The Implementation of Carbon Capture Technology

In response to the growing imperative to reduce carbon dioxide emissions, some companies are investing in carbon capture and storage (CCS) technology as an efficient way to achieve their goals. One such example is Occidental Petroleum (NYSE:OXY), an American oil and gas producer, which has announced plans to acquire an air capture technology firm, Carbon Engineering Ltd.The deal has been made for $1.1 billion, with Occidental Petroleum (NYSE:OXY) planning on setting up around 100 DAC plants in the country to strip CO2 emissions from the air. The captured CO2 can be used to make products such as concrete and plastics, or it can be buried underground. Through this acquisition, Occidental Petroleum (NYSE:OXY) also hopes to decrease costs and boost its profitability. Another company that has shown confidence in carbon capture technology is Chevron Corp. (NYSE:CVX), a multinational energy company in the US.  The company has invested $318 million in Svante, a carbon capture technology corporation.Chevron Corp. (NYSE:CVX) has announced plans to invest $10 billion in lower-carbon projects through 2028. The company has set a target of reducing its carbon intensity by 50% by 2030. The company has repeatedly affirmed its commitment to the environment and is open to collaborating with others to expedite progress.Chevron Corp. is investing in renewable energy projects, such as solar and wind power, and carbon capture and storage technology. The company is also a member of the Climate Leadership Council, a group of businesses that are committed to reducing greenhouse gas emissions.Chevron Corp.'s investment in carbon capture technology is a major vote of confidence in the technology. It is a sign that major energy companies are taking climate change seriously and are investing in technologies to reduce their emissions.

Photo by Max Bender on Unsplash

Methodology

We compiled a list of the 25 countries that produce the most carbon dioxide emissions by evaluating CO2 emissions per country. Our ranking was based on three primary metrics: CO2 emissions per capita (metric tons), total carbon emissions, and CO2 emissions per GDP. We collected data on the relevant metrics from different websites. We got CO2 emissions (metric tons per capita) from The World Bank, total carbon emissions from World Economics, and CO2 emission per GDP from Climate Watch. CO2 emissions per capita is a metric that measures the amount of carbon dioxide (CO2) that a country or region emits into the atmosphere per person, expressed in metric tons. It provides an indication of the average environmental impact of each individual in terms of carbon emissions. Total carbon emissions are the cumulative amount of carbon dioxide (CO2) and other carbon compounds released into the atmosphere by human activities, such as burning fossil fuels, deforestation, and industrial processes. This metric is a key measure of a region or country's overall impact on climate change. CO2 emissions per GDP, also known as CO2 emission intensity, is a metric that measures the environmental efficiency of an economy. It is calculated by dividing the total CO2 emissions of a country by its GDP. A lower CO2 emissions per GDP indicates a more environmentally efficient economy, while a higher value suggests a greater level of environmental impact for each unit of economic output. We first scored each country on each index from 1 to 25, with 1 indicating the country with the most emissions and 25 indicating the country with the least emissions. We then assigned weights of 0.5 to CO2 emissions per capita, 0.3 to total carbon emissions, and 0.2 to CO2 emission per GDP. Finally, we calculated a composite weighted average of these scores to determine the countries that produce the most carbon dioxide emissions. After the final evaluation of the composite results, the countries were ranked from 1 to 25, with 1 indicating the country with the most carbon dioxide emissions and 25 indicating the country with the least emissions. Below is our complete list of 25 countries that produce the most carbon dioxide emissions.

Countries that Produce the most Carbon Dioxide Emissions

25. Singapore

CO2 Emissions (metric tons per capita): 7.7 Total Carbon Emissions: 32.5 Final Average Score: 21.7 A 2020 report from Macro Trends found that Singapore had a per capita carbon dioxide emission of 7.69 metric tons. In response, the country pledged to reduce its carbon dioxide emissions by 35% by 2030, compared to 2005 levels. This pledge is in line with the Paris Agreement, an international agreement to reduce greenhouse gas emissions.

24. Belgium

CO2 Emissions (metric tons per capita): 7.4 Total Carbon Emissions: 95.74 Final Average Score: 20.5 The crown prince of Denmark, Frederick, has launched a program called Project Greensand, through which the country will store carbon dioxide in the subsoil of the North Sea. This means that greenhouse emissions will be contained 1,800 meters under the ground and monitored closely. 

23. Netherlands

CO2 Emissions (metric tons per capita): 7.5 Total Carbon Emissions: 141.03 Final Average Score: 19.3 In 2019, the Netherlands recorded net carbon dioxide emissions of 200 million tons. This prompted the European Union to come up with a national energy and climate plan (NECP). The plan included a goal for the Netherlands to sustainably manage its agricultural soils by 2030 and explore the process of carbon storage. Consequently, in 2023, the Dutch courts granted approval for a huge carbon project, which will help reduce the Netherlands’ greenhouse gas emissions by around 2% in 15 years. 

