Carbon dioxide (CO2) capture capacity of all carbon capture and storage (CCS) facilities under development has grown from 73 million tonnes per annum (Mtpa) to 111 Mtpa in the last year, representing a 48% increase.
That’s according to a new report published today (12th Oct) by the Global CCS Institute, which highlights that in 2021, the total capacity of the CCS project pipeline increased for the fourth year in the row, by almost one third over the previous year.
North America continued to be the global front running in CCS deployment, with over 40 new CCS project announced in 2021. The report states this can largely be attributed to CCS tax credits, stronger climate commitments.
Outside of the US, in 2021, several new countries now have commercial CCS facilities under development, including Belgium, Denmark, Hungary, Indonesia, Italy, Malaysia, and Sweden.
Jarad Daniels, CEO of the Global CCS Institute said the dramatic increase in projects in development reinforces the critical role of CCS in reaching global climate goals within the short timeframe required.
“CCS is absolutely critical to achieving net zero emissions and we anticipate growth in the sector to continue as climate ambition is increasingly matched with action. Although much more is required, commitment to climate action is progressing steadily and we’re seeing growing interest and support for CCS,” Daniels said.
“As we accelerate toward net zero emissions by mid-century and establish clearer interim targets, CCS will be integral to the decarbonisation of energy, industrial sectors such as cement, fertilisers, and chemicals, and will open new opportunities in areas including clean hydrogen and carbon dioxide removal.
The release of the Global Status of CCS report comes ahead of COP 26, where government leaders and observer organisations gather to assess progress on climate commitments and encourage greater ambition and action.