Carbon Removal Ratings and their Potential in Saudi Arabia
As the global focus on mitigating climate change intensifies, carbon dioxide removal (CDR) technologies have emerged as critical tools in reducing atmospheric carbon levels. In Saudi Arabia, recent studies have identified direct air capture (DAC) and energy from waste with carbon capture and storage (EfW BECCS) as two leading future CDR methods. These technologies are poised to play a pivotal role in the Kingdom’s transition to a low-carbon economy. However, the success of deployment of such technologies will depend on selecting the most promising and lowest-risk projects. To achieve this, robust carbon ratings methodologies are needed to assess project-level risk. Carbon ratings can enable clear, cost-effective comparisons of projects, which maintain a focus on minimizing costs, maximizing carbon capture capacity, and reducing leakage risks. Moreover, the use of carbon ratings will be essential to de-risk future projects, effectively allocate capital, and scale up deployment.
18th December 2024