The Potential of Incentivized Carbon Capture: A Literature Review

Abstract

The current debate over reducing anthropomorphic activity has not succeeded in reducing the global carbon footprint, which speeds toward what climate scientists called the irreversible “tipping point.” To combat global warming, climate change, and catastrophic environmental damage, technologies can be developed to combat the refusal to reduce industry. The emerging tested technology of carbon capture, utilization, and storage (CCUS) allows for companies to not only offset greenhouse gas emissions with one another but to actually reduce the amount of carbon dioxide that persists in the atmosphere. Although current scale is inadequate to balance the carbon output, the technology is ready for companies to launch and invest, if only incentivization is made available as well. Because CCUS has the potential to contribute to slowing down or even lowering the global temperature increase, its challenges and opportunities should continue to be explored and discussed to find an optimal way to deal with climate change. This paper suggests that the cooperation of governments, companies, and supranational organizations could result in meaningful impact to lower the global carbon footprint and fight climate change.