Screenshot of IEA's "CCUS in Clean Energy Transitions" report

There's growing momentum behind deploying technology that traps and stores CO2 emissions, but much more investment and stronger policies are needed, the International Energy Agency said in a new report.

Why it matters: The technology is vital to enabling the radical emissions cuts needed through the 2050-2070 timeframe to keep temperature rise in check, the agency said.

  • "Without a sharp acceleration in [carbon capture, utilization and storage] innovation and deployment over the next few years, meeting net-zero emissions targets will be all but impossible," the report states.
  • It also warns that investment has "fallen well behind that of other clean energy technologies," and accounts for under 0.5% of global investment in climate-friendly energy.

By the numbers: Plans for over 30 commercial facilities have emerged over the last three years, and projects nearing final investment decisions represent an estimated $27 billion worth of investment.

  • But the extent of the scale-up ultimately needed must increase by orders of magnitude, IEA said.
  • Currently deployed global capture capacity is around 40 million tons of CO2 per year (as the chart above shows).
  • In its Paris-aligned "sustainable development scenario," by 2070 10.4 gigatons of CO2 is captured "from across the energy sector."

Go deeper: Global climate goals 'virtually impossible' without carbon capture - IEA (Reuters)

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Ben Geman, author of Generate
Oct 27, 2020 - Energy & Environment

The climate peril of used cars

Reproduced from UN Environment Programme; Map: Axios Visuals

A big new UN report delves deeply into an under-the-radar problem: the long-lasting carbon emissions and pollution from used cars shipped from wealthy nations to poorer ones.

The big picture: The UN Environment Programme report finds that between 2015 and 2018, the U.S., EU and Japan together exported 14 million used light-duty vehicles, with 70% going to developing nations. Africa is the largest export destination.

Ben Geman, author of Generate
Oct 27, 2020 - Energy & Environment

Japan's big coal rethink

Illustration: Rebecca Zisser/Axios

Now that Japan has set a target to become carbon-neutral by 2050, the scale of the challenge is coming into focus — especially when it comes to the country's reliance on coal.

Driving the news: Prime Minister Yoshihide Suga's Monday speech announcing the target vowed to "fundamentally shift our long-standing policy on coal-fired power generation," Climate Home News reports.

Deadly Hurricane Zeta slams U.S. Gulf Coast

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta has killed at least one person after a 55-year-old man was "electrocuted by a downed power line" in Louisiana as the storm caused widespread power outages Wednesday night, per AP.

What's happening: Zeta made landfall south of New Orleans as a Category 2 hurricane earlier Wednesday before weakening to Category 1. But it was still "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain" late Wednesday, per the National Hurricane Center.