A major report launched by think tank the Global CCS Institute at the UN climate change conference COP25 finds that deployment of CCS has continued to gather pace, with the pipeline of CCS projects continuing to grow for the second year in a row, up 37% since 2017.
The Global Status of CCS 2019 Report: Targeting Climate Change shines a light on the next wave of CCS projects globally, while also highlighting the flexibility, applicability and increasingly positive economics of applying CCS to a range of emission sources.
The next wave of CCS projects is expected to focus on large-scale abatement, through development of hubs and clusters.
These capture CO2 from multiple industrial installations and use shared infrastructure for the subsequent CO2 transportation and storage to drive down costs.
Speaking at the launch of the report, Global CCS Institute CEO Brad Page emphasized, “This has been one of the worst years on record for climate. The clock is ticking, the world must act.”
“Global emissions continue to rise, and climate impacts are expected to increase and have very dangerous implications.”
“Bold climate action is needed to keep global warming to 1.5°C. CCS needs to be part of the climate solutions toolbox to tackle this challenge head on.”
There are now 51 large-scale CCS facilities in operation or under development globally in a variety of industries and sectors.
These include 19 facilities in operation, four under construction and 28 in various stages of development.
Of all the facilities in operation, 17 are in the industrial sector and two are power projects.
The US is currently leading the way in CCS development and deployment with 24 large-scale facilities, followed by 12 facilities both in Europe and the Asia Pacific region and three in the Middle East.
“Despite this increased momentum and progress in CCS deployment, the number of facilities needs to increase 100-fold by 2040, and scaling efforts are just not happening fast enough,” warned Page.
“Now is the time to rally for greater policy support and for capital to be allocated to build on the positive CCS progress of the past two years.”
At the same time, hydrogen is also receiving policy attention not seen for decades around the globe. CCS, as a means to produce clean hydrogen on a large-scale, has gained momentum as part of this renewed interest in hydrogen as a clean energy vector of the future.
The report features commentary and contributions from a wide range of leaders and influencers who draw on their expertise from across climate change, energy, academia, polar exploration, finance and CCS in voicing their support for the technology.