The world’s population is expected to exceed nine billion by 2050. With this growth there will be an increasing demand for energy.
As it stands, fossil fuels provide more than 85 per cent of the world’s energy. And despite significant global efforts to shift to renewable energy generation, renewable sources only accounted for 2 per cent of the global energy supply in 2014.
It is therefore logical and reasonable to believe that fossil fuels will remain an indispensable part of the world’s energy landscape until at least the end of this century.
At COP21, representatives from over 190 countries will try to reach an agreement to limit global warming to the two degrees target, and this will involve stabilising atmospheric CO2 concentrations at a level of 450 parts per million (ppm).
So what does this mean? For fossil fuels, it means we need to decarbonise electricity production; and carbon capture and storage (CCS) is a readily deployable technology solution to do this.