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illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:
🗞️ Driving the news: As the COP28 climate conference approaches, the focus is on carbon capture and storage (CCS) as a pivotal tool for limiting global warming to 1.5C
• According to the Energy Transitions Commission, while cutting down fossil fuel usage is crucial, CCS plays an essential role in sectors where CO₂ emissions are inherent
🔭 The context: Carbon capture and storage refers to the process by which carbon emissions are collected after a fuel is burnt so that they are not released into the environment
• They have been the subject of significant controversy in the past as activists claim that they allow polluters to continue emitting carbon instead of focusing on reduction
🌍 Why it matters for the planet: The Commission projects that even with substantial reductions in fossil fuels, achieving the 1.5C target will require CCS to address emissions that cannot be eliminated solely through renewable energy sources
⏭️ What's next: At COP28, nations are expected to debate the balance between reducing fossil fuel use and enhancing CCS
The report advocates for taking a nuanced approach and employ both strategies in the future
📈 One stat: CCS, applied to industrial processes, is projected to capture and store about 4 gigatonnes of CO₂ annually by 2050
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