Global carbon capture capacity expected to quadruple by 2030
"The trajectory of CCS deployment remains a long way off where it must be to deliver net zero by 2050."
Carbon capture and storage (CCS) capacity is expected to quadruple in the next five years, supporting a projected 40% drop in the technology’s average cost by 2050.
This is according to a new report by risk management firm DNV, which predicts that cumulative investments in CCS will reach around US$80 billion by the end of the decade despite recent political turmoil – such as the cancellation of US$3.7 billion of grants to carbon capture projects by the Trump administration.
