Carbon Pricing to Play a Significant Role in Industrial Emissions

Published Date : Jun 14, 2016

Industrial emission control systems are extensively used to eliminate, collect, and convert harmful pollutants through various processes such as chemical reaction, catalytic combustion, absorption, oxidation, adsorption, and others. The selection of industrial emission control systems depends on the emission source and the type of pollutant. The most common sources of industrial emission are chemical process industries, manufacturing industries, and large-scale power plants. The growing concerns about the adverse effects of global warming on the environment and stringent government regulations to address these concerns are instrumental in driving the growth of the global industrial emission control systems market. The rapid industrialization across emerging economies and growing global trade has also supported the market’s growth. However, the usage of conventional technology in industrial emission control systems might restrain the growth of the market. The overall market has a significant potential to grow with the rise in population and growing power consumption across the emerging economies.

Is Carbon Pricing the Ideal Tool for Tackling Climate Change?

According to the BP’s Statistical Review of World Energy, the growth of the global carbon emissions stalled in 2015, partly due to the gradual shift to renewable energy and the passing of economic conditions, especially in countries such as China. To boost further efforts to tackle climate change, the idea of carbon pricing has been supported by political and environmental experts. Carbon price is an effective criterion in driving the amount of emissions. However, increasing the carbon price might not directly reduce the consumption and increase reliance on renewable sources of energy. It will be interesting to see that how carbon pricing will be regulated in future to reduce emissions.