The Global CCS Institute is pleased to announce the opening of its Project Funding and Support Program, as part of its objective to accelerate the global deployment of CCS.
This program will make available approximately AUD $50 million per annum to support a substantial portfolio of CCS projects around the world.

Through this program, the Global CCS Institute will seek to reach out to large-scale CCS project proponents in a flexible and proactive manner to identify opportunities for project assistance. Support will focus on projects offering the greatest return towards delivering the objective of accelerating the construction and operation of CCS projects. The program will also seek to facilitate related knowledge sharing in an effort to remove barriers facing the broader industry.

The Global CCS Institute can maximise its financial resources most effectively by funding and supporting large-scale CCS projects in the critical stages of project development and implementation. This will include, but is not limited to:

• funding to undertake concept and pre-feasibility studies, or to deliver strategic outcomes to specific aspects of feasibility and Front End Engineering and Design (FEED) studies;
• provision of assistance to CCS projects, so that project barriers are removed; and
• other types of support, which may relate to representational support of the project, regulatory facilitation and linking potential project partners and investors.

See the Project Funding and Support Program Guidelines for eligibility and assessment criteria, as well as guidelines for submission.

The Global CSS Institute is undertaking a comprehensive audit of the world’s current CCS projects. This will determine:

• Project status
• The costs involved with CCS
• The impact of the global financial crisis
• Policy and regulatory frameworks
• Research and development efforts
• Commercial and non-commercial gaps in the global deployment of CCS.

This global assessment will establish a comprehensive reference point for the international community in the current economic climate.

On completion of this audit, the Global CCS Institute will provide a suggested approach on how to overcome deployment gaps, while forming a database that tracks and evaluates CCS deployment. The details gathered will also provide a valuable resource to facilitate informed discussion at future international climate change and energy meetings, ultimately helping to shape international and national policy on CCS.

A key priority for the Global CCS Institute is to identify a portfolio of CCS project types. A rationale will be developed to define strategic projects for support.
 
The desired portfolio will include a variety of CCS projects, spanning different technologies and geographic regions, to deliver a comprehensive global approach.

This will boost confidence in CCS globally, and accelerate opportunities for the exchange of information that will reduce costs and enhance public awareness.

The Global CCS Institute is working with key strategic partners to reach agreement on what it means to be ‘CCS Ready’.

Current attempts to define the concept have focused either on the technical requirements needed to adapt/retrofit power plants for carbon capture, or alternately, have centred on the policy framework required for mandatory regulation.

The Global CCS Institute is working collaboratively with other international governments and bodies to create principles for determining CCS Readiness. This can assist in the development of best practice guidelines and boost the capacity of governments and industry to assess all aspects of CCS readiness - regulatory, financial and technical.

This in turn will assist the world’s policy makers and regulators to support industry players and allow for the accelerated development and deployment of CCS technologies.

As one of its initial priorities, the Global CCS Institute is developing a broad and inclusive framework to allow knowledge sharing between diverse stakeholders across CO₂-intensive industries.

This sharing of knowledge across international boundaries is an essential aspect of the innovation cycle, offering multiple benefits from cost reduction through to the development of best practice guidelines.

Ultimately, the ability of the Global CCS Institute to provide detailed information on CCS costs and performance will give governments and companies greater confidence to invest in CCS technology, and fuel research for the next generation of CCS innovations.