MUFG Bank joins think tank for CO2 and storage capture tech

CCS is expected to play a role in reducing CO2 emissions in the world.

MUFG Bank has joined the international think tank Global CCS Institute (GCCSI), which aims to promote the use of carbon dioxide capture and storage (CCS) technology.

CCS is a suite of technologies that capture carbon dioxide (CO2) emitted from power plants, oil fields, gas fields, factories, and inject and store it deep underground, preventing its release into the atmosphere, according to MUFG. The technology is expected to play an important role in CO2 emissions reduction towards the realization of a carbon-neutral society.

GCCSI is an international organisation established by the Australian government in 2009 to promote the use of CCS technology. It now has over 120 organisations around the world, from sectors including government, industry and research, that have joined the GCCSI membership.