This paper documents the global potential for CCS. If CCS is widely deployed the global CO₂ emissions can be reduced by 236 billion tonnes by 2050. The calculations indicate that wide implementation of CCS can reduce CO₂ emissions by 54% in the EU and 33% globally in 2050 compared to emission levels today. Such a reduction in emissions is not sufficient to stabilize the climate. Therefore, the strategy to achieve the necessary CO₂ emissions reductions must be a combination of 1) increasing energy efficiency, 2) switching from fossil fuel to renewable energy sources, and 3) wide implementation of CCS.