The importance of CCU/S technologies was also highlighted at the UN COP28 climate conference!
The International Energy Agency (IEA) published a new report to support - among others - the preparation for the climate conference, in which it discusses the four pillars of the 2020s that could play a key role in limiting the global average temperature increase to 1.5°C. Pillar 4 highlights the importance of carbon management, according to which carbon capture, utilization and storage (CCU/S) technologies are needed to achieve the climate goals even if other clean technologies are aggressively deployed.
50 companies representing more than 40% of global oil production have joined the Oil & Gas Decarbonization Charter (OGDC), the aim of which is to speed up action on climate change and achieve high-scale impact within the oil and gas sector. It is stated that the implementation of the ambitions requires an increased level of alignment with the best practices of the industry, which would mean further emission reductions by, e.g. the deployment of CCU/S.
At the COP28 climate conference's high-level roundtable meeting on carbon management, these views were also shared: all parties were fully committed to the rapid scale-up of CCU/S solutions.
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