Recent Advances in CCS, CCU and CarbonTech: Feasible Solutions for Achieving Net Zero?

The paper discusses the role of Carbon Capture and Storage (CCS) and Carbon Capture and Utilization (CCU) in achieving a net-zero economy by 2050. It examines technological advancements in capturing and utilizing CO₂, including direct air capture and embedding CO₂ in concrete. With a focus on hard-to-decarbonize industries such as cement and steel, CCS and CCU are presented as fallback solutions where electrification through renewables is insufficient. The literature review highlights economic, policy, and societal factors impacting scalability. The paper assesses the role of carbon pricing, licensing and corporate partnerships in ensuring implementation. Key corporate solution providers in a nascent industry called CarbonTech such as Carbon Engineering and Climeworks are driving progress alongside corporate collaborations with large cap companies such as Microsoft and Shopify. Despite cost and scalability challenges, these technologies represent opportunities for reducing emissions while generating market value through CCU products