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Expanded funding mandates a positive step forward for CCS in Australia
Expanded funding mandates a positive step forward for CCS in Australia

17th September 2020 - Australia, Melbourne

Melbourne, 17 September – The expansion of the mandates of two government bodies to include carbon capture and storage (CCS) was today welcomed by the Global CCS Institute as a positive step forward for the acceleration of CCS deployment in Australia.

“Today’s announcement from government to expand the remits of the Clean Energy Finance Corporation and the Australian Renewable Energy Agency’s beyond renewables is a welcome development”, said Brad Page, CEO of the international CCS think-tank.

“Alongside a funding commitment of $1.9 billion, this announcement demonstrates a strong commitment from government to the development and deployment of the next generation of low-emission technologies in Australia, including CCS”.

“CCS is a vital emissions abatement technology that is commercially available today and able to strengthen our economy and support jobs”.

“CCS technologies are critical to reducing emissions across hard to abate heavy industry, such as steel and cement manufacturing, that have very few other options to decarbonise”, said Mr Page.

Mr Page added that increased investment in CCS will lead to vast opportunities for the technology to drive the creation of new energy industries in Australia, leading to ongoing economic growth and development, in particular for regional areas.

“Investment in CCS today, ultimately increasing deployment of the technology in the near to medium term, creates opportunities for Australia to not only transition to significantly lower emissions, but unlock new clean energy industries, stimulate substantial economic activity and create jobs for our regions”, said Mr Page.

“CCS enables the production of very low-cost, near-zero emissions hydrogen, providing Australia with an incredible opportunity to invest now to be a future global leader in the production of clean hydrogen, as well as stimulating other clean energy industries such as low-emissions chemicals and fertiliser production.

Mr Page also welcomed the announcement of $50m for the establishment of CCS hubs, noting it brings Australia in line with international practice of maximising the opportunity of industrial CCS hub and clusters.

“CCS hubs and clusters are characterised by multiple industrial sources of CO2 accessing common CO2 transport and injection infrastructure. They significantly reduce the unit cost of CO2 transport and storage through economies of scale, and offer commercial and technical synergies that reduce the risk of investment and further reduce cost.

Industrial CCS hubs and clusters are emerging globally as the next wave of CCS investment and Australia is very well placed to exploit its world class storage opportunities with this initiative, Page said.

CCS is a proven versatile technology that reduces emissions from industry, power generation and hydrogen production and enables negative emissions through bioenergy with CCS and direct air capture.

Globally, there are now 20 large-scale CCS facilities capturing over 40 million tonnes of carbon dioxide every year. Australia is the home to the world’s largest geological storage facility – the Gorgon CCS facility in Western Australia.

 Contact: Lucy Temple-Smith (Melbourne): +61 466 982 068  lucy.temple-smith@globalccsinstitute.com

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change. Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible; sharing expertise, building capacity and providing advice and support so CCS can play its part in reducing greenhouse gas emissions.

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U.S Climate Crisis Action Plan Supports Adoption of Innovative CCS Technologies
U.S Climate Crisis Action Plan Supports Adoption of Innovative CCS Technologies

30th June 2020

30 June 2020, London U.K In the latest move to tackle climate change by U.S federal policy makers, the Global CCS Institute welcomes the release of the 2020 Climate Crisis Action Plan. Unveiled by the United States Select Committee on Climate Crisis, the action plan provides a comprehensive approach in the effort to significantly reduce carbon emissions in the United States by 2050.

The Global CCS Institute – a think tank that champions the wide-scale deployment of carbon and capture and storage – recognises this action plan as a positive next-step in the continued momentum towards the adoption of CO2 mitigating technologies. With hard to abate sectors already moving forward with innovative climate action technologies, this legislative document appears to bolster that effort even further.

