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What are the technologies for emission removal?

Emission reduction technologies reduce or eliminate carbon dioxide (CO2) and other greenhouse gases from the atmosphere, thereby lowering the risk of climate change. A wide variety of emission reduction strategies exist, ranging from market-based instruments like carbon taxes and cap-and-trade systems to vehicle fuel efficiency standards and emissions-based incentives for renewable energy. Additionally, methane leak detection and repair is a critical strategy for addressing greenhouse gas emissions, particularly in the oil and gas industry, where detecting and fixing methane leaks can significantly reduce overall emissions and contribute to environmental protection.

Carbon capture, use and storage (CCUS) technology is another option for reducing CO2 emissions. In this process, CO2 is removed from emissions and then separated from natural gas to make synthetic fuels or converted into a variety of useful materials, including plastics, cement and chemicals. The resulting materials are then used in place of fossil fuels to generate electricity or heat and cooling. CCS technology has been implemented at a number of fossil fuel facilities in Canada, where it is primarily being used for enhanced oil recovery (EOR) to help increase the extraction of crude oil from aging wells. However, the long distances between the emissions source and the geological repository for storing the captured carbon can make the technology costly and inefficient.

Another emerging technology that is aimed at removing CO2 from the atmosphere is direct air capture (DAC). There are currently 18 DAC plants in operation worldwide, but they capture only about 10,000 metric tons of CO2 per year. In order to meet Net Zero emissions by 2050 targets, it is estimated that DAC will need to be scaled up to 60 million metric tons of CO2 per year by 2030.

Companies need to take a holistic approach when addressing their environmental footprint, including both traditional emission reduction methods and newer emerging technologies. To achieve their goals, they must also ensure that their sustainability & CSR activities are transparently documented and traceable at all levels of the value chain. This requires investing in digital solutions that can rigorously measure, track and report on their emissions at scale.

A good example of this is BCG’s CO2 AI, which automates the reporting of all a company’s internal and external environmental footprints to provide an authoritative single source of truth. By using this software, companies can gain an in-depth understanding of their carbon footprint and identify opportunities to further reduce it.

While industrial technological innovation can be a viable pathway to lower carbon emissions, the recent study found that it has a lower impact than other emission reduction options. This is because technological innovation is highly difficult to control, has a high capital intensity and is often subject to unintended consequences.

A better way to reduce carbon emissions is to adopt low-carbon alternatives that can be deployed at scale, such as solar PV and building retrofits. For cities aiming to reach net-zero emissions, the authors conclude that deep retrofits combined with full grid decarbonization of heating and hot water end uses are needed. It is important that municipal representatives understand what technology pathways will be needed to reach these goals, so they can communicate this clearly with their constituents.

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