The current status of carbon capture, utilization, and storage (CCUS) deployment varies globally. While CCUS projects have been implemented in various industries, including power generation and industrial sectors, the overall deployment remains relatively limited compared to the scale needed to meet climate change mitigation goals.
However, there is increasing recognition of the importance of CCUS in achieving net-zero emissions and transitioning to a low-carbon economy. Many countries and organizations are actively working to advance CCUS deployment and create supportive policy frameworks. Governments are providing financial incentives, implementing carbon pricing mechanisms, and investing in research and development to drive innovation and reduce costs.
Future prospects for CCUS are promising. Ongoing technological advancements, such as the development of more efficient capture technologies and the exploration of new utilization methods, are expected to enhance the viability and economics of CCUS. Additionally, international collaborations and knowledge sharing are accelerating the deployment of CCUS globally.
CCUS is seen as a critical component of the portfolio of solutions needed to address climate change, and its deployment is expected to increase significantly in the coming years as countries strive to achieve their emission reduction targets and transition to a sustainable, low-carbon future.