DNV’s latest Energy Transition Outlook forecasts that global energy-related CO₂ emissions will fall 43% by 2050, but net zero will not be reached until after 2090, with warming expected to reach 2.2°C by 2100. The share of fossil fuels in the global energy mix is projected to fall from around 80% today to 50% by 2050, driven largely by electrification and expansion of renewable capacity.
Carbon capture and storage (CCS) and net-negative technologies are expected to remove a cumulative 35 Gt of CO₂ by 2060, representing around 4% of total emissions over that period. While their combined capacity is forecast to quadruple by 2030, deployment remains concentrated in natural gas processing and regional hubs in North America and Europe. Hard-to-abate sectors such as cement, steel and chemicals are expected to drive uptake from the 2030s.
RMRI observes that, while CCS is gaining traction, the timing and scale of CO₂ storage delivery remains critical. Without early permitting and commercial certainty, capture and transport commitments are unlikely to proceed with confidence, making storage the decisive enabler for full scale implementation.