THE STATE OF THE CARBON CAPTURE MARKETS GLOBALLY:
According to the International Energy Agency, 1.6 billion metric tons of carbon needs to be removed and stored annually by 2030 and 7.6 billion metric tons annually by 2050 (to make CCUS' contribution towards net-zero by 2050). How is progress? The annual run rate for carbon captured and stored during the month of December of 2021 by the global fleet of CCUS plants was 40 million metric tons.
McCoy: Relevant Metrics Assessing Progress of the Markets