COP30 in Brazil: Lobbyists for CO2 Capture Strongly Present - Big Oil and tech unite at COP30 to push carbon capture as a climate fix
Oil giants and tech titans are joining forces at COP30 to promote carbon capture and storage (CCS) as a solution to combat climate change. The fossil fuel industry, led by majors like ExxonMobil and Shell, is advocating for CCS to 'clean up' coal, oil, and gas use. Meanwhile, climate advocates warn against overreliance on the technology.
CCS involves trapping CO₂ emissions from power plants and industrial processes, then storing them underground. Its potential use in hard-to-decarbonize sectors like cement production has drawn interest. Amazon and the Port of Antwerp-Bruges are also backing CCS at the conference.
Legislation enabling CCS deployment has been passed in Germany, with plans to expand its use to gas-fired power plants. However, critics caution that overreliance on CCS may delay the phase-out of fossil fuels and reduce power plant efficiency. Organizations like the IEA, the World Bank, and various environmental NGOs are advocating for the promotion and expansion of CCS technologies at COP30.
CCS is gaining traction at COP30, with oil majors, tech giants, and governments advocating for its use. However, climate advocates urge caution, highlighting potential drawbacks and the need for a balanced approach to combating climate change.
