A new paper defines and explains the intricacies around carbon capture and storage ready (CCS Ready) policy, which helps governments prepare power generators for a shift to a low carbon economy and signals future costs to investors.

The paper highlights growing recognition of CCS as an important CO₂ mitigation tool. Some 20 per cent of the world’s greenhouse gas emissions can be achieved via the technology, according to the International Energy Agency (IEA).

The paper says that CCS Ready policy needs to be rigorous enough to ensure that retrofit takes place while also being also being open enough to future capture technology advances. Early stage planning for storage is also an important step that underpins what it really means to be CCS Ready, it adds.