CO2 storage tanks in China
The CCS revival – part one: Global growth
The technology is gaining traction as tax credits and rising carbon prices improve the economics of deployment in energy-intensive industries
The global carbon capture and storage (CCS) industry has long been in the doldrums, but government and corporate targets on reaching net zero have helped to drive a surge in new projects in recent months. “To reach international climate targets, we cannot continue at the pace of deployment that we have seen in the past,” Guloren Turan, general manager of advocacy and communications at thinktank the Global CCS Institute (GCI), tells Transition Economist. “The IEA has said that rapid acceleration of CCS deployment is essential to achieve net zero by mid-century, and that is going to require significant investment from both the public and the private sector.” Part one of this three-part seri
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