This includes an October 2021 announcement by Air Products that it would build the world’s largest CCUS-equipped hydrogen production facility in Louisiana, capturing and storing more than 5 MtCO 2 per year.įinally, the investment environment for CCUS has substantially improved as a result of new policy incentives. Second, the growing interest in producing low-carbon hydrogen has resulted in almost 50 facilities under development to capture CO 2 from hydrogen-related processes. Companies such as Microsoft, United Airlines and others are investing in direct air capture technologies to meet their corporate climate targets. For example, Copenhagen is aiming to be the world’s first carbon-neutral city, and plans to equip its major waste facility with CCUS – removing up to 500 000 tonnes of CO 2 a year. First, a growing recognition that CCUS is necessary to meet national, regional and even corporate net zero goals. This boost in CCUS project activity is underpinned by three key developments. 2021 has generated unprecedented momentum behind carbon capture, utilisation and storage With its track record, why should we expect that CCUS’s current momentum will translate to real progress? While CCUS certainly still faces challenges, the combination of strengthened climate goals, an improved investment environment and new business models have set the stage for greater success in coming years. This needs to increase to 1.6 billion tonnes (GtCO 2) in 2030 to align with a pathway to net zero by 2050. On average, capture capacity of less than 3 million tonnes of CO 2 (MtCO 2) has been added worldwide each year since 2010, with annual capture capacity now reaching over 40 MtCO 2. The past decade saw high-profile project cancellations and government funding programmes that failed to deliver.
Yet, previous hopes that CCUS was about to fulfil its potential have petered out. CCUS also provides a key option to address emissions from existing energy assets, to support a cost-competitive scaling up of low-carbon hydrogen production, and to remove carbon from the atmosphere.
The IEA has consistently highlighted the important role of CCUS in achieving net zero emissions, given that without CCUS we would have limited or no solutions for tackling emissions from heavy industry sectors, including cement. So far in 2021, more than 100 new CCUS facilities have been announced and the global project pipeline for CO 2 capture capacity is on track to quadruple. This year has seen unprecedented advances for carbon capture, utilisation and storage (CCUS) technologies – and there are encouraging signs that this time the momentum will deliver tangible results that can help tackle global emissions.
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