McKinsey has worked with leading institutions over the last 3 years to develop an understanding of the costs and potential of the options for reducing greenhouse gas emissions at both a global and regional level. This report takes a deeper look at one of these options, CO2 capture and storage (CCS). This report does not attempt to be comprehensive - for example the focus is on Europe, and the detailed cost reference cases are based on new build coal power applications. It is an attempt, in an objective and clear way, to provide basic facts and transparency regarding current costs and possible future development of CCS. It also explains key issues affecting the longer-term deployment of CCS and finally the barriers that currently exist to this deployment.