“Currently, the US is a global leader in CCS with 10 large-scale plants operating and a further 18 in various stages of development, as well as 45Q, the most progressive CCS-specific incentive globally,” states Brad Page, CEO of the Global CCS Institute. “The United States' continued leadership in innovation is crucial to the necessary, 100-fold scale up of and access to CCS globally, an enabling technology for a globally equitable energy transition. As such, the Global CCS Institute welcomes the Select Committee’s recommendations to encourage carbon dioxide removal and storage measures in order to remove excess past emissions, reduce emissions from hard-to-abate sectors, and to support the developing world’s efforts to decarbonize," Page added.

The deployment of carbon capture and storage supports the urgent call by the IPCC to restrict global warming to 1.5 °C by 2050. The Global CCS Institute works alongside its members, including 13 organisations based in the United States, to ensure that goal remains within reach.

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Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.templesmith@globalccsinstitute.com

Guloren Turan (London): +44 782 505 7765 guloren.turan@globalccsinstitute.com

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com

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Carbon capture and storage pipeline grows by 10 large-scale facilities globally
Carbon capture and storage pipeline grows by 10 large-scale facilities globally

8th June 2020 - CCS Projects

8 June 2020, Washington, DC The Global CCS Institute, an international think tank, has added 10 carbon capture and storage (CCS) facilities to its global database, bringing the total number of CCS facilities in various stages of development to 59 with a capture capacity of more than 127 million tonnes per annum (mtpa)There are now 21 facilities in operationthree under construction, and 35 in various stages of development. 

Our recent CO2RE Database update shows that despite the current CV-19 crisis we are observing a significant increase in CCS facilities in the pipeline which demonstrates continued progress towards meeting climate targets, and will also result in significant job creation and economic growth”, said Global CCS Institute CEO Brad Page.  

In a recent flagship report on the value of CCS, the Global CCS Institute found that CCS deployment in line with the Paris Agreement and energy-related Sustainable Development Goals could create some 100,000 jobs in the industry by 2050 

The facilities added continue trends in CCS deployment that include innovative applications such as natural gas power, negative emissions and cement, as well as stacked and offshore geologic storage. Fuelled by targeted incentives and sustained government support the US adds nine facilities, while the UK adds one facility.  

We are thrilled to see the diversity of CCS applications. The average capture capacity of the new facilities is 2.6 mtpa, as opposed to 2 mtpa for those already in the pipeline, indicating that new facilities are aiming for economies of scale, and strengthening CCS’ role in large-scale emissions abatement. Nonetheless, with 21 facilities operating today, we still need at least a 100-fold scale-up to reach climate goals”, adds Brad Page.  

In the UK, the Drax bioenergy with CCS project aims to capture 4 mtpa from one of the existing biomass-fired power units by 2027, before converting all of its remaining biomass units to bioenergy with carbon capture and storage (BECCS) by 2035. The carbon dioxide (CO2) will be transported by pipeline and stored in the southern North Sea via dedicated geological storage. The project will be an anchor for the wider Zero Carbon Humber Cluster.  

The US continues to add a large number of facilities mainly as the result of the 45Q tax credit, and the California Low Carbon Fuel Standard CCS Protocol. For example, the combined incentives contribute to the economic viability of both California Resources Corporation’s (CRC) CalCapture Project, and Velocys and Oxy Low Carbon Ventures Bayou Fuels Negative Emission Project. Multiple projects were also awarded US Department of Energy (DOE) front-end-engineering-design (FEED) study grants, or part of CarbonSAFE, seeking to establish large-scale storage of 50 mtpa and more. The Zeros Project in Texas, in an important development for the CCS facilities pipeline, has also completed its FEED and entered pre-construction.  

“This is an important time for CCS in the US,” says Assistant Secretary for Fossil Energy Steven Winberg. “Policy incentives and research from DOE projects are working together to help industry move forward towards the goal of net-zero carbon emissions.” 

While the US does not currently have any natural gas plants equipped with CCS, the database update includes three gas plant projects: Mustang Station in Texas, Plant Daniel in Mississippi and CRC’s CalCapture facility in California. This brings the total natural gas-fuelled power plants with CCS under development globally in the database to six.  

