Daily News on Net Zero, DeCarbonisation, Carbon Neutrality, Sustainability, Climate Change, ESG
  • Home
  • News
    • Sustainability
    • Featured
    • Carbon Offset
    • Net zero
    • Knowledge
    • Climate Change
    • Off Grid Solar
    • RoofTop & Distributed Solar
    • Technical
    • Manufacturing
    • Utility Scale RE
  • World
    • USA
    • UK
    • India
    • Europe
      • France
      • Germany
      • Austria
      • Denmark
      • Finland
      • Italy
      • Netherlands
      • Spain
      • Switzerland
    • Middle East
      • Saudi Arabia
      • UAE
      • Qatar
      • Bahrain
      • Oman
    • Asia Pacific
      • China
      • Hong Kong
      • Australia
      • Indonesia
      • Japan
      • Malaysia
      • New Zealand
      • Singapore
      • South Korea
    • North America
      • Canada
      • Mexico
    • South America
      • Brazil
      • Chile
    • Africa
      • South Africa
      • Egypt
      • Kenya
      • Mali
      • Morocco
      • Nigeria
      • Uganda
  • Industries
    • Air Travel
    • Automobile
    • Banking
    • Cement
    • Energy
    • FMCG
    • Healthcare
    • Hospitality
    • IT & Computers
    • Shipping
    • Pharmaceuticals
    • Real Estate
    • Steel
  • More
    • Carbon Capture & Storage
    • Carbon Footprint
    • Carbon Tax
    • New Launches
    • Interviews
    • Job Opportunities
    • Policy & Regulations
    • Quarter Results
    • Research Reports
    • Tender
    • Web Stories
  • Climate Change
    Climate ChangeShow More
    Why Oil Stocks Aren’t That Hot
    Anand Gupta By Anand Gupta
    Countries draw battle lines for talks on new climate finance goal
    Anand Gupta By Anand Gupta
    Achieving MENA Climate Change Goals While Navigating Cashflow Challenges
    Anand Gupta By Anand Gupta
    TIME TO NAME THE SILENT KILLER: HEATWAVES
    Anand Gupta By Anand Gupta
    UNEA-6: multilateral actions to tackle climate change, biodiversity loss and pollution
    Anand Gupta By Anand Gupta
  • Sustainability
    SustainabilityShow More
    The Importance Of Sustainability In Manufacturing
    Anand Gupta By Anand Gupta
    Sustainability Partnerships: What They Are, Why They Matter And How They Work
    Anand Gupta By Anand Gupta
    The Best And The Rest: The Sorry State Of Sustainability Today
    Anand Gupta By Anand Gupta
    It’s Time for Sustainability to Become a Core Part of MBA Programs
    Anand Gupta By Anand Gupta
    Eight ways the sustainable economy is (still) taking over
    Anand Gupta By Anand Gupta
  • Business & Finance
    Business & FinanceShow More
    Himachal CM seeks collaboration with UK on green hydrogen, e-vehicles
    Anand Gupta By Anand Gupta
    IndiGrid’s portfolio grows to 1.1 GWp with new 300 MW solar acquisition
    Anand Gupta By Anand Gupta
    EverEnviro, Thermax Bioenergy sign MoU with Danish firm to boost India’s CBG production
    Anand Gupta By Anand Gupta
    Sajjan Jindal’s JSW Steel sounds out banks for $750 million loan
    Anand Gupta By Anand Gupta
    President accords sanction to Rs 20,773 cr RE Transmission System Project in Ladakh
    Anand Gupta By Anand Gupta
  • Carbon Offset
    Carbon OffsetShow More
    Revealed: How Industry Lobbying is Reducing Nature to a Monopoly Board
    Anand Gupta By Anand Gupta
    OFFSETS PROMISE TO CUT CARBON FOOTPRINTS BUT CRITICS RAISE QUESTIONS
    Anand Gupta By Anand Gupta
