Decarbonizing Industry

Our cars, buildings, manufacturing equipment, and infrastructure would not be as durable, reliable, safe, or affordable without innovations in steel. However, the steel industry contributes 7–9% of global CO₂ emissions. Carbon capture, utilization, and storage (CCUS) can significantly reduce emissions from iron and steel production, complementing green hydrogen and electric arc furnaces (EAFs) by addressing emissions from existing infrastructure and providing a transitional solution as the industry shifts to greener methods.

The cement industry provides the essential material for constructing buildings, roads, bridges, and other structures, contributing significantly to economic growth. However, the cement industry accounts for 6–8% of global CO₂ emissions due to the calcination of limestone. Despite efforts to enhance energy efficiency and use alternative fuels, the inherent chemical process of cement production results in substantial emissions. CCUS is a crucial solution for reducing these emissions.

The chemicals industry is vital to the modern world economy, converting raw materials like oil, natural gas, air, water, metals, and minerals into a wide range of products used in everyday life and industrial applications. However, the chemicals industry contributes 4% of global greenhouse gas emissions. Decarbonization strategies, including energy efficiency, electrification, sustainable feedstocks, advanced catalysts, and CCUS, are vital for achieving net-zero emissions and ensuring the industry's sustainability.

Electricity generation accounts for 40% of global energy-related emissions. While solar, wind, and energy storage are expanding, a diverse energy mix remains necessary. Geothermal energy provides consistent, weather-independent power, making it a reliable renewable option. For existing fossil fuel-based power plants, carbon capture is a viable option to reduce emissions. Combining geothermal energy for new projects with carbon capture for existing plants is crucial for a sustainable, low-carbon energy system.

Oil and gas supply over 50% of the world's primary energy, which is essential for economic stability and development. However upstream, they contribute around 15% of global energy-related emissions. Reducing these emissions is crucial for climate goals. More than 50% of the industry's emissions are related to methane venting and fugitive leaks, while gas flaring contributes another 5%. Managing methane and flaring is a priority, and proven technologies can significantly reduce emissions and environmental impact.

Today, 75–100% of the CO₂ emissions from pulp mills originates from biomass. Though the pulp and paper industry accounts for only about 2% of global industrial emissions, it has a unique opportunity to achieve negative emissions through Bioenergy with Carbon Capture and Storage (BECCS). This puts BECCS projects in the unique position of being in the money from the outset due to interest from companies seeking to purchase Carbon Removal Credits (CDR) to offset their emissions.