The Changing Role of CO2 in the Transition to a Circular Economy: Review of Carbon Sequestration Projects
1
Informatics and Computer Technologies, Saint-Petersburg Mining University, Saint Petersburg 199106, Russia
2
Department of Organization and Management, Saint-Petersburg Mining University, Saint Petersburg 199106, Russia
3
Luzin Institute for Economic Studies—Subdivision of the Federal Research Centre, Kola Science Centre of the Russian Academy of Sciences, Apatity 184209, Russia
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(20), 5834; https://doi.org/10.3390/su11205834
Received: 16 September 2019 / Revised: 13 October 2019 / Accepted: 15 October 2019 / Published: 21 October 2019
(This article belongs to the Special Issue Waste Management and Application of the Principles of the Circular Economy)
Despite the diversity of studies on global warming and climate change mitigation technologies, research on the changing role of CO2 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 CO2 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 CO2 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 CO2 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) CO2 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 CO2, as well as the appearance of new CO2-based markets and industries.
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Keywords:
CO2 sequestration; CCS; CCUS; CCU; industrial waste; resource; circular economy
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MDPI and ACS Style
Tcvetkov, P.; Cherepovitsyn, A.; Fedoseev, S. The Changing Role of CO2 in the Transition to a Circular Economy: Review of Carbon Sequestration Projects. Sustainability 2019, 11, 5834. https://doi.org/10.3390/su11205834
AMA Style
Tcvetkov P, Cherepovitsyn A, Fedoseev S. The Changing Role of CO2 in the Transition to a Circular Economy: Review of Carbon Sequestration Projects. Sustainability. 2019; 11(20):5834. https://doi.org/10.3390/su11205834
Chicago/Turabian StyleTcvetkov, Pavel; Cherepovitsyn, Alexey; Fedoseev, Sergey. 2019. "The Changing Role of CO2 in the Transition to a Circular Economy: Review of Carbon Sequestration Projects" Sustainability 11, no. 20: 5834. https://doi.org/10.3390/su11205834
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