The thought piece by Amara Ashfaq, Research Analyst at PTR highlights Carbon Capture Utilization and Storage (CCUS) technologies are gaining attraction globally as effective tools to reduce greenhouse gas (GHG) emissions and combat climate change. The CCUS process includes three main stages: capture, utilization, and storage, each contributing to mitigating the impact of industrial emissions on the environment. CCUS technologies present numerous benefits, serving as economical solutions for mitigating greenhouse gas emissions and addressing the challenges of global warming and also fostering the creation of new industries and job opportunities
The increasing proliferation of decarbonization targets for the global economy by 2050 is driving the expansion of CO2 capture applications. With over 30 countries involved, CCUS projects are expanding geographically, driven by global decarbonization targets by 2050. To further enhance their global adoption, leveraging Carbon Taxes and Emission Trading Systems (ETS) can serve as strategic tools to increase investments in CCUS and boost its widespread implementation. This symbiotic relationship between economic instruments and sustainable technology represents a promising approach to address climate change and promote a more environmentally conscious global economy.
Follow this link to learn more: Carbon Capture, Storage and Utilization: Transforming Emissions into Solutions
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