Carbon capture key to global climate targets, warns IEA

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Updated 25 September 2020

Carbon capture key to global climate targets, warns IEA

OSLO: A sharp rise in the deployment of carbon capture, utilization and storage (CCUS) technology is needed globally if countries are to meet net-zero emissions targets designed to slow climate change, the International Energy Agency (IEA) said on Thursday. 

A growing number of countries and companies are targeting net-zero carbon dioxide (CO2) emissions by around the middle of the century in the wake of the 2015 Paris climate agreement. To reach that, the amount of CO2 captured must rocket to 800 million tons in 2030 from around 40 million tons today, the IEA, which advises industrialized nations on energy policies, said in a report.

Up to $160 billion needs to be invested in the technology by 2030, a ten-fold increase from the previous decade, it added. 

“Without it, our energy and climate goals will become virtually impossible to reach,” the IEA head Fatih Birol said in a statement. 

The global economic downturn caused by the COVID-19 pandemic risks delaying or canceling projects dependent on public support, the IEA said. An oil price slide had also reduced revenues for existing CCUS facilities selling CO2 for so-called enhanced oil recovery (EOR). However, the IEA added: “Economic recovery packages are a unique window of opportunity for governments to support CCUS alongside other clean energy technologies.” 

Referring to a major investment to build two carbon capture plants and an offshore CO2 storage facility, Birol said: “Norway showed its leadership in Europe by making a major funding commitment to the Longship project.”

Nonetheless, the story of CCUS has largely been “one of unmet expectations,” marred by lack of commercial incentives, large capital costs and public opposition to storage, especially onshore, the IEA said. 

In 2009, the agency called for 100 large-scale CCUS projects to be built by 2020 to store around 300 million tons of CO2 per year. To date, just 20 commercial projects are in operation, capturing around 40 million tons per year.

Biden slams Trump friendship with ‘thug’ Kim

Updated 11 min 49 sec ago

Biden slams Trump friendship with ‘thug’ Kim

  • Trump insists that he has avoided war through his summits with Kim Jong Un
  • The two leaders have three times and North Korea has held off on nuclear and missile tests

NASHVILLE, USA: Democratic candidate Joe Biden on Thursday denounced President Donald Trump for befriending North Korea’s “thug” leader, likening his diplomacy to working with Hitler.
In a sharp clash in their final presidential debate, Biden attacked Trump’s insistence that he has avoided war through his summits with Kim Jong Un.
“He’s talked about his good buddy, who’s a thug,” Biden said of the young North Korean leader.
“That’s like saying we had a good relationship with Hitler before he invaded Europe — the rest of Europe. Come on.”
But Biden indicated he was also willing to meet with Kim, saying his condition would be that Pyongyang works to make the Korean peninsula “a nuclear-free zone.”
Trump said that former president Barack Obama had left him “a mess” on North Korea and had warned him of the risk of “nuclear war.”
After the summits, “we have a very good relationship. And there’s no war,” said Trump, who also played down North Korea’s recent unveiling of a massive new long-range missile at a military parade.
“He didn’t like Obama,” Trump said of Kim not meeting the former president. “He didn’t like him. He wouldn’t do it.”
Biden, who was vice president under Obama, hit back that Obama would not meet Kim because he was pushing stronger sanctions.
“President Obama said we’re going to talk about denuclearization. We’re not going to legitimize you.”
Trump first met in June 2018 with Kim in Singapore, the first-ever summit between the countries still technically at war, and later said that the two leaders “fell in love.”
The two leaders have met two more times and North Korea has since held off on nuclear and missile tests but analysts say Pyongyang has kept advancing its weapons programs.