    Carbon offsets bring new investment to Appalachia’s coal fields, but most Appalachians aren’t benefiting
    Anand Gupta By Anand Gupta
    Can clean cookstoves ride out the carbon markets storm
    Anand Gupta By Anand Gupta
    Carbon removal sector buoyed by strong growth in corporate demand
    Anand Gupta By Anand Gupta
  • Featured
    FeaturedShow More
    India will take up carbon tax issue ‘very strongly’ with the EU, says Piyush Goyal
    Anand Gupta By Anand Gupta
    Unpacking The Truth Behind Climate Change Predictions And Carbon Taxes
    Anand Gupta By Anand Gupta
    Ways for India to deal with EU carbon tax
    Anand Gupta By Anand Gupta
    Taking Carbon Tax Off Home Heating Drops Saskatchewan Inflation to Under Two Per Cent
    Anand Gupta By Anand Gupta
    Warming up to climate change: How does climate change impact extreme weather events?
    Anand Gupta By Anand Gupta
  • Net zero
    Net zeroShow More
    India’s net-zero target: Here’s what the govt needs to prioritise
    Anand Gupta By Anand Gupta
    Do Record Temperatures Mean Our Climate Goals And Net Zero Are Dead?
    Anand Gupta By Anand Gupta
    The dark cloud over Indonesia’s pledge to achieve net-zero emissions by 2060
    Anand Gupta By Anand Gupta
    Net-Zero Is Pulling the Plug on America’s Electrical ‘Life Support System,’ New Documentary Says
    Anand Gupta By Anand Gupta
    SAP’s Journey to Net Zero 2030
    Anand Gupta By Anand Gupta
  • Renewable Energy
    Renewable EnergyShow More
    Is Renewable Energy Actually Making Us Rely More on Fossil Fuels?
    Anand Gupta By Anand Gupta
    Countries to promise clean energy boost at COP28 to push out fossil fuels
    Anand Gupta By Anand Gupta
    The UAE has committed to assisting Malaysia in establishing a 10 GW renewable energy capacity, valued at $8 billion, by 2025
    Anand Gupta By Anand Gupta
    Renewable energy sources and energy waste reduction accounted for 25% of the state’s electricity needs last year, showcasing a substantial shift towards sustainable energy practices and environmental responsibility
    Anand Gupta By Anand Gupta
    The Ascendance of Renewable Energy: Exploring the Role of Electrification in Driving Sustainable Solutions
    Anand Gupta By Anand Gupta
Daily News on Net Zero, DeCarbonisation, Carbon Neutrality, Sustainability, Climate Change, ESGDaily News on Net Zero, DeCarbonisation, Carbon Neutrality, Sustainability, Climate Change, ESG
Aa
  • Climate Change
  • Sustainability
  • Business & Finance
  • Carbon Offset
  • Featured
  • Net zero
  • Renewable Energy
Search
  • Home
  • News
    • Sustainability
    • Featured
    • Carbon Offset
    • Net zero
    • Knowledge
    • Climate Change
    • Off Grid Solar
    • RoofTop & Distributed Solar
    • Technical
    • Manufacturing
    • Utility Scale RE
  • World
    • USA
    • UK
    • India
    • Europe
    • Middle East
    • Asia Pacific
    • North America
    • South America
    • Africa
  • Industries
    • Air Travel
    • Automobile
    • Banking
    • Cement
    • Energy
    • FMCG
    • Healthcare
    • Hospitality
    • IT & Computers
    • Shipping
    • Pharmaceuticals
    • Real Estate
    • Steel
  • More
    • Carbon Capture & Storage
    • Carbon Footprint
    • Carbon Tax
    • New Launches
    • Interviews
    • Job Opportunities
    • Policy & Regulations
    • Quarter Results
    • Research Reports
    • Tender
    • Web Stories