The CalCapture project offers multiple benefits including substantial emissions reductions, prolific positive economic impacts across the California economy, and development of a key technology needed worldwide to meet future energy transition targets. The FEED for the Cal Capture project is expected to be completed by the end of 2020, which would position the project for permitting, construction and commissioning by mid-decade”, said Shawn Kerns, CRC Executive Vice President of Operations and Engineering. 

Moreover, two projects, the San Juan Generating Station and CRC’s CalCapture facility, are also evaluating plans for stacked storage, using both geologic storage with enhanced oil recovery, as well as dedicated storage in saline formations 

Oxy Low Carbon Ventures (LCV) has teamed up with LaFarge Holcim and Total to evaluate the capture of CO2 from a cement plant in Colorado, and Oxy LCV also intends to store CO2 from Velocys’ biofuel production, delivering negative emissions.  

The facilities update comes on the heels of continued momentum for CCS, including the Alberta Carbon Trunk Line becoming fully operational,  a positive investment decision by Equinor, Shell, and Total for the Northern Lights project, supportive policy momentum in Australia, and a $131 million funding announcement by the US Department of Energy.  

View the Global CCS Institute database at co2re.co 

Download New Projects detail

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Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@globalccsinstitute.com 

Guloren Turan (London): + 44 782 505 7765 guloren.turan@globalccsinstitute.com 

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com 

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Global CCS Institute welcomes the 20th and 21st large-scale CCS facilities into operation
Global CCS Institute welcomes the 20th and 21st large-scale CCS facilities into operation

3rd June 2020

2 June 2020, Washington, DC – A refinery and a fertiliser plant connected to the now operational Alberta Carbon Trunk Line (ACTL) have become the world’s 20th and 21st large-scale carbon capture and storage (CCS) facilities in operation.

The ACTL carbon capture, utilisation and storage system, announced as fully operational today, utilises and stores CO2 captured at the North West Redwater Partnership (NWR) Sturgeon Refinery and Nutrien’s Redwater Fertilizer Facility. The two projects have a combined capture and storage capacity of almost 1.6 million tonnes of CO2 per annum (mtpa).

“We welcome this significant milestone of CCS deployment. It is also exciting to see the next wave of CCS projects commencing as we are moving to decarbonising industrial areas through CCS hubs and clusters. There are 51 large-scale facilities globally – now 21 in operation, two under construction, and 28 in various stages of development with an estimated combined capture capacity of just over 100 million tonnes of CO2 per annum”, said Brad Page, CEO of the Global CCS Institute, a think tank which tracks global, large-scale CCS projects in its co2re.co database.

The ACTL is a 240 km pipeline that transports CO2 to aging oil fields for secure and permanent geologic storage via enhanced oil recovery (EOR). The pipeline offers transport services and is owned and operated by Wolf Midstream while Enhance Energy will be the owner and operator of the CO2 utilisation and storage part of the facility. The pipeline can transport up to 14.6 mtpa of CO2.

Currently transporting about 1.6 mtpa, the system’s capacity indicates the potential for other industrial facilities to capture their CO2 and use the ACTL’s transport network, reducing risk and cost. At full capacity, the ACTL could become the largest carbon capture and storage system in the world.

“This is just the beginning,” said Jeff Pearson, President of Wolf Midstream’s Carbon Business Unit. “The future of energy and a lower carbon economy relies on key infrastructure like the ACTL”. Kevin Jabusch, CEO of Enhance Energy, added “We are putting CO2 to use. We permanently keep CO2 out of the environment, while producing low-carbon energy. Not only are we reinvigorating our rural energy economy at a time when it is needed most, but we are playing a key role in advancing a sustainable solution to global energy requirements.”

“With the addition of ACTL, we have welcomed three CCS facilities commencing operation in the past 12 months, demonstrating the important progress made to deploy CCS on the road to net-zero emissions.”, Mr Page said.

