Cost to bury carbon near tipping point as emissions soar

“Carbon pricing is driving industries to push to adopt the technology sooner,” said Samantha McCulloch, head of carbon capture usage and storage at the International Energy Agency.

LONDON: Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried.

The market for these tools could reach US$2 trillion (RM8.47 trillion) if used to cut pollution from heavy industry, according to Credit Suisse Group AG.