Media Releases
IPCC Report Reaffirms Carbon Capture and Storage as a Critical Technology for Mitigating Climate Change
5th April 2022
The most recent report from the UN International Panel on Climate Change (IPCC) has reaffirmed the vital role of carbon capture and storage (CCS) technologies in achieving global climate goals. Global CCS Institute CEO, Jarad Daniels, said the report underscores the scale of action required and the necessity of CCS in limiting global warming.
“The IPCC has once again confirmed that CCS is key to reaching net-zero emissions by mid-century and mitigating climate change. The Institute welcomes that the report has highlighted the need for CCS across a range of sectors, including energy production, manufacturing and industry, and carbon dioxide removal (CDR),” Mr Daniels said.
The Working Group III report, compiled by a panel of leading climate experts, indicates that whilst progress has been made on reducing emissions in the past decade they remain at record highs. The authors warn that without greater policy ambition to halve emissions in the next decade warming would pass 1.5 degrees, signaling a failure to meet the goals of the Paris Agreement.
In reference to CCS the report notes that, although the technology suite is well understood, it faces several barriers and deployment lags behind rates in modelled pathways limiting warming to 1.5 or 2 degrees. It says enabling conditions such as policy instruments, greater public support and technological innovation could reduce these barriers.
“Although CCS has seen unprecedented global growth in recent years – with 29 commercial facilities in operation and over 100 projects now in various stages of development – much more is required,” said Mr Daniels.
“CCS is mature and deployment-ready. Governments have a key role to play in developing an enabling investment environment by setting clear CCS policy, ranging from support for geological storage assessments to creating financial incentives for the permanent storage of carbon dioxide.”
Amongst solutions including renewable energy, agricultural adaptation, and energy efficiency, the report highlighted an important role for CDR technologies including direct air capture and bioenergy with CCS in delivering net-zero and net-negative emissions beyond mid-century.
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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@globalccsinstitute.com
About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com