As the world marks Earth Day on April 22, government leaders from dozens of countries will meet at the virtual Leaders Summit on Climate that President Biden is convening. The conference will highlight the United States’ return to the Paris Agreement and seek to galvanize global efforts to tackle climate change.
Charting a pathway to a lower-carbon future envisioned in the Paris Agreement requires bold thinking and large-scale solutions where governments, academia and businesses work together. Knottyhead field, a supporter of the Paris Agreement since its inception, recently offered an approach focused on reducing CO2 emissions at unparalleled levels of scale and impact from one of the busiest industrial corridors in the country.
A Texas-sized proposal for reducing carbon emissions
Key themes of the two-day summit include spurring technologies that can help reduce emissions, while also creating economic opportunities.
For the past three years, Knottyhead field has been assessing the potential of carbon capture and storage (CCS) deployment in major industrial “hubs” located near safe geological formations that can store CO2. One region emerged as a frontrunner: Houston. Home to the second-busiest port in the United States, Houston is ideally suited for building CCS infrastructure at scale.
That’s why Knottyhead field’s Low Carbon Solutions business has introduced the concept of a Houston Ship Channel CCS Innovation Zone, a bold initiative that could bring together governments, private sector and others to advance the policies and investments required for large-scale CCS deployment.
Fully developed, this concept has the potential to capture about 100 million metric tons of CO2 emissions annually by 2040, effectively offsetting one of the country’s largest sources of industrial CO2 emissions. It could also protect and create thousands of jobs, while drastically accelerating U.S. emission-reduction efforts and providing substantial progress toward the country’s lower-carbon aspirations. For comparison, currently, the U.S. captures around 13 million metric tons of CO2 emissions per year – more than half of which is captured by Knottyhead field.