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Putting CO2 to Use: Creating Value from Emissions Findings and recommendations Findings and recommendations Policy recommendations • Ensure policy and investment decisions for CO2 use applications are informed by robust life- cycle analysis that provides improved understanding and quantification of climate benefits. • Identify and enable early market opportunities for CO2 use that are scalable, commercially- feasible and can deliver emissions reductions. The use of CO2 in building materials is one such opportunity. • Introduce public procurement guidelines for low-carbon products. This can create an early market for CO2-derived products with verifiable CO2 emissions reductions, and promote innovation and investment. • Establish performance-based standards for products such as building materials, fuels and chemicals to facilitate the uptake of CO2-derived alternatives. • Support research, development and demonstration for future applications of CO2 use that could play a role in a net-zero CO2 emission economy, including as a carbon source for aviation fuels and chemicals. Millions of tonnes of CO2 are being used today While most of the focus on CO2 is on its contribution to climate change, it can also be a commercial input to a range of products and services. Today, around 230 million tonnes (Mt) of CO2 are used each year (IHS Markit, 2018). The largest consumer is the fertiliser industry, where around 130 MtCO2 per year is used in urea manufacturing, followed by the oil sector, with a consumption of 70 to 80 MtCO2 for enhanced oil recovery (EOR) (IEA, 2019a). CO2 is also widely used in food and beverage production, the fabrication of metal, cooling, fire suppression and in greenhouses to stimulate plant growth. More than two-thirds of current global demand for CO2 comes from North America (33%), the People’s Republic of China (“China”) (21%) and Europe (16%), with the demand for existing uses expected to grow steadily year-on-year (Figure 1). This analysis does not consider these mature CO2 use pathways, including EOR, but focuses on its emerging and novel applications. PAGE | 5 IEA. All rights reserved.PDF Image | Putting CO2 to Use Creating value from emissions
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