Many people want to help reduce CO2 emissions in their lives and businesses. But as a society how do we reduce carbon practically and responsibly, without endangering our economy or standard of living? The answer lies in multiple CO2 reduction pathways.
Carbon emissions are currently deeply embedded in our way of life. Eliminating those emissions is difficult. Scientific and systems analyses of how to meet the world’s climate targets consistently find that we need a multitude of approaches to reducing emissions.
Pathways Now Underway
There are thousands of CO2 reduction pathways currently being explored around the world, ranging from alternative fuels and renewable energy innovations to new building technologies, logistical optimization and policy reforms. Each will add value in its own way, in its own time. Here are a few of the pathways we feel have the potential to deliver strong results quickly, and where we’ve committed resources to at scale:
Energy Demand Reduction
Some of the greatest advancements in energy efficiency involve reducing or eliminating energy demand at the point of consumption. For businesses, this could include everything from rethinking processes to updating an operation’s equipment or facilities.
Conventionally, power generation has involved burning fossil fuels such as coal or natural gas—a carbon intensive process. But now renewable energy sources and new operating technologies are helping make power generation more carbon-friendly and sometimes even lower cost.
Alternative Clean Energy Sources
According to the U.S. Energy Information Administration, non-hydroelectric renewable energy sources such as solar and wind will be the fastest growing source of U.S. power generation for the next few years. Every major energy company acknowledges this trend.
Carbon Capture, Utilization and Storage (CCUS)
Using a variety of approaches and technologies, carbon can be captured to prevent it from going into the atmosphere. Then it can be stored safely and permanently underground or even used for enhanced oil recovery to lower the carbon footprint of conventional energy production.
CO2 Product Creation
Once removed from the energy cycle, carbon can also be used to make actual products. These could include tires, plastics, industrial feedstocks, carbon fiber and more.
Of course, these are just some of the strategies Oxy Low Carbon Ventures is exploring—and that’s the exciting part. Every organization’s potential pathways are different, and new advancements are bringing about additional opportunities each day.< Back