Sunk costs: Carbon capture and storage will miss every target set for it
Industry, government and international organisations have given CCS credibility by making predictions about its success and setting targets that give it a clear place in emissions reductions plans.
The only institutional target that CCS has met concerns the number of CCS projects launched. All targets for number of projects actually built and operating or for millions of tonnes of CO2 actually stored each year (“Mtpa”) have either not been met, or are not on track to be met.
The floundering of CCS over the past decade means that we cannot rely on it to reduce emissions from electricity generation. That sector should be decarbonised through uptake of renewable energy, closure of fossil fuel power plants and increased energy efficiency.