A benchmarking report on industry attitudes towards carbon capture, utilization, and storage (CCUS) has revealed that 65% of executives working in hard-to-abate sectors see CCUS as ‘critical’ or ‘important’ reaching their 2030/2050 environmental goals.
The “Scaling up CCUS – market insights” report is based on an anonymized survey of senior executives and input from an expert panel. It is published by Decarb Connect, a platform that connects the hard-to-abate sectors, and Carbon Clean, a carbon capture technology and services company.
The report is broken down into three key areas: the economics of carbon capture, the operational challenges around CCUS, and the pace of roll out. It found that 34% of respondents plan to roll out a CCUS solution in the next six years, increasing to 60% with CCUS adoption plans into the next decade.
Among the operational challenges, space is a key barrier to widespread CCUS adoption, with most executives working in hard-to-abate sectors noting it as an issue. The most frequently mentioned concern was around the onward transportation and disposal of captured carbon — from the distance to markets, to the development of transportation and storage infrastructure — as well as markets for carbon use.
The survey also provided valuable insights on the optimal purchasing model for industries with 41% of respondents most interested in a fully funded CCUS model and 59% preferring a mix of funded/operated and owned equipment. No respondents selected outright equipment purchase.
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