Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Pressure mounts to bury carbon emissions, but who will pay?

LONDON, Nov 29 (Reuters) - When countries gather on Sunday to hammer out how they will enact pledges to cut carbon emissions, a Norwegian-led oil consortium will offer a solution: pump some of your excess carbon dioxide to us and we could store it for you.

Environmentalists worry the costly technology, known as carbon capture and storage (CCS), will perpetuate the fossil fuel status quo when rapid and deep cuts energy use are needed to limit global warming.

But proponents of CCS will be lobbying hard at the two-week climate conference in Katowice, Poland, for the extensive investment and regulatory change required to employ it at scale, citing U.N. assessments that it could play a role.

"The expectation is that Katowice will be important," said Stephen Bull, a senior vice president at Norwegian state-controlled oil company Equinor, which is involved in developing a CCS project called Northern Lights.

"CCS is the only way to go," he said, arguing that countries need the technology to help fulfill the pledges they made around the time of the breakthrough Paris climate change agreement in 2015.

A United Nations report warned on Tuesday that nations would have to triple their current efforts to keep global temperature rises