Meeting of senior ministers in Beijing hears that CCS is being left behind due to financial crisis and weakening political will
The financial crisis and fading government support for climate action have seriously eroded global plans to capture and store carbon, the International Energy Agency (IEA) warned on Thursday.
Sequestration – the depositing of greenhouse gases underground rather than into the atmosphere – was supposed to account for a fifth of the world’s emissions reductions under the agency’s roadmap for keeping global temperature rise within 2C (4F) by the end of the century.
But delegates including the US energy secretary, Steven Chu, heard at a meeting, held in Beijing, that the global temperature is on course to rise by 3.5C, due to poor progress both on carbon capture and storage, and on acceptance of a carbon price and other carbon-cutting efforts.
IEA deputy executive director, Richard Jones, told the meeting, hosted by the Washington-based Carbon Sequestration Leadership Forum, that this would wreak havoc on human wellbeing. He added that time was running out to avoid this scenario because of slow progress on carbon capture and sequestration (CCS).