According to Gilvary, the energy transition will require carbon capture and storage “as a bedrock” to reach the world’s climate goals. “It is impossible for industry or for the planet to get [to net zero by 2050] without carbon capture. Growing appetite for CCSEurope is increasingly looking to carbon capture and storage technologies as a way to achieve net zero emissions by 2050. Carbon capture projects are also likely to see more support under the European Commission’s upcoming Net-Zero Industry Act, due on 14 March. According to Gilvary, the 16 European projects, currently at various stages of development, only make up around a fifth of what is needed.

Source: Forbes March 10, 2023 00:10 UTC