In August 2019, the Gorgon facility in Australia became the 19th CCS facility. By 2050 approximately 2000 facilities are expected to be needed to meet climate and energy-related sustainable development goals, according to the International Energy Agency.

Hubs and clusters, like the ACTL providing transportation and storage infrastructure for multiple sources of CO2, are largely regarded as the next wave of CCS projects. These projects unbundle the capture, transportation, and storage of CO2, reducing project risk and cost, and allowing each project party to focus on their core competencies, while also enabling further capture sources to be connected.

The ACTL was supported with CAD$495 Million from the Alberta Government’s CCS Fund, as well as with CAD$63 Million from the Canadian Federal Government.

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Guloren Turan (London): +44 7825 057765 guloren.turan@globalccsinstitute.com

Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@globalccsinstitute.com

 

About the Global CCS Institute:  The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com

Technology Investment Roadmap signals core role for CCS in emissions reductions
Technology Investment Roadmap signals core role for CCS in emissions reductions

21st May 2020 - Australia

Melbourne 21 May 2020 – The release of the Technology Investment Roadmap Discussion Paper was today welcomed by the Global CCS Institute as another positive step forward for the acceleration of new and emerging emission reduction technologies, including carbon capture and storage (CCS), in Australia.

“Today’s Discussion Paper release is an important development in Australia’s progression towards implementing a technology neutral emissions reduction policy”, said Brad Page, CEO of the international CCS think-tank.

“For too long policy makers in Australia have had a single-dimension view on emissions reduction policy that focuses solely on renewable electricity. While massively increased deployment of renewables is required, alone they cannot achieve the emission reductions necessary across the whole economy.

“CCS is a vital emissions abatement technology that is commercially available today and able to strengthen our economy and support jobs.

“The inclusion of carbon, capture use and storage in the Paper demonstrates the vital role of CCS in Australia’s climate policy future and our sustainable economic recovery from COVID-19”.

“As demonstrated by the IPCC, the IEA and others, the rapid deployment of large-scale CCS technologies is vital if we are to achieve net-zero emissions by mid-century and global climate change targets”.

Mr Page noted the technology was of particular importance for reducing emissions across hard to abate heavy industry, such as steel, fertiliser and cement manufacturing, that has very few other options to decarbonise.

“The Institute also welcomes the strategic and system-wide view to future investments in low emissions technologies enabled by this Roadmap.

“Achieving climate change targets requires a multifaceted emissions reduction strategy to decarbonise not only our energy sector but also transport, buildings, agriculture and – critically – hard to abate, emissions intensive industry that has very few alternative decarbonisation solutions.

Mr Page said creating market signals for CCS, stimulating investment and ultimately increasing deployment of the technology in Australia also provides the opportunity to transition to net zero emissions and secure a clean energy future, whilst unlocking new clean energy options, and sustaining local communities reliant on extractive industries.

Alongside CCS, the Technology Roadmap Discussion Paper signaled the Government sees enormous potential in the development of hydrogen, soil carbon sequestration, biofuels, resources and energy exports technologies.

CCS is a proven versatile technology that reduces emissions from industry, power generation and hydrogen production and enables negative emissions through bioenergy with CCS and direct air capture. Globally, there are now 19 large-scale CCS facilities capturing an estimated 40 million tonnes of CO2 every year. An additional 32 facilities are at various stages of planning and development. Australia is the home to the world’s largest geological storage facility – the Gorgon project.

 

Lucy Temple-Smith (Melbourne): +61 466 982 068  lucy.temple-smith@globalccsinstitute.com

Guloren Turan (London) +44 02036911765  guloren.turan@globalccsinstitute.com

Lee Beck (Washington DC): +1 202-677-9053 lee.beck@globalccsinstitute.com

 

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change. Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible; sharing expertise, building capacity and providing advice and support so CCS can play its part in reducing greenhouse gas emissions.

