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illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below:
🗞️ Driving the news: Carbon dioxide (CO2) utilization could enhance carbon capture projects, but less than 5% of global carbon capture capacity involves utilization, with significant barriers hindering its broader adoption
🔭 The context: Carbon capture utilization and storage (CCUS) is essential for global decarbonization, requiring up to 7 billion tonnes of CO2 capture annually by 2050 to meet net-zero targets
• Despite the economic potential of CO2 reuse in e-fuels or industrial processes, limited policy support and high costs present significant obstacles
🌍 Why it matters for the planet: Effective CO2 utilization could transform carbon into a valuable resource, enabling wider adoption of carbon capture technologies crucial to mitigating climate change
⏭️ What's next: For CO2 utilization to scale, technological costs must drop, and robust policy incentives are needed to develop competitive markets for decarbonized products
💬 One quote: “Utilization could enable increased CO2 capture deployment through the creation of a large-scale CO2 commodity market,” highlighting the potential of reuse in industries like shipping and aviation
📈 One stat: Only 5% of announced carbon capture capacity involves CO2 utilization today
Click for more news covering the latest on carbon capture & storage
