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Putting CO2 to Use: Creating Value from Emissions Technical analysis What has spurred renewed interest in CO2 use? In recent years, governments and industry have shown renewed interest in CO2 use for a number of reasons. Climate change mitigation has been by far the most important driver. The 2015 Paris Agreement provides a framework for stronger climate action to limit the increase in global average temperatures to ”well below” 2 °C above pre-industrial levels. CO2 use has potential to play a role in reducing emissions as part of a broad portfolio of CO2 mitigation options and can be a complement to CCS (see Box 2). Other drivers for CO2 use are indirectly related to climate change mitigation. CO2 is one of few alternatives to fossil fuel as a source of carbon. Even in a zero-emission economy, carbon will still be required in several applications. For example, organic chemicals cannot be decarbonised, as the carbon is inherent in providing its structure and properties. In other applications, such as aviation, carbon-containing fuels will continue to play an important role, because the use of carbon-free energy carriers, such as electricity or hydrogen, is extremely challenging. In addition to being a source of carbon, CO2 use allows for the utilisation of renewable electricity in other sectors of the economy, such as transport and industry, thus facilitating the energy transition. In theory, CO2 could be used infinitely if recaptured from the atmosphere (or biogenic source) after its release to the atmosphere at the end of the product’s life cycle. As such, CO2 use has the potential to become part of a circular carbon economy, in which the maximum value of resources is used before disposing them in the environment. Finally, the pursuit of new uses of CO2 provides opportunities for industrial innovation and technology leadership. Industry has become increasingly interested in using CO2 to manufacture low-carbon products, as it holds the promise of generating economic revenues in addition to their value in mitigating climate change. The key commercial drivers for emerging CO2 use applications include: • Converting hydrogen into a fuel that is as easy to handle and use as gaseous or liquid fossil fuels, but with lower overall CO2 emissions. • Integrating the carbon of CO2 into carbon-containing chemical products with lower overall CO2 emissions than their fossil equivalents. • Producing cement and concrete with higher performance and lower overall CO2 emissions than conventional building materials. • Stabilising waste products as a feedstock for higher-value building materials, while reducing waste disposal costs. • Enhancing the yield of biological processes for improved crop output. PAGE | 23 IEA. All rights reserved.PDF Image | Putting CO2 to Use Creating value from emissions
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