REQUIRING fossil fuel companies to pay to clean up their carbon emissions could help curb dangerous global warming at a relatively affordable cost, a study revealed today.

The approach, which holds producers responsible for the waste generated by the products they sell, already exists in other areas such as plastic packaging or electrical goods.

Applying it to energy would mean that the emissions from all fossil fuels extracted or imported into a region, country or bloc would be offset by storing the same amount of carbon back underground.

Fossil fuel companies would have to invest in technology that captures carbon dioxide when fuels are burned and then stores it underground, known as carbon capture and storage or directly capturing it from the air for storage, which is called direct air capture.

The authors warn that analysis shows without dramatic reductions in global demand for energy this decade — which is not happening — storing carbon emissions underground will be needed to meet targets to keep temperature rises to 1.5°C to avoid the worst impacts of climate change.

Study author Stuart Jenkins said that the world had to dramatically scale up geological carbon storage.

The approach, which the study describes as a “carbon take back obligation,” would help overcome having to choose between energy security, affordability and environmental sustainability.

“Unfortunately when governments are forced to choose they often forgo that latter obligation,” he said.

“A carbon take back obligation provides a simple and predictable regulation ensuring the fossil fuel industry cleans up after its activities and products without government subsidies.”

He said that the policy was a “backstop” to other policies to reduce demand for fossil fuels, such as scaling up renewables, and should not be used as an excuse for continued production.