IEA cautiously optimistic about the development of CCS

In November, the IEA’s Head of CCUS provided some general reflections as to why CCS has largely failed to be seen as an important climate initiative in the past, and what will be important for it going forward. The IEA outlines three important conditions behind their optimism for the future development of CCS.

Three conditions behind the IEA’s optimism for the development of CCS

projects are now concentrated around industrial hubs with shared infrastructure for transport and storage
more robust public financing schemes are available creating greater predictability for operators
and tougher and more binding climate policies have been adopted. The IEA is cautious about claiming this will guarantee the success of the well over 100 projects that are currently being planned. Even if all the projects currently being planned are realised (something the IEA itself does not believe will happen), the combined capacity of these projects in 2030 will only constitute about 10% of what the IEA believes is necessary to be on track to reach net-zero by 2050.

The CCS Environmental Analysis is prepared by Gassnova’s analysis team.

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