PARIS: Humanity's failure to draw down planet-heating carbon dioxide emissions - 41 billion tonnes in 2022 - has thrust once-marginal options for capping or reducing carbon dioxide in the atmosphere to centre stage in climate policy and investment. Carbon capture and storage (CCS) and direct air captu
PARIS: Humanity's failure to draw down planet-heating carbon dioxide emissions - 41 billion tonnes in 2022 - has thrust once-marginal options for capping or reducing carbon dioxide in the atmosphere to centre stage in climate policy and investment.
The concentration of carbon dioxide in ambient air is only 420 parts per million , so corralling carbon dioxide using DAC is far more energy intensive. Rather, oil and gas companies inject carbon dioxide into oil fields to extract more crude more quickly. But the looming climate crisis and government subsidies have revived interest in CCS for the power sector and beyond.
"It's a huge challenge but it's not unprecedented," University of Wisconsin-Madison professor Gregory Nemet told AFP, citing other technologies, including solar panels, that have scaled up dramatically in a matter of decades. In the United States, the Inflation Reduction Act earmarks billions of dollars in tax credits for CCS.Canada's 2022 budget also extends an investment tax credit that cuts the cost of CCS projects in half.
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