U.S. supermajor ExxonMobil has announced its vision for a massive $100 billion carbon capture and storage (CCS) project which it believes will be critical to meeting Paris Agreement emission-reducing goals.

Joe Blommaert, head of ExxonMobil’s Low Carbon Solutions division, said in a blog earlier this week that CCS could enable the United States to safely capture and store hundreds of millions of metric tons of carbon dioxide (CO2) each year that otherwise would be released into the atmosphere.

According to him, that is one of the few proven technologies with the potential to significantly lower emissions from certain hard-to-decarbonise sectors, such as manufacturing and heavy industry.

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