Global investment in carbon capture and storage (CCS) is expected to reach $80 billion by 2030, as governments and businesses focus on meeting climate goals and decarbonising heavy industries, according to Carbon Credits.

CCS captures carbon dioxide from industrial and energy-related sources before it reaches the atmosphere and stores it underground in geological formations.

The sector is particularly effective in sectors like cement, steel, and fossil fuel plants, which are difficult to decarbonise with renewable energy alone. The global CCS capacity is expected to grow four times by 2030, representing 270 million tons of CO2 captured annually.

North America and Europe are expected to lead the expansion, with the Inflation Reduction Act driving CCS growth.

The European Union supports CCS through its Innovation Fund, with countries like Norway and the Netherlands building cross-border carbon storage networks in the North Sea.

As global capacity grows and costs drop, CCS will likely be key to climate strategies, including energy efficiency, clean fuels, and electrification.