The United Nations’ climate talks kick off today in Durban, with negotiating parties facing a complex and long agenda of “must resolve” issues, including a decision about what role carbon capture and storage (CCS) can play in reducing the world’s greenhouse gas emissions.
The Intergovernmental Panel on Climate Change has long indicated that capping global average temperature below 2°C above pre-industrial levels requires dramatic cuts in emissions, particularly in developed countries where emissions are rising fastest.
“As we know from the International Energy Agency estimates, CCS can delivery about a fifth of required emission cuts by 2050,” said Global CCS Institute CEO Brad Page. “The IEA also tells us that without CCS, abatement costs in the electricity sector could be higher by more than 70 per cent.”
“This emphasizes the need for CCS to be recognised by the UN climate talks as essential and that it is made eligible under the various UNFCCC financing mechanisms.”
Last year’s talks in Mexico concluded with a discussion around the possible acceptance of CCS as an offsetting activity under the Clean Development Mechanism (CDM). During the course of this year, expert workshops have been held to work out CCS modalities and procedures that pave the way for the acceptance of the technology under the CDM.
“The release of these modalities and procedures gives some hope for optimism that we may see further steps taken this year to include CCS in the CDM,” said Page. “It also paves the way for developing countries being able to access finance for developing CCS projects, which at the moment is a challenge.”
Some 3,400 CCS projects need to be up and running by 2050, many of them in the developing world. Until now the vast majority of projects have been in Europe, North America and Australia.
The Institute will be hosting a number of activities in Durban during the climate talks. More information is available at http://www.globalccsinstitute.com/campaign/2011/11/durban-climate-change-conference-november-2011
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About the Global CCS Institute
The Global CCS Institute works with organisations and governments to accelerate the broad deployment of commercial CCS and ensure that the technology plays a role in responding to the world’s need for a low carbon energy future.
The Institute plays a key role in knowledge sharing across demonstration projects and is working on enabling the regulatory and policy as well as commercial and financial conditions for CCS to be deployed commercially around the world.
Headquartered in Canberra, Australia, the Institute also has offices and representatives in Europe, North America and Japan. It has more than 320 Members.
More information is available at www.globalccsinstitute.com.
