Carbon capture, utlization, and storage supply chain risk management framework development

Abstract

Technology called Carbon Capture, Utilization, and Storage (CCUS) is important for capturing CO2 emissions before they get into the air. Because everyone wants to stop global warming by reducing CO2 emissions, CCUS is an important and emerging technology that can help slow down climate change, lower emissions in many areas, and support the move to a sustainable and carbon-neutral future. As CCUS technology and its adaptation increases, it is very important to pay attention to the CCUS risks from the supply chain (SC) point of view. The ultimate goal of this study is to is to identify CCUS supply chain risks and develop a framework that provides a structured approach to ensure safe and reliable CCUS supply chain. This study develops a complete CCUS SC risk management framework including CCUS SC functions, risks and risk management strategies. Therefore, this study analyzes the literature related to SC of different sectors and identifies the SC risks which is the foundation for CCUS SC risks identification. This study depicts that there is no research article that provides a comprehensive CCUS SC risks as well as risk management framework that connects with risk management strategies. Moreover, the framework provides a guideline for future research which enrich the CCUS supply chain risk management system as well as fight against the climate change. This study has deployed Delphi technique to validate the risks that have been identified from the literature. In addition, principal component analysis (PCA) has been used to identify the communalities of the risks related to the CCUS SC functions. At the same time, 44 risk management strategies have been developed from the supply chain risk management literature in relation with the CCUS SC risks. Finally, the risk management framework has been developed in CCUS SC context which is the main objective of this study. This is the first risk management framework in CCUS SC context which connects the CCUS SC functions, risks, and strategies. This framework provides a comprehensive guideline for the management to develop sustainable roadmaps in CCUS SC management systems. Moreover, this framework helps to prevent the environment and promotes further research in CCUS risk management systems. Keywords: Carbon Capture, Utilization, and Storage (CCUS); Supply Chain (SC); Supply Chain Risk; Risk Management (RM); Principal Component Analysis (PCA), Risk Management Strategies.