Media Releases
The Global CCS Institute Welcomes Call from the White House to Accelerate Carbon Management
22nd April 2023
Location(s): Washington DC
The Global CCS Institute welcomes President Biden’s call for accelerating carbon capture, utilization, storage, and removals (CCUS and CDR) at the Major Economies Forum (MEF); in addition to decarbonizing energy, ending deforestation and tackling non-CO2 pollutants.
“The Carbon Management Challenge announced by the White House will be a major catalyst in accelerating the deployment of carbon capture technology globally” says Jarad Daniels, CEO of the Global CCS Institute. He observes “Only a few days ago, the G7 energy and climate minsters’ communique demonstrated a united front in commitment towards carbon management and climate change mitigation, in scaling up this critical technology to gigatonne scale. Now, with the call to catalyse global climate action at the MEF, we are at a pivotal point to accelerate the deployment of all the necessary solutions to keep 1.5°C limit on warming within reach.”
The International Energy Agency (IEA) estimates that roughly 1.2 gigatonnes of CCUS and CDR will be needed by 2030 to limit warming to 1.5°C. According to the Institute’s CO2RE database, currently there are 37 commercial facilities in operation with a capacity to capture and store 50 million tonnes of CO2 per annum (mtpa). In addition, there are over 200 facilities in various stages of development, bringing the total capacity of the project pipeline close to 300 mtpa. This means that the current pipeline of projects would need to grow by 4x by 2030 to put us on the right trajectory for net-zero emissions by mid-century.
Mr. Daniels says: “Carbon management will continue to play multiple, unique roles in decarbonising the global economy, both in reducing and removing emissions. We anticipate even more strategic partnerships and public-private collaboration driving its deployment and stand ready to support governments and businesses in accelerating the scale-up of this critical climate technology.”
Read the full announcement from the White House here:
- FACT SHEET: President Biden to Catalyze Global Climate Action through the Major Economies Forum on Energy and Climate (April 20, 2023)
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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 deliver climate neutrality. For more information, visit www.globalccsinstitute.com
Media Contact: Jess Oglesby (Washington D.C.) jessica.oglesby@globalcssinstitute.com