Most CCS projects sell captured CO₂ for EOR
CCS unfit for net zero – Ieefa
Track record for operating and failed CCS projects indicates perverse incentives to continue or increase emissions, according to Ieefa report
Carbon capture and storage (CCS) projects are unlikely to deliver on promises of significant emissions reductions, warns thinktank the Institute for Energy Economics and Financial Analysis (Ieefa) in a report. Recent analyses by the IEA and thinktank the Energy Transitions Commission both estimate that at least 7gt/yr of CO₂ must be captured by 2050 to reach net zero, with calls to vastly increase capacity over the next decade. But Ieefa is critical of the role of CCS in meeting net zero, based on past projects’ actual capture and storage rates, the use of CCS in enhanced oil recovery (EOR) and perverse incentives to increase operational emissions to claim additional carbon credits. “M
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