilot project...

Voluntary Carbon Credit Buyers Willing to Pay More For Quality

The recently released "State of the Voluntary Carbon Markets 2023" report by Ecosystem Marketplace (EM) reveals a significant trend shift within the VCM. It...

UAE’s $30B Climate Fund: A Boon or Concern for COP28 Dialogue?

The United Arab Emirates (UAE) is gearing up to launch a substantial climate-related investment fund, $30 billion, in collaboration with BlackRock, TPG, and Brookfield.  This...
CARBON INVESTOR EDUCATION

What Is COP28? Key Issues to Watch Out at 2023 Climate Summit

After a record-breaking year of devastating effects of climate change, from record wildfires in Greece and Canada to floods in Libya, the United Nations...

Climate Disclosure: New Corporate Standards for a Net Zero World

As part of the world’s continued efforts to combat climate change and transition towards net zero, one important piece of the puzzle is new...

Carbon Pricing: Understanding The Economics and Trends of Fighting Climate Change

As global temperatures continue to rise, the urgency surrounding climate policies has intensified, thrusting carbon pricing into the limelight of climate discussions. The race to...

The EU Corporate Sustainability Reporting Directive (CSRD): Key Things to Know

Companies operating in the European Union will have to deal with new non-financial and sustainability reporting requirements starting January 2024 with the EU's Corporate...