CO2 Emissions and Underground Storage Analysis: Towards Achieving Net-Zero Targets by 2030 and 2050

This thesis addresses the pressing issue of climate change, emphasizing the urgent need to mitigate CO2 emissions in hard-to-abate sectors and align with global net-zero emission targets by 2030 and 2050. It commences by analyzing historical and projected CO2 emissions, examining socio-economic and environmental drivers, and regional variations. The study identifies Asia and OECD countries as critical areas requiring mitigation efforts due to their significant emissions. The thesis then delves into an in-depth evaluation of Carbon Capture and Storage (CCS), examining its functionality and global capacity for underground CO2 storage. It highlights the need for a more comprehensive, internationally recognized methodology for assessing local storage capacities, emphasizing the importance of a consistent database for decision-making and cross-country comparisons. The intersection of emissions data and storage capacity forms the basis of the thesis's pivotal question: Can CCS serve as a realistic and effective response to hard-to-abate sector emissions? The findings indicate that CCS presents a viable option to achieve net-zero targets, with a feasibility analysis revealing cost-effectiveness in hard-to-abate sectors. However, the study cautions against reliance solely on CCS, as available storage volumes may eventually be insufficient to contain emissions. The thesis concludes by exploring the potential of Carbon Capture, Utilization, and Storage (CCUS) or Carbon Capture and Utilization (CCU) as innovative solutions. It showcases examples of CCUS and CCU systems, emphasizing their capacity to reduce emissions and convert CO2 into valuable resources, thereby contributing to a circular carbon economy. The research underscores the importance of ongoing technological advancements, research, innovation, investments, and effective policy frameworks to make CCS and CCU more cost-effective and sustainable. In summary, this thesis underscores the promise of CCS and CCU in addressing hard-to-abate CO2 emissions, offering multifaceted solutions to reduce emissions, create economic incentives, and contribute to global efforts in combating climate change. It underscores the need for collaborative efforts from governments, industries, and the scientific community to realize the full potential of these strategies and transition to a cleaner, more sustainable future.