Norway’s Flagship CCS Project Northern Lights Receives Green Light by Project Partners
Norway’s Flagship CCS Project Northern Lights Receives Green Light by Project Partners

20th May 2020 - Norway, Oslo

Oslo, Norway – The Global CCS Institute has welcomed the positive investment decision by project partners Equinor, Shell, and Total to move ahead Norway’s flagship CO2 transport and storage project, Northern Lights. The project has now been handed over to the Ministry of Petroleum and Energy for Government approval.

“This positive decision is not only a step in the right direction for CCS but also pushes ahead an urgently needed solution for European industrial emissions”, said Brad Page, CEO, Global CCS Institute. “CCS is not only an essential climate mitigation technology but also a driver of economic growth and employment” he added, noting the project will generate significant number of jobs for Norwegian industry, with the projects partners estimating 57 percent of the investment going to Norwegian contractors.

The project, which is run by Equinor in partnership with Shell and Total, will provide CO2 storage as part of the Full-Scale CCS project in Norway. The project will be developed in stages, with phase one developing the infrastructure to transport, inject and store up to 1.5 million tonnes of CO2 per year by 2024. It will provide the necessary infrastructure for the first large-scale CO2 capture in the waste-to-energy and cement industries, both of which are so far largely overlooked in climate efforts but whose decarbonization is crucial. Cement production alone produces eight per cent of global CO2 emissions, while waste is becoming a growing environmental problem.

“The FID by the Government of Norway is expected later this year and will be among the last steps before the project can break ground. We are, of course, hoping for a green light from the Government so this important flagship project can be built as a successful example of leveraging public-private partnerships for innovative decarbonisation through CCS. This project is of utmost global importance”, said Page.

Late 2019, a test well was drilled, and suitability of the rock formation was confirmed in March 2020. Last year, seven companies from various European industries joined the Full-Scale project via memoranda of understanding (MoUs). A major hurdle posed by the London Protocol, preventing the cross-border transport and export of CO2 for geologic storage offshore, was overcome in October. Northern Lights was also designated a Project of Common Interest (PCI) by the European Union (EU).

Northern Lights, which could eventually capture and store up to 5 million tonnes of CO2, will boost European CCS efforts and accelerate progress towards meeting Europe’s climate neutrality goals. It is envisioned to become an offshore CO2 storage hub for Europe unlocking investment in carbon mitigation initiatives across the continent.

Currently, there are 19 CCS operating CCS facilities globally. A further 32, including the Northern Lights Project, are in various stages of development.

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Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@globalccsinstitute.com

Lee Beck (Washington DC): +1 202 677 9053 lee.beck@globalccsinstitute.com

Guloren Turan (London): + 44 782 505 7765 guloren.turan@globalccsinstitute.com

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com

 

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Australian Government response to King Review paves way for increased CCS investment
Australian Government response to King Review paves way for increased CCS investment

19th May 2020 - Australia, CCS, Investment, Policy

Melbourne 19 May 2020 – The Global CCS Institute, an international think-tank backed by governments, industry, research and financial institutions, today welcomed the Morrison Government’s response in accepting all carbon capture and storage (CCS) recommendations made by an expert panel review into emissions reductions policy in Australia.

“We welcome the Government’s response to the King Review as a critical step forward in unlocking private sector investment and accelerating the deployment of CCS in Australia”, said Brad Page, CEO of the Global CCS Institute.

The accepted recommendations included legislative amendments to enable the development of a CCS method within the $2 billion Emissions Reduction Fund, expansion of the Clean Energy Finance Corporation and Australian Renewable Energy Agency to open up private sector investment in CCS and the development of a co-investment program to accelerate investment in emissions intensive heavy industries.

Mr Page said the response signals the accelerated commitment to progressing CCS technologies in Australia, as well as providing recognition of the key role CCS can play in decarbonising the hard-to-abate industrial sectors and unlocking new clean energy options.

“As demonstrated by the IPCC, the IEA and others, the rapid deployment of large-scale CCS technologies, in particular across emissions intensive heavy industry with very few alternative decarbonisation solutions, is vital if we are to reduce emissions to net-zero emissions by mid-century and achieve global climate change targets”.

