Carbon Capture & Storage Projects Stalled Last Year
Though in general here at TreeHugger we're not fans of the sometimes silver bullet status touted by the industry for carbon capture and storage projects, this isn't really a good sign.
A new report from Worldwatch Institute looks at investment in CCS projects for 2011 and finds that funding for them stalled last year, with current projects only capable of dealing with a fraction of a percent of global emissions.
CCS funding in 2011 stood stable from 2010, at $23.5 billion, with some 75 projects underway around the world, and only 8 are operational (a figure unchanged in the past three years).
Taking all these planned and operational projects together, the report says that they can capture just 0.5% of emissions from energy production alone.
Remember that though energy production is a big part of the global emissions pie, emissions from deforestation and from agriculture (which overlaps with deforestation somewhat in most calculations) are also significant.
To even begin to make a meaningful dent in global greenhouse gas emissions, the report says capacity will have to be increased 700%.