RIYADH: Carbon capture technology can only do so much in reducing harmful emissions, the chairman of the global Energy Transitions Commission has warned as he emphasized the need for the greater use of electrification and hydrogen.
Speaking at the Future Investment Initiative in Riyadh on Oct. 26, Lord Adair Turner said that the world will witness a drastic rise in hydrogen demand from 100 million tons today to 800 million tons by 2050.
“Carbon capture technology has a vital but limited role in reducing emissions. We see the role of carbon capture. But the real heavy lifting will be done by electrification and hydrogen,” he said.
Turner further noted that the ongoing conflict in Ukraine has accelerated the energy transition process in Europe from conventional fossil fuels to renewables.
He added that Europe is burning more coal due to gas shortage ahead of winter, but made it clear that energy transition efforts are progressing steadily in the continent.
“Overall, what is happening in the world today makes me feel more confident that we will get significant emission reductions during the 2020s. Let us take solar. Last year, it was around 180 gigawatts installed around the world. Latest estimates for this year — 250 gigawatts. That is a revolution going on in solar,” added Turner.
He added: “In the UK, we have increased our offshore wind targets from 40 to 50 gigawatts. China will be crucial. China is burning more coal and that is unfortunate. But, China is also building renewables at an extraordinary pace, at 130 gigawatts a year. They have also a target set by Xi Jinping to reach 1,100 by 2030.”
Turner added that global emissions will be reduced significantly by 2030, at a much higher rate than his previous projection.