The level of policy support from governments has reached an historic high in 2023, strengthening the business case for CCS and resulting in the CCS project pipeline growing more rapidly in the past year than ever before.
Scaling up through 2030
We are now seeing a rapid escalation in the development of new CCS projects, although relatively few have yet advanced to operation. Given projects typically take 7 years or more to develop, the lag is not surprising.
The impact of recent policy developments, notably in Europe and North America, is expected to be a sustained increase in the number of CCS projects in development, and a greater proportion of them successfully progressing to construction. Now there are far fewer cost surprises and policy drivers are much stronger. The game has changed.
01
48%
increase
The level of policy support from governments has reached an historic high, strengthening the business case for CCS and resulting in the CCS project pipeline growing more rapidly in the past 12 months than ever before.
02
198 new
facilities
198 new facilities have been added to the development pipeline bringing the current total to 41 projects in operation, 26 under construction and 325 in advanced and early development.
03
Regional
overview
11 new countries have registered CCS facilities in various stages of development since the 2022 report, while Australia has overtaken the Netherlands to join the US, UK, Canada and China in the top five countries for CCS deployment.
