Carbon Capture, Utilisation and Storage Challenges

This technical report examines the current state and challenges of carbon capture, utilisation, and storage (CCUS) technologies, particularly in hard-to-abate industries such as energy, cement, and chemicals. It outlines the critical role CCUS is expected to play in achieving net-zero emissions, as it is projected to contribute significantly to emissions reductions in these sectors. The report discusses the technical and economic hurdles that have hindered the commercialisation of CCUS, including the high energy requirements and the need for substantial investment. It also details the current landscape of CCUS projects, which are primarily in the prototype or demonstration phase, and highlights the reliance of the oil and gas sector on these technologies. Furthermore, the report addresses the implications for companies and investors, emphasizing the need for clearer disclosures regarding CCUS strategies and associated risks. It concludes by noting the importance of public policy in mobilising capital for CCUS initiatives and fostering industry collaborations to enhance technology deployment.