CCUS can reduce emissions from large stationary sources, essentially power stations and large industrial plants, in a variety of ways, as well as generate negative emissions, by combining it with bioenergy (BECCS) or through direct air capture (DAC). The International Energy Agency (IEA) Energy Technology Perspectives 2020 report highlights the central role that CCUS must play as one of four key pillars of global energy transitions alongside renewables-based electrification, bioenergy and hydrogen (IEA, 2020a). The sooner net zero emissions are achieved, the greater the chances of meeting the most ambitious climate goals. Net zero requires that any CO 2 released into the atmosphere from human activity be balanced by an equivalent amount being removed, either through nature-based solutions (including afforestation, reforestation and other changes in land use) or technological solutions that permanently store CO 2 captured (directly or indirectly) from the atmosphere. The Paris Agreement also seeks to achieve a “balance between anthropogenic emissions by sources and removals by sinks” in the second half of this century: in practice, this translates to net zero emissions. The coming decade will be critical to scaling up investment in developing and deploying CCUS and realising its significant potential to contribute to the achievement of net-zero emissions.Ī radical transformation of the way we produce and consume energy will be needed to bring about a rapid reduction in emissions of greenhouse gases (GHGs) consistent with the Paris Agreement goal of “holding the increase in the global average temperature to well below 2☌ above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5☌ above pre-industrial levels”. Yet there are clear signs that CCUS may be gaining traction in spite of the economic uncertainty created by the Covid-19 crisis, with more projects coming online, more plans to build new ones and increased policy ambition and action. This slow progress is a major concern in view of the urgent need to reduce emissions across all regions and sectors in order to reach global net-zero emissions as quickly as possible. The story of CCUS has largely been one of unmet expectations: its potential to mitigate climate change has been recognised for decades, but deployment has been slow and so has had only a limited impact on global CO 2 emissions. A decade of experience in developing projects and the recent uptick in activity means that there are a number of “shovel-ready” projects with potential to double CCUS deployment by 2025. But CCUS is in a stronger position to contribute to economic recoveries than after the global financial crisis. The Covid-19 crisis represents both a threat and an opportunity for CCUS: the economic downturn will almost certainly impact investment plans and lower oil prices are undermining the attractiveness of using CO 2 for enhanced oil recovery.CCUS can remove CO2 from the atmosphere by combining it with bioenergy or direct air capture to balance emissions that are unavoidable or technically difficult to abate.CCUS is an enabler of least-cost low-carbon hydrogen production.CCUS can tackle emissions in sectors where other technology options are limited, such as in the production of cement, iron and steel or chemicals, and to produce synthetic fuels for long-distance transport (notably aviation).CCUS can be retrofitted to existing power and industrial plants, which could otherwise still emit 8 billion tonnes (Gt) of carbon dioxide (CO2) in 2050.CCUS technologies offer significant strategic value in the transition to net-zero:.Projects at advanced stages of planning represent a total estimated investment of more than USD 27 billion, almost double the investment in projects commissioned since 2010. Plans for more than 30 new integrated CCUS facilities have been announced since 2017, mostly in the United States and Europe, although projects are also planned in Australia, China, Korea, the Middle East and New Zealand.
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