Carbon dioxide emissions are a significant contributor to climate change. That's leading the world to find ways to reduce emissions in hopes of preventing the worst impacts of climate change. While much of the focus has been on the shift toward cleaner energy sources like renewables, emission reduction initiatives will likely play a crucial role in addressing the problem.

Carbon capture and storage (CCS) could become an important piece of the puzzle. Many energy companies believe the technology represents a $3 trillion to $5 trillion future market opportunity. Because of that, several industry players are racing to become early leaders in the space.

ExxonMobil (NYSE: XOM), EnLink Midstream (NYSE: ENLC), and Occidental Petroleum (NYSE: OXY) are emerging as early leaders in the carbon capture sector. Here's a look at their strategies for capturing this potentially multitrillion-dollar market opportunity.

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Source Fool.com