Carbon capture, use, and storage (CCUS) could play a significant role in the effort to reach climate goals. The Asia–Pacific region, home to more than 1,300 emitter companies, could represent as much as 55 percent of global CCUS uptake by 2050, find partner Ed Lock and coauthors. Doing so, however, will require the region to boost its current CCUS projects by 450 times.
Image description:
An area graph displays a y-axis segmented into global regions’ projected carbon capture, utilization, and storage uptake by 2050 in gigatons of CO2. The x-axis displays the percentage share of that total segmented into different industries whose carbon is being captured, utilized, or stored. Horizontally, from left to right, the regions are North America, Europe, Asia–Pacific, Latin America, the rest of the world, and the Middle East. Vertically, from top to bottom, the industries include natural-gas processing, cement and lime, iron and steel, hydrogen production, chemicals and refining, power, and emissions not abated by the process of carbon capture, utilization, and storage. Asia–Pacific has, by far, the largest share of the area.
Footnote 1: Hydrogen production, excluding H₂ for ammonia, methanol, and refineries.
Footnote 2: Power figures represent the average value across power scenarios (high and low carbon capture, utilization, and storage uptake).
Source: “Global Energy Perspective 2022,” McKinsey, April 26, 2022; Energy Insights by McKinsey
End of image description.
To read the article, see “Unlocking Asia–Pacific’s vast carbon-capture potential,” February 22, 2023.