Power plants and industrial facilities accounts for more than 60% of global CO2 emissions.
(Our World In Data, 2020)
CCUS (Carbon Capture, Utilisation and Storage) is the process of capturing CO2 from power plants, industrial facilities, and large scale emitters, for Use or Storage, thus preventing the captured carbon dioxide from being released into the atmosphere.
BECCS (Bioenergy with Carbon Capture and Storage) or bio-CCS is the process of capturing and storing CO2 from facilities using bioenergy as fuel, hence creating negative emissions by removing carbon dioxide from the atmosphere.
Investment in CCS is crucial to reduce the amount of CO2 being emitted to the atmosphere, and hence mitigate the associated environmental and economic impact of climate change.
The captured CO2 can be utilised as a component in other industrial processes or for enhanced oil recovery, or it can be transported and safely stored in geological reservoirs.
According to the International Energy Agency (IEA) more than 2,000 CCUS facilities will be needed by 2050, creating millions of new jobs during the construction and operation phase.
Universally agreed that CCUS is a critical part of delivering net zero
Strong support by governments around the world to catalyse CCUS technologies and infrastructure through grants, subsidies, tax breaks.
Emitters actively seeking carbon capture solutions driven not only by ESG pressures but increasingly by commercial necessity.