Underperforming carbon capture projects considerably outnumber successful projects globally, finds a new report by the Institute for Energy Economics and Financial Analysis.

Lack of consultation about recent changes to Australia’s Emissions Reduction Fund and an uncertain policy environment could spook investors in CCS, a non profit has said.

Saudi Aramco says it hopes to achieve net zero SCOPE-1 and SCOPE-2 greenhouse gas emissions across its fully owned operations by 2050, but warns that achieving this in less than three decades will not be easy.