China’s move towards a low carbon future with high-efficiency, low-emissions plants comes hand in hand with their rapid development in Carbon Capture and Storage (CCS) technology to remove CO2 emissions from their plants.
Following agreement to constrain global warming to ‘well below 2°C’ at COP21 in Paris, businesses, as well as governments, will be obliged to demonstrate how they will be 2°C compliant.
After two weeks of intense negotiations and lobbying, the agreement reached by the global community at COP21 in Paris sets an agreed target to constrain global average temperature rise to ‘well below 2°C’, with an ultimate target of 1.5°C. It is clear that with voluntary commitments made by many of the world’s nations in Paris resulting in a predicted temperature rise of 2.7°C, much more is yet to be done.
The oil and gas industry is currently in crisis — supply exceeds demand and has resulted in oil prices falling to less than half their value of 12 months ago. According to the Financial Times in June 2015, this has led to postponement or cancellation of ca. $200 billion worth of projects worldwide (Adams, 2015). The industry is restructuring and many staff are being laid off; figures quoted in June 2015 indicate 150,000 worldwide (Eaton, 2015).
Tees Valley has set out a plan for the UK to lead the world in combining a growing industrial base with substantial reductions in carbon emissions.
Publishing a technically viable, end-to-end blueprint for a shared Industrial Carbon Capture and Storage (CCS) network in July 2015, Teesside Collective set out the economic and environmental benefits the project could bring to Tees Valley and the wider UK.
CCS has a key role to play for both industrial and power emissions reductions and Scotland is well placed to establish CCS infrastructure to enable the development of low carbon industry.