One of the famous and most prominent technology in the sustainable business is the focus on how to capture the carbon and improve the carbon storage facility. The process has been dependent on capturing the carbon dioxide and store it in an underground geological formation site to enable the environment protection by not allowing it to enter into the atmosphere. As one of the major problems associated with the environmental issues, tackling such a problem has become a crucial attempt to further reduce and hold onto the implications of environmental problems and issues in the future.
As per some experts and the geographical evolution of the coal mines, abundance of coal plants is available in China and India, due to the benefits of such abundance, it will take years for it to get depleted leading the conversationalist to suggest that the CCS technology will be worth venturing for emerging countries like China and India.
The facility for CCS technology available with opened facilities in China are: –
As per the survey result by Bloomberg New Energy Finance, in 2020, the investments in carbon capturing technology in Europe, Middle East and Africa has been in a billion US dollars i.e., 2.8 billion US dollars as compare to the investment alone in US was 0.2 billion US dollars for the CCS technology.
In my opinion, as we compare the ratio of the availability of CCS in the USA and China, we can see a greater number of such facilities are available in the advance nations. The building of such facilities needs more amount of core resources and natural resources.
Source:- Global CCS Institute.