The Carbontech Challenge
With the earth warming every year and extreme weather events becoming more frequent, the time for strong climate action is now. CCUS will play a critical role in achieving the net-zero future, enabling industrial decarbonization, and removing CO2 from the atmosphere and oceans. According to the International Energy Agency (IEA), the CCUS sector needs to grow approximately 200 times from the 2022 level by 2050, more than the weight of all petroleum produced today, according to McKinsey, a ‘monumental endeavor’.
Despite the technology’s promise, CCUS deployment has been too slow. Net-zero success requires more commercial carbontech solutions deployed quicker across a range of industrial sectors and applications.