Carbon capture and storage in the light of circulation economics

Purpose – The paper's purpose is to highlight conflicting interests between combating climate change and the technique of carbon capture and storage (CCS) within the Norwegian petroleum industry. Design/methodology/approach – This paper is written in a conceptual form. The theoretical starting point is that strong sustainable development is necessary to combat climate change. The practical example is state‐of‐the‐art of CCS, and whether this contributes to combat climate change or not. Findings – This paper finds using circulation economics adds essential environmental preconditions to the technique of CCS. First, the global environmental gain must not be outnumbered through an increase in production volume. Second, if the technique does not contribute to strong sustainable development then the producers must instead limit the extraction of petroleum. Research limitations/implications – The figures in this paper build upon the current knowledge within this research area. Extensive research is taking place, and may change the figures. The findings and conclusions of this paper will not be affected though by changes in figures. Practical implications – The findings of this paper show that it is necessary to use a holistic and global theoretical approach in choosing tools to combat climate change. Originality/value – The paper uses a relatively new economic theoretical approach to highlight environmental aspects regarding a technique of capturing carbon, which is currently being developed to combat climate change.