To address these challenges, carbon management must focus on the following two aspects:
New Investments: Considering carbon costs in investments and selecting green technologies.
Impact on Existing Products: Evaluating the economic implications of projects and products while considering carbon management costs.
Methods for Reducing, Capturing, and Storing Carbon:
Renewable Energy Sources: Replacing fossil fuels with solar and wind energy.
Digital Solutions: Utilizing artificial intelligence and the Internet of Things (IoT) for monitoring and optimizing processes.
Energy Efficiency: Optimizing processes and equipment to reduce energy consumption.
Fuel Substitution: Using lower-carbon fuels such as natural gas and hydrogen.
Carbon Capture and Storage (CCS) Technologies: Reducing emissions through capture and storage of CO2.