The major developed economies are investing in carbon sequestration to strengthen the climate change initiatives across the world.
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The major developed economies are investing in carbon sequestration to strengthen the climate change initiatives across the world. The US, Canada, the UK, Germany, Norway and Australia are the major countries investing in carbon sequestration projects. In addition, the significant funding provided by the European Commission (EC) has helped the technology to progress. The new US government’s climate change initiatives have revived several carbon sequestration projects. The European Union’s (EU) Emission Trading System (ETS) directive has also fortified carbon sequestration projects. Additionally, EC’s funding for various integrated carbon capture projects, specific technical research projects, and other kinds of projects drive activities in carbon capture and storage. Several other countries such as Canada and Australia have revised their policies in order to achieve carbon emission targets. As a consequence of these policy initiatives, industry participation in carbon sequestration activities has increased.
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