Carbon Capture Utilization and Storage (CCUS), Hydrogen, and Bioenergy are essential technologies that can be utilized to weed out Carbon Dioxide (CO2) emission and treat it thereby achieving maximum results out of it, according to a KPMG report.
The report titled ‘Decarbonizing growth’ said that globally the main sources of carbon today are electricity (42 per cent), transport (25 per cent), and industries (18 per cent). Decarbonization becomes difficult due to investments locked-in in coal-based power plants in developing countries.
The Intergovernmental Panel on Climate Change (IPCC) in its research on global warming found that limiting global warming to 1.5 degree celsius requires net CO2 caused by human activities to decline 45 per cent by 2030 and reaching net zero by 2050.
CARBON CAPTURE UTILIZATION AND STORAGE
The KPMG report marks CCUS as a crucial technology to enable net-zero carbon emission. CCUS is an emissions reduction technique used to capture CO2 emissions produced by the use of fossil fuels and is a crucial enabler for the fulfillment of “Net Zero” ambitions.
The first step is the capture stage where CO2 is separated from other gases released during the industrial process including manufacturing or power generation.