Is CO2 Capture Near The Day When It Will Be Established As a Business?

Is CO2 Capture Near The Day When It Will Be Established As a Business?

“Carbon dioxide capture, utilization, and storage (CCUS),” which extracts carbon dioxide (CO2) from the exhaust gas and atmosphere of industrial facilities, has recently attracted the attention of the media. The technology itself has existed for many years, but so far it has had little economic benefit.

The CO2 recovery business is becoming more realistic as the price per ton of recovery is rising. Almost 90% of the high-concentration CO2 emitted from industrial facilities can be recovered by a relatively simple method. On the other hand, the concentration of CO2 in the atmosphere is quite low, and the rate of recovery is small.

The recovered CO2 needs to be stored in an appropriate place that does not induce an earthquake. Alternatively, it can be used for other purposes such as construction materials. With the rise in CO2 prices, many projects have been launched and the construction of recovery facilities is underway. There are various places of implementation, and some try to recover from the upper atmosphere.

However, CO2 capture alone is not a solution to the climate crisis and should not be used as an excuse to argue that greenhouse gas reduction is unnecessary. Although there are necessary technologies, historically, the ratio of the recovered amount to emission amount is overwhelmingly low. Most of the CO2 is injected into the underground oil reservoir and used for further mining of fossil fuels.

In order to increase CO2 capture to a level that makes sense both economically and environmentally, it is necessary to build a huge number of factories and have intrinsic value beyond emissions trading, which will help humankind to survive on the earth. We must create a market that will be a way to invest. In addition, the process needs to be able to be practiced and audited by everyone. For example, new cultivation methods have been developed that allow farmers to contribute to CO2 capture.

The idea would make sense if one ton of recovered CO2 could be seen as a sustainable approach in its own right, rather than simply being purchased as an excuse to emit another ton. Become. All future scenarios involve balancing greenhouse gas emissions using these types of technologies. What we need to do now is to deal with this with the right mindset.

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