Are you curious how Carbon Capture, Utilization & Storage (CCUS) connects with Circular Economy?
Here is a brief explanation:
Carbon Capture, Utilization and Storage (CCUS) refers to a suite of technologies that capture carbon dioxide emissions from industrial and power facilities and directly from the air, transport them, and store them underground in geologic storage.
So, why is capturing CO2 emissions so important?
Climate change is currently the greatest threat humanity is facing due to the excessive release of CO2 from industrial and other human activities which caused a disruption to the Earth’s natural climate system and carbon cycle. For this reason, it is vital that nations create collaborative efforts to decarbonize our atmosphere by capturing the excess in CO2 emissions in ways that contribute more efficiently with countries’ compliance of Global Climate agenda.
Following capture, emissions are kept out of the environment by sequestration processes and stored in geological formations underground. Additionally, instead of just storing the CO2, it can be repurposed for several other potential applications aimed to transform the captured CO2 into new materials and products and here is when things get exciting – the potential use of CO2!!!
So, Carbon Utilization allows us to recycle the emissions and create a circular carbon economy formed by trade and several other economic opportunities which are created in the process of attributing a price into carbon and developing a market by transforming new products from CO2.
For this, solid public-private partnerships are critical for the generation of new technologies and proven methods of carbon capture, storage and utilization to present us with exciting opportunities that effectively deal with immediate and long-term climate crisis in an economically viable way.