Climate Change
Carbon Dioxide (CO2) is a naturally occurring atmospheric gas, however the amount of CO2 in the atmosphere is now 50% higher than its pre-industrial revolution levels due to the burning of fossil fuels (coal, oil and gas). As a greenhouse gas, this is driving an increase in global temperatures unprecedented in recent geological history. There is now a growing consensus across the world that strong early action is required to mitigate the worst risks associated with the consequences of climate change.
In 2005 global CO2 emissions were around 25 billion tonnes per year. This is expected to increase by 0.5 billion tonnes every year with business as usual. Without a major reduction in emissions it is likely that significant parts of the earth will become incapable of supporting the life it currently holds within our lifetime and certainly within the lifetime of the next generation.
In 2006 Stern reported “that ignoring climate change will eventually damage economic growth.” Put simply, the world must wean itself away from the addiction to cheap fossil fuel based energy supplies and put less CO2 into the atmosphere whilst the developing world is passing through its own industrial revolution.
Energy efficiency and renewable energy have a role to play in
meeting this challenge. However, even together with nuclear
energy, capacity cannot be brought online fast enough to make
the difference that is needed.The best proven technology available to combat rising emissions is Carbon Capture and Storage. This is proven and already in use at pilot sites. It simply requires to be scaled up and deployed on an industrial basis.
Carbon Capture and Storage will provide the critical technology bridge, across which the world can pass from the current high carbon economy to a sustainable low carbon economy in the future.