If the world is to meet the Paris Agreement and all energy-related sustainable development goals, roughly 2,000 carbon capture and storage (CCS) facilities need to be operating by 2040, delivering 7% of cumulative emissions reductions.
That’s according to the International Energy Agency (IEA) who puts the price of a scenario without CCS at more than double the cost.
The CCS process involves three major steps: capturing CO2 at the source, compressing it for transportation and then injecting it deep into a rock formation at a carefully selected and safe site, where it is permanently stored.
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