'Code Red' alert for the climate may put carbon capture in the money

With carbon prices set to reach €100 as soon as the middle of this decade, capture technology is going mainstream as governments push to reach net zero.

Smoke and powder dust pollution from steel mills in China.

Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried.

The market for these tools could reach $2 trillion (€1.7trn) if used to cut pollution from heavy industry, according to Credit Suisse.