What are the Transformational Growth Opportunities in Carbon Capturing Across Industries?

Overview

Carbon capture, utilization, and storage (CCUS) is experiencing increased traction from industries as one of the most useful and rapid decarbonizing strategies. Environmental needs resulting in global efforts to combat climate change, determined contributions from governments across economies, necessary industrial emission regulations, rising demands from eco-conscious consumers, and accessible advanced technology are factors that not only enable CCUS but also drive the necessity.

Successful results from CCUS implementation can only be achieved when all forces come into play, which includes, technology maturity, government initiatives supporting the development of CCUS and industrial collaborations for cross-sectoral benefits.

In order to meet net-zero commitments, the governments of various countries are enacting initiatives to boost adoption. As far as technology impact is concerned, advanced technologies can be leveraged to cater to the needs of the CCUS process and enhance overall process efficiency. Environmental factors are major drivers of CCUS deployment, triggered by rising carbon footprint, industries have recognized CCUS as the tool for decarbonization to unleash zero emission goals in the short-term.

Characterized by immature technology for an extended period, CCUS has potential risks and challenges linked to its implementation. Innovative business models are emerging to address these challenges with private and public players together contributing towards the R&D of cost-effective and efficient technologies which will scale up the trend adoption levels in the long run.

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