There was a 44 % increase in the development of carbon capture facilities from 2021 to 2022, according to the Global CCS Institute. In its report ‘The Global Status of CCS 2022’, the Institute highlights that there were 30 CCS projects in operation, 11 under construction and 153 in development. However, as CEO Jarad Daniels points out, despite the investment in CCS,
“global efforts to reduce emissions … are still grossly inadequate. Private capital must be met with government policy to unlock the full potential of CCS and keep global warming below 1.5 degrees. Put simply, we must move from ambition to action.”
Read more: Importance of Carbon Capture and Storage (processsensing.com)