CCUS uptake needs to grow 120 times by 2050 for countries to achieve their net-zero commitments, according to McKinsey Research.
It needs to reach at least 4.2 GT per annum (GTPA) of carbon dioxide (CO₂) captured, with some estimates ranging from 6-10 GTPA.
This could lead to CCUS decarbonising 45% of remaining emissions in the industry sector, although even in conservative scenarios, CCUS demand would reach approximately 2 GTPA by 2050 – a 60-fold increase over today’s pipeline of projects.
Based on the current CCUS project pipeline, approximately 110 MTPA of CO₂ are expected to be captured annually by 2030. To achieve the net-zero commitments pledged by 64 governments at COP26, approximately 715 MTPA are required by 2030 and 4,200 MTPA by 2050.
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