“For this to happen at the scale required, robust policy frameworks and increased collaboration between the public and private sectors are essential to manage and reduce risks and stimulate investment”.

“The increased deployment of CCS in Australia also provides the opportunity to transition to a net-zero emission economy and secure a clean energy future, whilst sustaining local communities reliant on extractive industries”, said Mr Page.

CCS is a proven versatile technology that reduces emissions from industry, power generation and hydrogen production and enables negative emissions through bioenergy with CCS and direct air capture. Globally, there are now 19 large-scale CCS facilities capturing an estimated 40 million tonnes of CO2 every year. An additional 32 facilities are at various stages of planning and development. Australia is the home to the world’s largest geological storage facility – the Gorgon project.

CONTACT:

Lucy Temple-Smith (Melbourne): +61 466 982 068  lucy.temple-smith@globalccsinstitute.com

Guloren Turan (London) +44 02036911765  guloren.turan@globalccsinstitute.com

Lee Beck (Washington DC): +1 202-677-9053 lee.beck@globalccsinstitute.com

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change. Working with and on behalf of our Members, we drive the adoption of CCS as quickly and cost effectively as possible; sharing expertise, building capacity and providing advice and support so CCS can play its part in reducing greenhouse gas emissions.

Understanding the true value of carbon capture and storage: new paper highlights strong case for technology investment and deployment
Understanding the true value of carbon capture and storage: new paper highlights strong case for technology investment and deployment

13th May 2020 - London

London, UK – The Global CCS Institute, a think tank backed by governments, industry, research and financial institutions, released today an expert paper aiming to assess and redefine the value and full range of benefits of carbon capture and storage (CCS). The report demonstrates the positive society-wide benefits of the technology, including economic, social and environmental benefits and opportunities linked to this clean energy technology’s deployment.

“CCS needs to be an integral part of the solution to building resilient and climate neutral economies and deliver net-zero emissions. Investment in the technologies also drives economic growth and employment. This paper brings together recent data, insights and analysis on CCS’ full potential. We hope that it will help policymakers assess the range of opportunities advanced by investing and deploying the technology”, said Guloren Turan, General Manager, Advocacy and Communications, Global CCS Institute.

The paper highlights the imperative need to conceptualise the full potential and multifaceted value of CCS and reveals that it can benefit whole communities, industries, countries and regions.

The analysis of the report finds that as part of a portfolio of climate mitigation solutions, CCS is a cost-effective and versatile option able to significantly reduce CO2 emissions in several hard-to-abate industrial sectors such as cement, chemicals, and steel, as well as provide low-carbon, dispatchable power. It will also be crucial to decarbonize hydrogen production currently the source of some 700 mtpa of CO2 emissions (equivalent to combined total emissions of the UK and Indonesia), as well as delivering negative emissions. The deployment of CCS today also lowers the overall cost of the energy transition as well as the risk of falling short on global climate targets, increasing resilience of climate strategies by diversifying technology options.

The report also examines CCS’ role as a driver of economic growth and employment. Addressing social aspects and supporting a just transition, CCS can alleviate the geographic and timing mismatches of the transition. For example, jobs in emissions-intensive industries such as cement, iron and steel are high-quality and high-paid, and often local communities rely on them. CCS application will support the preservation of these jobs.

Furthermore, CCS will support the creation of an industry workforce and supply chain fit for a net-zero economy while also creating and maintaining both direct and indirect employment. In fact, to reach energy-related sustainable development goals and the Paris Agreement, more than 2000 facilities will be needed by mid-century, requiring at least 100,000 employees.

The technologies’ deployment can also create value to society by creating new net-zero industries and innovation spillovers potentially catalysing innovation-led economic growth in other industries. The opportunities to re-use infrastructure for CO2 storage and transportation in harmony with the large-scale deployment of CCS could also result in significant synergies including ease of permitting and cost reductions as well as deferring decommissioning costs, freeing up overall resources for the energy transition.