22. Poland

CO2 Emissions (metric tons per capita): 7.4 Total Carbon Emissions: 328.59 Final Average Score: 18 In 2021, the Climate Action Progress Report of Poland recorded a surge of 2.7% in greenhouse gas emissions as compared to the levels recorded in 2019. The energy sector was the highest contributor to these emissions with a figure of 43%, followed by the transport sector at 19% and the buildings sector at 16%. 

21. Luxembourg

CO2 Emissions (metric tons per capita): 12.5 Total Carbon Emissions: 8.35 Final Average Score: 17.5 Given that Luxembourg is a transit country, a majority of its carbon dioxide emissions are a result of the burning of fuels. Moreover, the country depends on energy imports of oil and natural gas. The latter is then used to generate electricity, which leads to an increase in CO2 emissions. 

20. Palau

CO2 Emissions (metric tons per capita): 8.8 Total Carbon Emissions: -  Final Average Score: 16.7 Palau is on the list of 25 countries that produce the most carbon dioxide emissions for its substantially high release of greenhouse gas. Since the country is a popular tourist destination, it uses a significant amount of fossil fuels. Furthermore, Palau imports the majority of its food from abroad, which leads to an increase in the burning of fuels. 

19. Czech Republic

CO2 Emissions (metric tons per capita): 8.3 Total Carbon Emissions: 97.3 Final Average Score: 16.7 A report from the European Commission in 2023 analyzed that the Czech Republic is making progress toward UN Sustainable Development Goals (SDGs). However, it indicated that the country has shown an increasing trend in carbon emissions, as opposed to the overall patterns of emissions in the EU.   

18. Turkmenistan

CO2 Emissions (metric tons per capita): 10.2 Total Carbon Emissions: 82.99 Final Average Score: 16.12 The Asian Development Bank published an outlook on Turkmenistan in 2023, which outlined that the country is hoping to achieve carbon neutrality by 2050. Consequently, it is aiming to minimize emissions, especially to prevent the devastating effects of climate change. These include water scarcity, droughts, and heat waves. 

17. Malaysia

CO2 Emissions (metric tons per capita): 7.4 Total Carbon Emissions: 256.04 Final Average Score: 16.1 The United Nations Development Program published a report to reveal that Malaysia aims to reduce its greenhouse gas emissions by 45% by the year 2030. As of 2019, the country’s CO2 emissions stood at 313.02 million tons and are projected to go as high as 508.7 million tons by the end of 2023. 

16. Trinidad and Tobago

CO2 Emissions (metric tons per capita): 10.2 Total Carbon Emissions: 36.13 Final Average Score: 16.1 Trinidad and Tobago registers substantially high levels of CO2 emissions on a per capita and per GDP basis. This is mainly due to the country housing a small population and an inefficient use of carbon. Overall, however, a study by the University of Trinidad and Tobago in 2023 revealed that the country generates only 1% of the overall global carbon dioxide emissions. 

15. Japan

CO2 Emissions (metric tons per capita): 8 Total Carbon Emissions: 1067.4 Final Average Score: 14.7 The EGUsphere Repository in Japan revealed that in 2023, urban areas in the country produced 40% of the overall carbon dioxide emissions. Various sources were cited for the emissions, such as residential facilities, automobile traffic, and thermal power plants. 

14. China

CO2 Emissions (metric tons per capita): 7.8 Total Carbon Emissions: 11472.39 Final Average Score: 12.3 The people of China are heavily reliant on coal for construction-related activities, as well as the transport sector. Moreover, the energy consumption in the country is relatively high on account of its large population. Consequently, China is on the list of countries with the most carbon dioxide emissions. 

13. South Korea

CO2 Emissions (metric tons per capita): 11 Total Carbon Emissions: 616.06 Final Average Score: 12.2 South Korea has recorded an increase in population and industrialization in the last couple of years, which has led to the production of different greenhouse gases and numerous pollutants. Consequently, these factors have contributed to climate change and increased CO2 emissions in the country. 

12. Canada

CO2 Emissions (metric tons per capita): 13.6 Total Carbon Emissions: 545.64 Final Average Score: 9.6 In a report titled Global Greenhouse Gas Emissions, the relevant authorities of the government revealed that CO2 emissions in 2020 reached 678 million tons, which were 1.5% of global greenhouse gas emissions. However, the country has recorded a 17.2% decrease in per capita emissions since 2005. 

11. Brunei

CO2 Emissions (metric tons per capita): 21.7 Total Carbon Emissions: 10.48 Final Average Score: 9.6 In 2021, the government of Brunei claimed that it would cut down on carbon emissions by 20% in the next decade. Consequently, it announced the introduction of mandated carbon reporting, which would come with a carbon pricing scheme specifically for the energy sector in the country.    Click to continue reading and see 10 Countries that Produce the most Carbon Dioxide Emissions.   Suggested Articles: 

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Disclosure. None. 25 Countries that Produce the most Carbon Dioxide Emissions is originally published on Insider Monkey.