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Biotic and abiotic carbon sequestration currently seems to be the only viable tools
at the disposal of mankind for mitigating greenhouse gas (GHG) emissions and thus a remedy
for tackling global warming challenges. This study accesses the global carbon capture and
storage (CCS) programme: the level of success in its implementation and its impact using panel data from eight countries, the majority of which have begun one or more operational
CCS facilities. To achieve this objective, fifteen years period time series data was sourced
for the eight selected countries based on data availability, namely the United States (US), the
United Kingdom (UK), Canada, China, Australia, Norway, South Africa, and Nigeria;
ranging from 1990 to 2015. The panel ARDL results show that the explanatory variables,
global industrial production (LIP), Electricity production (LEP), Agricultural production
(LAP), transportation (LTR), and energy supply (LES) have a long-run relationship with the
dependent variable (LGHG emissions). While the short-run results show that none of the
variables have a significant contribution to LGHG emissions. In the long-run results, LIP and
LTR significantly contribute to the reduction of LGHG courtesy of the CCS programme
while LEP, LAP, and LES contribute to a rise in the LGHG emission. The cross-sectional
results show that all the variables have significant impacts on LGHG in all the sampled
countries except Australia. Suggesting that, the CCS programme is viable for mitigating
global warming and climate change and therefore should be considered by the various
countries of the world.
