Governments and major energy companies have committed billions of dollars to carbon capture and storage (CCS) projects as a way to reduce emissions from hard-to-abate industries. However, many CCS projects have failed to achieve their expected capture rates, while costs remain significantly higher than initially forecast.
CCS technology gained popularity during the COVID-19 pandemic as several governments and private companies pledged to support a green transition. However, in recent years, skepticism about the effectiveness of CCS technologies has grown.
In 2025, the World Economic Forum predicted that the CCS industry would grow fourfold by the end of the decade. However, many companies have failed to see the expected results.
Moreover, environmentalists argue that CCS is simply another form of greenwashing, and that funding for the technology could be better spent exploring alternative, clean energy options.
