New study questions carbon capture projects’ ability to cut global CO2 emissions

Arina Fedorova
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SINGAPORE – A brand-new research brings into question the capacity of carbon capture jobs to reduce worldwide co2 (CARBON DIOXIDE) exhausts, and also presents suggestions for upcoming jobs if no different remedies to exhaust decrease can be located.

The record by the Institute for Power Business Economics and also Financial Evaluation launched last Thursday located that numerous carbon capture jobs either underperformed or fell short, and also examined whether the globe can rely upon such innovation to satisfy its target of net-zero exhausts.

The trouble is that much of the carbon dioxide recorded is being made use of to remove even more oil from oil areas, which adds to even more carbon dioxide exhausts, stated the research.

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It also found that CO2 that has been captured and stored may leak into the atmosphere. This means such storage facilities would require monitoring for centuries to ensure that trapped CO2 does not return to the atmosphere, said the study’s author, Mr Bruce Robertson.

Hence, the report called on developers to take responsibility for the leakage of CO2 from their projects, and stressed that CO2 captured should not be used in oil extraction.

Carbon capture projects must also not be used by governments as a climate solution to justify the use of any type of fossil fuel, said the report.

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Carbon capture and storage technology entails the capturing of CO2 and storing it underground. This prevents CO2 from accumulating in the atmosphere, where it traps heat and causes global warming.

The International Energy Agency said that annual carbon capture capacity needs to increase to 1.6 billion tonnes of CO2 by 2030 to meet the global target of net-zero emissions by 2050. This would help avert the catastrophic impact of climate change on countries and economies.

However, the new report said carbon capture projects in the natural gas, industrial and power sectors were not effective in meeting the goal.

The study looked at 13 flagship carbon capture and storage projects in these sectors, which accounted for around 55 per cent of the total current operational capacity worldwide.

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Mr Robertson, an energy finance analyst at the Institute for Energy Economics and Financial Analysis, said that seven of the 13 projects underperformed, two failed, and one was mothballed.

“Carbon capture and storage technology has been going for 50 years and many projects have failed and continued to fail, with only a handful working,” he added.

The reasons for underperformance are diverse, ranging from economic to engineering problems, said Mr Robertson.

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