COP28: CCS dependency to cost $1tn a year more than renewables route, study says
A new report from the University of Oxford has found that net-zero pathways heavily dependent on carbon capture and storage (CCS) will cost at least $1tn more per year than scenarios involving renewables. The report highlights the gross underestimation by countries pushing for CCS technology as a substitute for immediate emissions cuts. Transitioning to renewables to reach net zero emissions would cost at least $30tn less. The report also warned that heavy dependence on CCS would be economically damaging and called for governments to scale up investment and stick to essential use cases for CCS...
Source: hindustantimes.com