India Seeks $4.3 Billion Government Boost to Drive Carbon Capture Technology Adoption – EQ
In Short : India needs $4.3 billion in government support to adopt Carbon Capture, Utilization, and Storage (CCUS) technologies, crucial for achieving its 2070 net-zero goal. CCUS can decarbonize hard-to-abate sectors like cement, steel, and power. Funding will drive innovation, infrastructure, and policy frameworks, enabling India to cut emissions while balancing economic growth and energy security in its climate transition.
In Detail : India is estimated to require approximately $4.3 billion in government support to facilitate the adoption of Carbon Capture, Utilization, and Storage (CCUS) technologies. This investment is critical for the country to meet its long-term climate goals, including its commitment to achieving net-zero emissions by 2070. CCUS is seen as a vital tool to decarbonize industries that are difficult to transition to renewable energy, such as cement, steel, and chemicals.
The funding would help develop the necessary infrastructure and technology to capture carbon dioxide (CO₂) emissions from industrial processes and power plants. Once captured, the CO₂ can be either stored underground or utilized in industrial applications, such as enhanced oil recovery or the production of synthetic fuels. This dual approach not only reduces emissions but also creates economic opportunities by turning waste into valuable resources.
India’s reliance on coal for energy and industrial processes makes CCUS particularly important. While the country is aggressively expanding its renewable energy capacity, coal is expected to remain a significant part of the energy mix in the near term. CCUS can help mitigate the environmental impact of coal-based power generation, providing a bridge to a cleaner energy future.
The $4.3 billion in government support would likely be used to fund research and development, pilot projects, and large-scale deployment of CCUS technologies. It would also help create a regulatory framework and incentivize private sector participation. Public-private partnerships could play a key role in scaling up CCUS infrastructure and making it commercially viable.
Adopting CCUS would also align India with global climate efforts and enhance its position in international climate negotiations. By investing in this technology, India can demonstrate its commitment to reducing emissions while balancing economic growth and energy security. This is particularly important as the country seeks to maintain its development trajectory while addressing the challenges of climate change.
However, challenges remain, including high costs, technological barriers, and the need for robust policy support. The $4.3 billion investment would be a significant step toward overcoming these hurdles and positioning India as a leader in climate innovation. With the right support, CCUS could become a cornerstone of India’s strategy to achieve sustainable development and climate resilience.
