A recent study published by Elsevier introduces a novel, integrated methodology for evaluating the environmental, economic, and social impacts of Carbon Capture and Utilisation (CCU) technologies. With the urgent need for sustainable and economically viable CCU solutions to support the 2030 climate goals, this study offers a comprehensive assessment tool—the Life Cycle Cost and Sustainability Assessment (LCC-SA).
Study Highlights:
🔵 Innovative Methodology: LCC-SA enables simultaneous evaluation of life-cycle costs, environmental benefits, and social impacts of CCU projects.
🔵 Application to Algal Photobioreactors (PBRs): The tool was tested on algal PBRs, which capture CO₂ and convert it into organic carbon to produce non-fossil fuel, but it could be used in a large variety of applications.
🔵 Impact: The authors show that LCC-SA represents a robust, flexible methodology that can be used for the comprehensive evaluation of different research and development projects and innovative technologies. It can be a valuable support for a large variety of stakeholders such as companies, investors, policy and decision-makers, and researchers.
Socio-Economic Benefits:
🔵 New knowledge spillovers, human capital growth, and patent development add substantial value beyond financial metrics, underscoring the extra-financial benefits of CCU innovation.
This study offers a valuable reference for future CCU projects aiming to balance technical and economic viability.
Read more here.