Globally, there are now 19 large-scale CCS facilities capturing an estimated 40 million tonnes of CO2 every year. An additional 32 facilities are at various stages of planning and development.

Full report can be downloaded here.

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Lucy Temple-Smith (Melbourne): +61 466 982 068 lucy.temple-smith@globalccsinstitute.com

Lee Beck (Washington DC): +1 202 677 9053 lee.beck@globalccsinstitute.com

Guloren Turan (London): + 44 782 505 7765 guloren.turan@globalccsinstitute.com

About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com

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HRH The Prince of Wales Hosts High-Level CCS Roundtable
HRH The Prince of Wales Hosts High-Level CCS Roundtable

19th March 2020

London, UK  – His Royal Highness The Prince of Wales and Global CCS Institute CEO Brad Page convened experts and senior leaders from finance, energy, and technology sectors as well as from academia to discuss how to accelerate the deployment of carbon capture, and storage (CCS) technologies.

The meeting was convened as part of The Prince of Wales’s Sustainable Markets Initiative. At the event, participants discussed what concrete steps need to be taken in order to scale up the deployment of CCS by at least 100-fold by mid-century in order to meet global climate ambitions.

“It is an honour for the Institute to convene this important discussion with The Prince of Wales, a leading advocate for climate change. We are grateful for his leadership on addressing climate change and raising awareness for the role of CCS in climate mitigation”, said Brad Page, CEO of the Global CCS Institute, an international think tank supported by governments and businesses.

“There are now 19 large-scale CCS facilities in the world capturing about 40 million tonnes of CO2 every year. A further 32 facilities are in planning with the facilities pipeline growing continuously. While this momentum is positive, it is far from where we need to be, and we need governments and the private sector to accelerate the deployment. After all, the technology is proven, ample storage is available, costs are coming down, and CCS is key to delivering a globally equitable and just transition,” said Mr. Page.

Participants agreed that a value on carbon reflecting the externalities of carbon emissions is vital. Further supportive policies could consist of both incentives such as tax credits and regulation, for example through producer obligations. Hubs and clusters, generally seen as the next wave of CCS facilities and which achieve economies of scale through infrastructure and storage sharing of multiple facilities, have emerged as a preferred business model globally.

A pressing question for CCS remains how to mobilise affordable financing for CCS facilities. A key message emerging from the roundtable discussion was that the finance sector is ready with ample funding available for CCS projects that have a robust business case.

“We are seeing new participants enter the CCS market as well as increased interest from technology companies. This really is a game-changer as they can not only bring down cost, but they are also working on exciting and innovative new applications”, said Brad Page.

The high-level gathering comes following HRH The Prince of Wales’s keynote at the World Economic Forum in Davos where he spoke about the Sustainable Markets Initiative and offered 10 practical actions to drive a new economic model that puts people and planet first. The Global CCS Institute is looking forward to further supporting HRH The Prince of Wales’s Sustainable Markets Initiative as it relates to CCS innovation and deployment.

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Global CCS Institute welcomes new CCS funding announced in UK Government’s 2020 Budget
Global CCS Institute welcomes new CCS funding announced in UK Government’s 2020 Budget

12th March 2020

London – 11 March 2020 – The Chancellor of the Exchequer Rishi Sunak presented today the UK 2020 Budget to the UK Parliament. The Global CCS Institute welcomes the new funding commitment announced for carbon capture and storage (CCS) project deployment and infrastructure.

The budget sees the establishment of a new CCS Infrastructure Fund of at least £800 million aiming to support the development of at least two UK CCS sites. The first CCS site to be build up by the mid-2020s and the second one to follow by 2030.

The UK Government also announced that it plans to support at least one CCS gas power station by 2030 with the help of consumer subsidies.

In June 2019, the UK enshrined in law its ambition to reach net-zero carbon emissions by 2050. The country will also host COP26 later this year. The UK Government sees CCS as a key climate mitigation technology, supporting its efforts to decarbonise both industry and power generation as well providing the option to deliver negative emissions at scale.

