This is why you should contribute towards unforeseen future

  • Cost-effective: CCUS is one of the most cost-effective solutions available for reducing emissions from industrial and fuel transformation processes (to produce a relatively pure stream of CO2, such as natural gas and hydrogen produced from fossil fuels). CCUS technology can be applied to these facilities at as low as USD15–25 per tonne of CO2.
  • Reduces emissions: CCUS technology accounts for almost one-fifth of the emission reduction needed in the industrial sector, according to the International Energy Agency (IEA). It is estimated that 28 giga tonnes of CO2 (GTCO2), 31GTCO2 and 56GTCO2 will be captured through CCUS technology from the iron and steel, fuel transformation and power sectors, respectively, by 2060.
  • Decarbonises: Using CCUS technology is especially important to decarbonise (remove carbon compounds released by) industrial processes
  • 90 large-scale CCUS facilities would need to come online each year from 2020 to 2050 to reach the 2,732 CCUS facilities needed by 2050
  • National governments could award grants through competitive procurement to encourage pre-competitive storage appraisal activity
  • Mobilise finance to boost CCUS opportunities. CCUS technology is currently eligible for funding through the Green Climate Fund (which supports the efforts of developing countries in dealing with climate change) and the Global Environment Facility (which tackles our planet’s most pressing environmental problems)
  • The WCA will undertake research and development activity to advance the technology to make the CCUS process more efficient

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Acuity Knowledge Partners

Acuity Knowledge Partners

We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/