Thursday, May 23, 2024
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In a recent address at CERAWeek 2024, Chevron’s Vice President of CCUS, Chris Powers, underscored the critical role of Carbon Capture, Utilization, and Storage (CCUS) in achieving global carbon emission reduction targets. Powers emphasized the need for innovation, collaboration, and supportive policies to scale up CCUS initiatives.

Experts in climate and energy echo the sentiment that CCUS is indispensable for reducing the world’s carbon footprint. Powers emphasized Chevron’s commitment to addressing climate change by developing cleaner and more sustainable energy solutions, with CCUS playing a pivotal role in meeting the objectives outlined in the Paris Agreement.

To realize the full potential of CCUS, Powers stressed the importance of establishing foundational projects and fostering partnerships among companies, governments, and academic institutions. Collaborative efforts are deemed essential for advancing carbon capture projects, particularly in sectors like refining, power generation, and cement production, which pose unique challenges.

Policy frameworks play a crucial role in facilitating the expansion of CCUS technologies. Powers highlighted the necessity of stable regulatory environments, long-term market incentives, public infrastructure investments, and streamlined permitting processes to accelerate the adoption and deployment of CCUS solutions on a global scale.

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