Institute submission on Australian Infrastructure Investment Bank (AIIB) Energy Sector Strategy

Organisation: Global CCS Institute

On 6 March the Institute lodged a submission to the Asian Infrastructure Investment Bank (AIIB) regarding its Energy Sector Strategy. The AIIB is a multilateral development bank which commenced operations in January 2016, with the aim of meeting the significant financing needs for infrastructure and economic development across Asia. Its Energy Strategy will be vitally important in guiding the investments of the AIIB and its financing partners across the full suite of technologies that will deliver sustainable, clean energy in the Asia region. As the Institute’s submission points out, the need for CCS in developing countries is significant, owing to a likely continued dependence on fossil fuels as a pathway to economic development, combined with energy demand that is growing at a far greater pace than in developed countries. The Institute’s submission highlights prospects for CCS in several Asian countries and the work already undertaken by the Institute to improve the prospects of CCS deployment in various countries through its Capacity Development activities. The submission also presents analysis on the co-benefits of CCS including job creation and preservation, and addressing localised pollution.