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CCS Can't Compete with Renewables, Won't Deliver by 2030, Report Finds

Carbon capture and storage may have an important role to play in hard-to-decarbonize sectors like iron and steel, but won't pay off for oil and gas companies without continuing government subsidies, the International Institute for Sustainable Development (IISD) concludes in an analysis released this week.
IISD in the news September 8, 2023

Report finds carbon capture's 'stubbornly high' prices are likely here to stay

Canada's oil and gas industry says costly technology it plans to use to reduce its climate footprint requires more investments from the federal government. If governments lend a hand now, the industry maintains the technology will become more affordable over time as more projects proceed, but a new analysis casts doubt on that claim. "Carbon capture and storage is expensive, and the costs are not likely to come down in the timeframe needed to meet our climate targets," said Laura Cameron, one of the report's three authors and a policy adviser for the International Institute for Sustainable Development.
IISD in the news September 7, 2023

Carbon capture projects are too costly, have ‘questionable’ benefits, report finds

Technology the oil industry is counting on to reduce emissions–carbon capture and storage–is too expensive and difficult to deploy quickly enough to help Canada meet its climate commitments, a global environmental think tank says. Relying on carbon capture and storage to cut greenhouse gases from oil and gas production will mean large public subsidies for projects that are unable to compete on costs against expanding renewable energy sources, rendering the benefits "questionable," the International Institute for Sustainable Development said in a report released Thursday.
IISD in the news September 7, 2023

The world is waiting for the G20 to firm up its stance on climate change

Up until recently, it was hyperbolic to say that climate change would burn up the world, but it’s actually happening today. The string of wildfires in Hawaii, Spain, Canada and Greece this year has destroyed entire settlements, but climate change is not merely about wildfires. It is also the primary reason behind the torrential rainfall and landslides in Himachal Pradesh and Uttarakhand, Beijing’s worst flooding in 140 years and strangely enough, August 2023 was India’s driest August for 122 years despite the monsoons. The pattern is clear: Under the business-as-usual attitude, we have the makings of a serious challenge to organized life under runaway climate change. It will disturb sowing patterns, diminish crop yields, upend livelihoods and destabilize human development indicators. Excessive human-induced CO2 emissions are squarely responsible.
IISD in the news September 7, 2023

Building a Net-Zero World: How U.S. Finance Can Strengthen Clean Energy Manufacturing Abroad

The world needs to rapidly expand and diversify clean energy supply chains to achieve net-zero carbon dioxide emissions by 2050 and mitigate dangerous climate impacts. While some sectors, such as solar photovoltaic manufacturing, are on track to hit their 2030 targets, there are major shortfalls in the production of many other clean energy products.
IISD in the news September 5, 2023

UN unveils plastic treaty "zero draft"

The UN Environmental Programme (UNEP) has released the "zero draft" of its legally-binding treaty to tackle plastic waste, including options to restrict virgin plastic production and mandate recycled content requirements. The zero draft will be debated by participating states at the third session of the Intergovernmental Negotiating Committee (INC-3) in November.
IISD in the news September 5, 2023