Top Stories

Famed climate scientist has a new, dire prediction

Climate Change 3 November 2023

EIB to Unveil €800 Million Climate Action Financing for Projects in Argentina, Brazil, and Chile at EU-CELAC Summit in Latin America

Editors Choice 14 July 2023

Karnataka Considers Ending 100% Road Tax Exemption for Electric Vehicles, Possible Announcement in State Budget

EMobility 8 July 2023
Have an existing account? Sign In
Follow US
Copyright © Ruby Theme Ltd. All Rights Reserved.
Daily News on Net Zero, DeCarbonisation, Carbon Neutrality, Sustainability, Climate Change, ESG > Blog > Carbon Offset > Relying on Carbon Capture and Storage Could Unleash ‘Carbon Bomb’

Relying on Carbon Capture and Storage Could Unleash ‘Carbon Bomb’

Anand Gupta
Last updated: 2023/12/06 at 8:56 AM
By Anand Gupta
Share
7 Min Read

In Short : The statement “Relying on Carbon Capture and Storage Could Unleash ‘Carbon Bomb'” suggests a concern that depending too heavily on carbon capture and storage (CCS) as the primary solution for mitigating climate change may have unintended consequences or risks.

In Detail : “We need to cut through the smoke and mirrors of ‘abated’ fossil and keep our eyes fixed on the goal of 1.5°C,” said a co-author of a new analysis.

While the United Nations climate summit continued in the Middle East, researchers in Germany warned Tuesday that depending on technology to trap and sequester planet-heating pollution could unleash a “carbon bomb” in the decades ahead.

Specifically, the new briefing from the Berlin-based think thank Climate Analytics states that reliance on carbon capture and storage (CCS) could release an extra 86 billion metric tons of greenhouse gases into the atmosphere between 2020 and 2050.

“The climate talks at COP28 have centered around the need for a fossil fuel phaseout,” the publication notes, referring to the United Arab Emirates-hosted U.N. conference. “But some are calling for this to be limited to ‘unabated’ fossil fuels.”

Over 100 countries at COP28 support calling for “accelerating efforts toward phasing out unabated fossil fuels,” or operations that don’t involve technological interventions such as CCS,” as Common Dreamsreported earlier Tuesday.

The new briefing highlights the risks of targeting only unabated fossil fuels. Contrary to claims that significant oil and gas consumption can continue thanks to new tech, it says, “pathways that achieve the Paris agreement’s 1.5°C limit in a sustainable manner show a near complete phaseout of fossil fuels by around 2050 and rely to a very limited degree, if at all, on fossil CCS.”

Additionally, “there is no agreed definition of the concept of abatement,” and “a weak definition of ‘abated’—or even no definition at all—could allow poorly performing fossil CCS projects to be classed as abated,” the document explains. The report’s authors suggest that the focus on unabated fossil fuels is driven by polluters who want to keep cashing in on wrecking the planet.

“The term ‘abated’ is being used as a Trojan horse to allow fossil fuels with dismal capture rates to count as climate action,” declared report co-author Claire Fyson. “‘Abated’ may sound like harmless jargon, but it’s actually language deliberately engineered and heavily promoted by the oil and gas industry to create the illusion we can keep expanding fossil fuels.”

Climate Analytics CEO Bill Hare, who also contributed to the document, said that “the false promises of ‘abated’ fossil fuels risks climate finance being funneled to fossil projects, particularly oil and gas, and will greenwash the ‘unabatable’ emissions from their final use, which account for 90% of fossil oil and gas emissions.”

Report co-author Neil Grant stressed that “we need to cut through the smoke and mirrors of ‘abated’ fossil and keep our eyes fixed on the goal of 1.5°C. That means slashing fossil fuel production by around 40% this decade, and a near complete phaseout of fossil fuels by around 2050.”

As a Tuesday analysis from the Civil Society Equity Review details, a “fair” phaseout by mid-century would involve rich nations ditching oil and gas faster than poor countries, and the former pouring billions of dollars into helping the latter. The United States, for example, should end fossil fuel use by 2031 and contribute $97.1 billion per year toward the global energy transition.

The United States is putting money toward what critics call “false solutions” like carbon capture, and it is not alone. An Oil Change International (OCI) report from last week notes that “governments have spent over $20 billion—and have legislated or announced policies that could spend up to $200 billion more—of public money on CCS, providing a lifeline for the fossil fuel industry.”

OCI found that rather than permanently sequestering carbon dioxide, 79% of the global CCS capacity sends captured CO2 to stimulate oil production in aging wells, which is called “enhanced oil recovery.” The group also reviewed six leading plants in the United States, Australia, and the Middle East, and concluded that they “overpromise and underdeliver, operating far below capacity.”

