Japanese shipping major Nippon Yusen Kabushiki Kaisha (NYK) has joined the Global CCS Institute, an international think-tank established to promote the use of carbon capture and storage (CCS) technologies worldwide.
CCS is a technology to capture CO2 at the source — such as power plants, chemical plants, and the like — by separating CO2 from other gases, compressing the CO2 for transportation, and then injecting the CO2 deep into underground or undersea rock formation at a carefully selected and safe site, where the CO2 is permanently stored.
CCS technology is being used around the world in different ways and is already cutting greenhouse gas (GHG) emissions.
By joining the Global CCS Institute, NYK said it will be able to closely monitor the development and expansion of CCS and will aim to contribute to the realization of a decarbonized society by participating in CCS projects in the areas of offshore transportation of compressed liquefied CO2 and the injection of CO2 from offshore facilities into undersea rocks.
In late May, the Global CCS Institute revealed that its membership reached 100 organisations including governments, businesses, technology and service providers as well as research institutions. This milestone caps off 24 months of robust growth in which membership has increased 69% from 59 to 100, according to the institute.