The Changing Role of CO 2 in the Transition to a Circular Economy: Review of Carbon Sequestration Projects

Pavel Tcvetkov, Alexey Cherepovitsyn and Sergey Fedoseev
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Pavel Tcvetkov: Informatics and Computer Technologies, Saint-Petersburg Mining University, Saint Petersburg 199106, Russia
Alexey Cherepovitsyn: Department of Organization and Management, Saint-Petersburg Mining University, Saint Petersburg 199106, Russia
Sergey Fedoseev: Luzin Institute for Economic Studies—Subdivision of the Federal Research Centre, Kola Science Centre of the Russian Academy of Sciences, Apatity 184209, Russia

Sustainability, 2019, vol. 11, issue 20, 1-19

Abstract: Despite the diversity of studies on global warming and climate change mitigation technologies, research on the changing role of CO 2 in the industrial processes, which is connected with the introduction of circular economy principles, is still out of scope. The purpose of this review is to answer the following question: Is technogenic CO 2 still an industrial waste or has it become a valuable resource? For this purpose, statistical information from the National Energy Technology Library and the Global CCS Institute databases were reviewed. All sequestration projects (199) were divided into three groups: carbon capture and storage (65); carbon capture, utilization, and storage (100); and carbon capture and utilization (34). It was found that: (1) total annual CO 2 consumption of such projects was 50.1 Mtpa in 2018, with a possible increase to 326.7 Mtpa in the coming decade; (2) total amount of CO 2 sequestered in such projects could be 2209 Mt in 2028; (3) the risk of such projects being cancelled or postponed is around 31.8%; (4) CO 2 is a valuable and sought-after resource for various industries. It was concluded that further development of carbon capture and utilization technologies will invariably lead to a change in attitudes towards CO 2 , as well as the appearance of new CO 2 -based markets and industries.

Keywords: CO 2 sequestration; CCS; CCUS; CCU; industrial waste; resource; circular economy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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