Categories: Market Overview

Carbon capture is expected to play a pivotal role in the race to net zero emissions. But not everyone agrees

Carbon capture technology is often held up as a source of hope in reducing global greenhouse gas emissions, featuring prominently in countries’ climate plans as well as the net-zero strategies of some of the world’s largest oil and gas companies. The topic is divisive, however, with climate researchers, campaigners and environmental advocacy groups arguing that carbon capture technology is not a solution. Carbon capture, utilization and storage — often shortened to carbon capture technology or CCUS — refers to a suite of technologies designed to capture carbon dioxide from high-emitting activities such as power generation or industrial facilities, that use either fossil fuels or biomass for fuel.

The captured carbon dioxide, which can also be captured directly from the atmosphere, is then compressed and transported via pipeline, ship, rail or truck to be used in a range of applications or permanently stored underground.

Proponents of these technologies believe they can play an important and diverse role in meeting global energy and climate goals. It wasn’t until several years later that carbon capture technology would be studied for climate mitigation purposes. Now, there are 21 large-scale CCUS commercial projects in operation worldwide and plans for at least 40 new commercial facilities have been announced in recent years. A report published by CIEL earlier this month concluded that these technologies are not only “ineffective, uneconomic and unsafe,” but they also prolong reliance on the fossil fuel industry and distract from a much-needed pivot to renewable alternatives.

Carbon capture is expected to play a pivotal role in the race to net zero emissions. But not everyone agrees, CNBC, Jul 21

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

2 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies