Carbon Capture, Utilisation, and Storage (CCUS) is important to ensure sustainable development and growth in India especially for the production of clean energy and products. A study report has been released by NITI Aayog named ‘Carbon Capture, Utilisation, and Storage Policy Framework and its Deployment Mechanism in India’. The report explores the importance of CCUS as an emission reduction strategy to achieve deep decarbonisation. The report outlines broad level policy interventions needed across various sectors for its application.
India has updated its NDC targets for achieving 50 per cent of its total installed capacity from non-fossil-based energy sources, 45 per cent reduction in emission intensity by 2030 and achieving net zero by 2070. The role of CCUS becomes important as a reduction strategy to achieve these goals.
The report indicates that CCUS can provide a wide variety of opportunities to convert the captured carbon dioxide to different value-added products like green urea, food and beverage form application, building materials, chemicals, polymers and enhanced oil recovery with wide market opportunities in India. This will further contribute substantially to create a circular economy.
CCUS projects will also help to generate employment. It estimates that about 750 million tonnes per annum of carbon capture by 2050 can create employment opportunities of about 8-10 million on a fulltime equivalent basis in a phased manner.