Lorne Stockman, OCI’s research director, asserted last week that “governments need to stop pretending that fossil fuels aren’t the problem. Instead of throwing a multibillion-dollar lifeline to the fossil fuel industry with our tax dollars, they should fund real climate solutions, including renewable energy and energy efficiency. Fossil fuel phaseout must be the central theme of COP28, not dangerous distractions like CCS propped up with public money.”

Underscoring Stockman’s point that such projects are incredibly expensive, the University of Oxford’s Smith School of Enterprise and the Environment on Monday published research showing that a high carbon capture and storage pathway to net-zero emissions in 2050 could cost at least $30 trillion more than a low CCS pathway.

“Relying on mass deployment of CCS to facilitate high ongoing use of fossil fuels would cost society around a trillion dollars extra each year—it would be highly economically damaging,” said Rupert Way, an honorary research associate at the school.

“Any hopes that the cost of CCS will decline in a similar way to renewable technologies like solar and batteries appear misplaced,” he added. “Our findings indicate a lack of technological learning in any part of the process, from CO2 capture to burial, even though all elements of the chain have been in use for decades.”

TAGGED: 1.5C, Carbon Offset

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Twitter LinkedIn Reddit Email Copy Link

Categories

  • Africa
  • Air Travel
  • Asia Pacific
  • Australia
  • Austria
  • Automobile
  • Bahrain
  • BANGLADESH
  • Banking
  • Battery
  • Brazil
  • Business & Finance
  • California
  • Canada
  • Carbon Capture & Storage
  • Carbon Footprint
  • Carbon Offset
  • Carbon Tax
  • Cement
  • Chile
  • China
  • Climate Change
  • Denmark
  • Editors Choice
  • Egypt
  • EMobility
  • Energy
  • Energy Storage
  • Europe
  • Featured
  • Finland
  • FMCG
  • France
  • Germany
  • Healthcare
  • Hospitality
  • Hydrogen
  • India
  • Interviews
  • IT & Computers
  • Italy
  • Laos
  • Malaysia
  • Manufacturing
  • Mexico
  • Middle East
  • Morocco
  • Net zero
  • New Launches
  • New Zealand
  • North America
  • Off Grid Solar
  • Oman
  • Pharmaceuticals
  • Philippines
  • Policy & Regulations
  • Quarter Results
  • RE100
  • Real Estate
  • Renewable Energy
  • Research Reports
  • RoofTop & Distributed Solar
  • Saudi Arabia
  • Shipping
  • Singapore
  • South Africa
  • South America
  • South Korea
  • Spain
  • Steel
  • Sustainability
  • Taiwan
  • Tender
  • UAE
  • UK
  • USA
  • Utility Scale RE

Related Strories

Carbon Offset

Revealed: How Industry Lobbying is Reducing Nature to a Monopoly Board

By Anand Gupta 24 February 2024
Carbon Offset

OFFSETS PROMISE TO CUT CARBON FOOTPRINTS BUT CRITICS RAISE QUESTIONS

By Anand Gupta 23 February 2024
Carbon Offset

Carbon offsets bring new investment to Appalachia’s coal fields, but most Appalachians aren’t benefiting

By Anand Gupta 21 February 2024
Carbon Offset

Can clean cookstoves ride out the carbon markets storm

By Anand Gupta 16 February 2024
Show More

Get Insider Tips and Tricks in Our Newsletter!

  • Stay up to date with the latest trends and advancements in AI chat technology with our exclusive news and insights
  • Discover and download exclusive chatbot templates, scripts, and other resources.
  • Other resources that will help you save time and boost your productivity.
Daily News on Net Zero, DeCarbonisation, Carbon Neutrality, Sustainability, Climate Change, ESG

We want to live on a healthy, peaceful planet. A planet where forests flourish, oceans are full of life and where once-threatened animals safely roam. Where our quality of life is measured in relationships, not things we have or own.

Quicklinks

  • Contact Us
  • Blog Index
  • Complaint
  • Advertise

Company

  • Privacy Policy
  • Legal Stuff
  • Manage Cookies
  • Terms and Conditions
  • Partners

Follow Socials

All copyrights reserved at CO2 to Net Zero Solutions India Pvt Ltd

Social Chat is free, download and try it now here!

Welcome Back!

Sign in to your account

Lost your password?