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The important role of CCS made clear in IEA Global Energy & CO2 Status Report
27th March 2019
The recently released IEA 2018 Global Energy & CO2 Status Report has once reinforced the important role of carbon capture and storage technologies in decarbonising the energy system, and meeting climate goals.
The annual report provides a snapshot of recent global trends and developments across fuels, renewable sources, and energy efficiency and carbon emissions.
It showed the vital role of CCS in decarbonising the energy system; in the IEA Sustainable Development Scenario, CCS accounts for 7 per cent of the cumulative emissions reductions needed globally to 2040.
IEA Director Fatih Birol, said the "report shows a remarkable increase of 2.3 per cent in global energy demand in 2018 – the fastest pace of growth this decade".
“Last year can also be considered another golden year for gas, which accounted for almost half the growth in global energy demand.
But despite major growth in renewables, global emissions are still rising, demonstrating once again that more urgent action is needed on all fronts — developing all clean energy solutions, curbing emissions, improving efficiency, and spurring investments and innovation, including in carbon capture, utilization and storage.”
He also noted that "fortunately there was also growth in the investment pipeline for CCUS projects after years of decline".