The $17.6 Trillion Solution To Climate Change.
This week, the world’s leaders are gathering in Lima, Peru for the UN Framework Convention on Climate Change, where they hope to put together a plan for cutting global emissions that will slow the inexorable warming of the planet.
The convention follows a deal reached last month by the United States and China – the globe’s top two polluters – to cut their emissions. For China, this means capping its emissions at whatever rate they hit in 2030, while the U.S. pledges to reduce its emissions by 26 to 28 percent of its 2005 levels by 2025.
Before we all stifle a yawn at the prospect of reading yet another treatise on the unlikelihood of the world actually agreeing to anything beyond a set of useless platitudes, know that there is another way of going about the reduction of carbon in the atmosphere, and that is carbon capture and storage.
Related: China’s Emissions Could Negate Global Efforts Against Climate Change
CCS, as it’s known in the industry, involves sequestering waste carbon dioxide from oil and gas or coal mining operations, pipelining it to a storage facility, and then injecting the CO2 underground in order to prevent it from escaping into the atmosphere.
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