Most CCS projects sell captured CO₂ for EOR
CCS unfit for net zero – Ieefa
Track record for operating and failed CCS projects indicates perverse incentives to continue or increase emissions, according to Ieefa report
Carbon capture and storage (CCS) projects are unlikely to deliver on promises of significant emissions reductions, warns thinktank the Institute for Energy Economics and Financial Analysis (Ieefa) in a report. Recent analyses by the IEA and thinktank the Energy Transitions Commission both estimate that at least 7gt/yr of CO₂ must be captured by 2050 to reach net zero, with calls to vastly increase capacity over the next decade. But Ieefa is critical of the role of CCS in meeting net zero, based on past projects’ actual capture and storage rates, the use of CCS in enhanced oil recovery (EOR) and perverse incentives to increase operational emissions to claim additional carbon credits. “M
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
