Carbon capture and storage accelerates in response to growing climate ambition
WASHINGTON, 12 October 2021 / PRNewswire / – A new climate report released by the Global CCS Institute has highlighted the continued growth in carbon capture and storage (CCS) around the world. In 2021, the total capacity of the CSC project pipeline increased for the fourth consecutive year, by almost a third compared to the previous year. CCS is recognized by experts as an essential element in achieving global climate change goals.
CEO of the Global CCS Institute, Jarad Daniels, said the dramatic increase in development projects reinforces the essential role of CCS in achieving global climate goals in the short period of time required.
âCCS is absolutely essential to achieving net zero emissions and we expect the sector to continue to grow as climate ambition is increasingly linked to action,â Daniels said.
âWhile much more is needed, the commitment to climate action is growing steadily and we are seeing growing interest and support for CCS. As we accelerate towards net zero emissions by mid-century and set clearer interim targets, CCS will become an integral part of decarbonization. energy, industrial sectors such as cement, fertilizers and chemicals, and will open up new opportunities in areas such as the clean phase-out of hydrogen and carbon dioxide. “
The flagship report on the global state of CCS provides a comprehensive overview of the progress of CCS around the world. The 2021 report shows:
- Of the 135 commercial facilities of CSC in the project pipeline, 27 are fully operational, 4 are under construction and 102 are under development.
- 71 new CCS facilities were added to the project pipeline in 2021.
- In September, the CO2 capture capacity of all CCS facilities under development increased from 73 million tonnes per year (Mtpa) to 111 Mtpa, an increase of 48% compared to 2020.
- North America continues to be the global leader in CCS deployment, with more than 40 new CCS projects announced in 2021. This can be largely attributed to tax credits for CCS, stronger climate commitments – including state re-accession – United with the Paris Agreement – and the expected increase in demand for low-carbon energy products.
- CCS projects are increasingly diverse, with facilities developing across a wide range of sectors including power generation, liquefied natural gas (LNG), cement, steel, waste-to-energy , the direct capture and storage of air and the production of hydrogen.
- Several new countries now have commercial CCS facilities under development, including Belgium, Denmark, Hungary, Indonesia, Italy, Malaysia, and Sweden.
- CCS networks – in which multiple sources of emissions share transport and storage infrastructure – are increasingly becoming the dominant operating model, integrating ever-increasing volumes of CO2.
âThe momentum we have seen over the past year towards CCS is huge, but more is needed if we are to meet climate goals,â said Guloren Turan, Managing Director of Advocacy and Communications at Global CCS Institute.
âThe International Energy Agency’s sustainable development scenario predicts that 15% of emission reductions will come from CCS, which will require a one-hundred-fold increase in the capacity of operational facilities by 2050. Although the Accelerating CCS adoption is promising, the more urgent deployment of the technology is needed to meet the 2050 climate goals, âTuran added.
The publication of the report on the state of the world of CCS precedes COP26, where government leaders and observer organizations – including the Global CCS Institute – come together to assess progress on climate commitments and encourage greater ambition and action.
Published annually, the status report is published by the Global CCS Institute, an international think tank that works to accelerate the deployment of CCS, a technology vital to tackling climate change. The full 2021 report can be found here.
About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a technology vital to tackling climate change and ensuring energy security. For more information, visit www.globalccsinstitute.com.
Ruth gebremedhin (UK and European region): +44 7950 278 261 [emailÂ protected]
matt gloss (North America): +1 614 354 5587 [emailÂ protected]
Matt Steyn (Asia Pacific): +61 (0) 405 018 007 [emailÂ protected]
SOURCE CSC Global Institute