Carbon capture and storage involves the processes of capturing carbon dioxide - typically from industrial processes or from burning fossil fuels – and transporting and storing it permanently deep underground in geological formations such as depleted oil and reservoirs.
The technology behind CCS is well-proven and has been around for more than 40 years. It has traditionally been used for enhanced oil recovery (EOR).
Now, CCS is counted as one of the most effective ways to decarbonise, making it a vital technology on the road to global net zero. According to the UN Intergovernmental Panel on Climate Change (IPCC), as the world transitions to a lower-carbon economy, global temperature changes cannot be kept at bay without capturing and storing CO2.
The European Union will need to establish a carbon storage capacity of 250 million tonnes of CO2 per year by 2040 to achieve the objectives of the Paris Agreement. With global capture volumes currently at 45 mpta (IEA), we are still far from the target. Scaling the industry will require action by governments, investors, and industrial actors.
Momentum around CCS is growing and Greensand is helping accelerate change.
Access these sources to learn more about CCS: