Close collaboration between the public and private sectors will be needed to scale and mobilise the industry. Luciano Di Fiori, Partner at McKinsey, said: “CCUS is critical to delivering the world’s net zero commitments and will need to play a material role in low-carbon hydrogen and decarbonizing tens of thousands of carbon-intensive industrial facilities worldwide. Meanwhile, governments may need to define the role of CCUS in their industrial strategies and create the regulatory, tax and reporting frameworks that will allow the industry to scale, while still using subsidies for early projects to stimulate future growth. The industry may need to reduce the cost of CCUS through small-scale pilots, while collaborating to form cross-sector clusters to share large infrastructure like pipeline networks. New revenue streams may need to be developed, including new uses for carbon dioxide (CO 2) as an industrial feedstock, and targeting consumer segments willing to pay for premium-priced green products. Scaling CCUS at the pace required will call for coordinated action by governments, investors, and industry players. But CCUS adoption needs to grow 120 times by 2050 for the world to meet its existing net zero commitments, at a cost of US$130 billion/yr – more than governments are willing or able to afford alone.
McKinsey's new research paper, Scaling the CCUS industry to achieve net zero emissions, recently released, finds that CCUS has the potential to decarbonise 45% of remaining emissions from carbon-intensive industries ranging from cement to steel production. Carbon capture, utilisation, and storage (CCUS) technologies are being adopted too slowly to achieve even the IPCC’s 2.0° upper limit for global warming, according to a new McKinsey study.
0 kommentar(er)
