In its press release following COP28, the UNFCC welcomed the ‘Beginning of the End’ of the fossil fuel era, heralding that COP28 has laid the groundwork for a swift, just, and equitable energy transition, with commitments to deep cuts in emissions and scaled-up finance. Increased investment is critical to triple the current supply of renewable energy required to complete the transition to renewable electric power. While we frequently discuss the need for alternatives to direct electrification, such as low- carbon transport fuels, renewable electricity remains vital to expand the production of low carbon intensity hydrogen, as well as for process heating. The emerging class of e-fuels, by definition, starts with hydrogen. Reducing emissions. Just these two words impart what must be done and define a unified global mission. Since 2015, much investment has focused on developing the solutions required for the transition. While scale-up and implementation are now underway, for many of these solutions it will take the next three decades and longer to complete. During this transition, solutions that reduce emissions in the short term must be deployed, even as we develop more optimal solutions for the longer term. Commitments by the oil and gas industry to reduce methane emissions – through initiatives such as the Global Methane Pledge and the Oil and Gas Climate Initiative’s near-zero methane emissions by 2030 – instil a sense of urgency. Much has been done to improve monitoring and better understand the major sources of methane emissions. Technologies are available to eliminate fugitive emissions from oil and gas operations. Actions to reduce methane from sectors such as municipal waste management are also progressing. Over the next six years, we should see a downturn in methane emissions, leading to a lower concentration of atmospheric methane. While this will signify a turning point, we must not let it distract from the longer-term campaign to reduce carbon dioxide emissions. The Global CCS Institute reports an increase in carbon capture capacity under development in 2023, which will bring the total capture capacity to 361 Mtpa. It also highlights that the levels of policy support from governments and of equity financing have reached historic highs. This is encouraging news, as CCS is an essential technology in the battle against climate change. However, while the number of projects is escalating, more must be done to achieve the target 1 Gt capture capacity by 2030. In the context of a circular carbon economy, some captured carbon may be recycled or reused. Mandates and incentives to develop e-fuels are coming into effect. These measures, along with others such as energy efficiency and sustainable biofuels, will help to reduce and ultimately supplant the demand for fossil fuels.
Managing Editor Rachel Storry
rachel.storry@emap.com tel +44 (0)7786 136440
Consulting Editor Robin Nelson robin.nelson@ decarbonisationtechnology.com
Editorial Assistant Lisa Harrison lisa.harrison@emap.com
Graphics Peter Harper
Business Development Director Paul Mason info@decarbonisationtechnology.com tel +44 844 5888 771
Managing Director Richard Watts richard.watts@emap.com
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Cover Story Co-located with Kellas Midstream’s CATS terminal on Teesside, H2NorthEast will deliver up to 10% of the UK’s 10GW
hydrogen target by 2030. Courtesy: Kellas Midstream
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