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illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:
🗞️ Driving the news: ExxonMobil, known for its Esso brand, is under scrutiny for potentially greenwashing through its unfulfilled carbon capture initiative at its Fawley refinery in Hampshire
• Despite promoting a plan to trap and store CO2 emissions under the English Channel, the project lacks a license, government backing, and direct investment from the company itself
🔭 The context: The Fawley project aimed to make significant strides towards the UK's net-zero goals by capturing 2.7 million tonnes of CO2 annually through a new "blue hydrogen" plant
• However, carbon capture and storage (CCS) technology has been slow to develop, with only 41 CCS plants worldwide, capturing just 0.1% of global CO2 emissions
🌍 Why it matters for the planet: CCS is critical for achieving net-zero emissions, but ExxonMobil's failure to advance its Fawley project reflects broader challenges in deploying CCS technology effectively
• This situation underscores the difficulty of relying on oil companies for climate solutions, highlighting the need for viable, scalable alternatives to fossil fuel dependence
⏭️ What's next: The future of ExxonMobil's carbon capture initiative remains uncertain without necessary approvals, funding, and company investment
• The industry's commitment to CCS as a solution to climate change is questioned, as investments continue to prioritize fossil fuel production over sustainable technologies
💬 One quote: "Carbon capture and storage does not appear to be much closer to reducing carbon emissions, or being affordable, than it did 20 years ago," (Doug Parr, chief scientist for Greenpeace UK)
📈 One stat: There were 41 CCS plants operating globally by the end of last year, capturing about 0.1% of annual global CO2 emissions
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