The potential for using_CO2 as a key tool for global decarbonization is limited by today’s economy

CO₂ utilization currently accounts for less than 5% of the world’s advertised capture capacity; stronger incentives needed, says Wood Mackenzie

Carbon capture, utilization, and storage (CCUS) is a crucial element in global decarbonization, but today’s economics limit the deployment of CO₂ utilization, as high costs and insufficient subsidies hinder the market, according to a recent report by Wood Mackenzie.

In Wood Mackenzie’s net-zero 2050 scenario, more than 7,000 tonnes per year (7 Btpa) of CCUS capacity are needed.
Currently, 500 Mtpa of planned carbon capture capacity has been announced worldwide, of which more than 95% is dedicated to storage and less than 5% (22.4 Mtpa) to utilization, according to the report “To Use or Not to Use? CO₂ utilisation as a carbon capture enabler”.

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