2024 Global Status of CCS Report shows record number of projects in CCS pipeline, global capture capacity on track to double
The Global CCS Institute recently released its annual Global Status of CCS Report, which underscores key milestones in the development of carbon capture and storage (CCS) over the past year. Notably, the report highlights a record number of CCS projects currently underway, alongside projections indicating a twofold increase in global CO2 capture capacity.
According to the report, 237 CCS facilities were added to the project pipeline since last year’s report, with more than 628 total projects in the CCS pipeline—a 60% year-over-year increase. Of those 628 total projects, 247 are in Front End Engineering and Design (FEED), a number that has more than doubled since 2023 and contributed to a 64% year-over-year uptick in carbon capture and storage projects either in development or under construction.
Below are additional key highlights from the report:
- 79 capture facilities in operation across 9 industries
- US leads global CCS development, with 276 current projects
- 212 CO2 transport and/or storage projects are in FEED studies
- 20 Direct Air Capture (DAC) projects are either operational or in development
- Global operating CO2 capture capacity on track to double when facilities under construction begin operating
These figures demonstrate important progress toward making large-scale CCS development a reality, not just in the US, but around the world. The US leads global CCS development, with 276 projects—a 79% increase from 2023, and a 324% increase over its next-closest competitor, the United Kingdom—thanks to favorable policies and tax incentives. However, CCS is also quickly gaining popularity in the Middle East, Africa, China, Asia Pacific, and India as they seek to decarbonize their rapidly growing and fossil-fuel dependent economies.
Reports like these are crucial in demonstrating the significant progress of CCS technology, while also underscoring the ongoing need for robust advocacy, strategic engagement, and supportive policies. These actions are essential not only to accelerate the full-scale deployment of CCS in the U.S. but also to continue to be a leader in CCS. By fostering an environment that supports innovation and investment in CCS, the U.S. will continue to drive this industry forward and set the global standard.
Click here to read the full report and learn more about the essential role CCS will play in decarbonizing our world.
