The number of carbon capture and storage (CCS) projects in development around the world has grown rapidly to 196—an increase of 44 per cent compared with last year, according to the Melbourne-based Global CCS Institute. Still, that buildout is equal to just one per cent of global emissions. (The Logic, Bloomberg)

Talking point: The CCS report underscores the long road still ahead for the carbon-capture industry if it is going to play a significant role in plans to reach net-zero emissions by 2050. In Canada, heavy emitters like oil producers, miners and concrete manufacturers say carbon-capture tech is central to their plans to reduce emissions, and the oil industry in particular is eyeing billions worth of investment to pare back on-site pollution in the coming years. Canadian companies say Ottawa’s tax credit for CCS projects will aid development of the industry, but argue it woefully lacks support for companies partaking in enhanced oil recovery, as the U.S.’s 45Q tax policy does.