Carbon capture utilisation and storage policy framework
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NITI Aayog releases study report on ‘Carbon Capture, Utilisation, and Storage (CCUS) Policy Framework and its Deployment Mechanism in India’
- CCUS is key to ensuring sustainable development and growth in India, particularly for the production of clean products and energy, leading to an Atmanirbhar Bharat
- carbon Capture Utilisation and Storage (CCUS), the technology for decarbonising carbon dioxide (CO2) from high polluting sectors such as steel, cement, oil, gas, petrochemicals, chemicals and fertilisers
- the report explores the importance of the technology as an emission reduction strategy to achieve deep decarbonisation from the hard-to-abate sectors. The report outlines broad level policy interventions needed across various sectors for its application.
- CCUS projects will also lead to a significant employment generation. It estimates that about 750 mtpa of carbon capture by 2050 can create employment opportunities of about 8-10 million on full time equivalent (FTE) basis in a phased manner.
It can provide a wide variety of opportunities to convert the captured CO2 to different value-added products like green urea, food and beverage form application, building materials (concrete and aggregates), chemicals (methanol and ethanol), polymers (including bio-plastics) and enhanced oil recovery (EOR) with wide market opportunities in India, thus contributing substantially to a circular economy.