The CEO of Shell has criticised the UK government for failing to invest in carbon capture and said that the technology will be vital for reaching Paris climate targets.
Ben van Beurden, Shell’s CEO highlighted the importance of carbon capture, and said: “Without CCS there is no hope to meet the Paris commitments. It is not going to happen automatically. At some point people will wake up. CCS will come back and we have to be ready for it.”
He also highlighted his own company’s willingness to engage with the technology. He said: “We were involved in a CCS project in Scotland pulled at the 11th hour due to different priorities in the [UK government] Treasury.”
Mr van Beurden also said that as the costs of renewables have reduced through investment so would the cost of carbon capture.
The Scottish, Canadian and Indian governments have recently announced financial support for carbon capture technology. This follows statements from the IEA about the need for support for carbon capture.
It said: “We need to ramp up CCS in a really massive way, and time is ticking in order to be able to physically deploy CCS technologies in a way that can meet the requirements by 2030 and more importantly by 2060.”