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Carbon capture is not a solution for the energy transition and political leaders need to provide real, non-greenwashed, commitments to encourage investment, Andrew Forrest, executive chairman of Fortescue Metals, said on Tuesday.
“There’s a simple question from business leaders…when do we stop burning fossil fuels?” Forrest said at the Paris conference. Countries including the US have rolled out public subsidies for carbon capture and storage projects as part of their incentives to push the green energy transition. Oil demand growth is not set to peak until the end of this decade at the earliest and Forrest said carbon capture was not a viable solution.
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