During his speech at the House of Commons today, the Chancellor of the Exchequer said that once up and running the planned CCS clusters supported by the new fund could create up to 6000 high-skilled, high-waged low-carbon jobs in areas such as Teesside, Humberside, Merseyside and St-Fergus in Scotland.

Welcoming the new funding announcement and CCS ambition of the 2020 UK Budget, Guloren Turan, General-Manager for Advocacy and Communications said: “This new funding signals that the UK Government recognises the importance of CCS in decarbonising industry, achieving its ambitious climate targets and creating clean growth opportunities for its economy. This funding will support efforts to accelerate CCS deployment to decarbonise major industrial hubs and clusters across the UK.  The UK Government has shown ambition and commitment while putting forward positive policy developments to deploy CCS at scale during the 2020s and 2030s. This can be seen notably in BEIS’ work and efforts around the development of new business models for CCS in the UK. The Government has a unique opportunity to become a global leader in this field. This year’s COP26 will also be an opportunity to highlight its CCS efforts.”

There are currently six large-scale CCS projects at different stages of development and one BECCS project in the UK. These include Acorn CCS, Caledonia Clean Energy, Clean Gas project, HyNet North West, H21 North of England, Net Zero Teesside, and BECCS pilot plant at Drax Power Station.

More about the UK 2020 Budget here.

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Global CCS Institute Statement on the New Industrial Strategy for Europe
Global CCS Institute Statement on the New Industrial Strategy for Europe

11th March 2020

The Global CCS Institute welcomes the new European Industrial Strategy released by the European Commission. The strategy highlights the important role of industry, with emphasis on energy-intensive sectors, in delivering Europe’s ambition of becoming a climate-neutral continent by 2050 at the latest.  The Communication puts forward the Commission’s vision for the future of Europe’s industry and what it must achieve by 2030. It is a starting point laying out the foundations for how Europe and its industries will deliver clean technologies, low-carbon energy vectors, innovation and climate neutral products.

In this proposed new growth strategy for Europe, carbon capture and storage (CCS) has an essential role to play in supporting Europe’s climate ambition and the transformation of key European industries and sectors. In its Communication, the Commission emphasises that the transformation and modernisation of energy-intensive industries “must be a top priority”, given the importance of these sectors for Europe’s economy.

In Europe, CCS can support efforts to deliver deep emission reductions in energy-intensive industries such as cement, chemicals and steel. It also has the ability to lower the carbon footprint of key industrial products.

Following the release of the new Industrial Strategy, Guloren Turan, General-Manager for Advocacy at the Global CCS Institute said:

“The Commission’s new strategy is an important starting point as industries prepare to undergo significant transformation to ensure their transition to climate neutrality. CCS can be an important accelerator and enhancer of deep decarbonisation efforts.  The set of technologies is versatile and has the unique ability to provide significant emission reductions in important European industries including cement and steel. CCS is also an important enabler of clean hydrogen production and should be considered in light of the new proposed European Clean Hydrogen Alliance. The strategy lays important foundations for future industry endeavours. Enabling actions, roadmaps and other levers must now be put in place to accelerate the transition and transformation of industry as well as the deployment of CCS and CO2 infrastructure. We are at a crucial time and to ensure that the solutions, technologies and infrastructure we need will be available, we must put forward the right incentives and policies in place.”

In addition to its two operating large-scale CCS projects, Europe hosts a number of industrial CCS projects that are currently at different stages of development. These projects have the potential to decarbonise cement production, waste-to-energy and hydrogen production.  The development of smart common CO2 transport and storage infrastructure will also be an important element to support industries efforts to decarbonise.

Read the Institute’s recent paper on the European Green Deal here.

Global CCS Institute releases Brief for Policymakers – CCS: Targeting Climate Change
Global CCS Institute releases Brief for Policymakers – CCS: Targeting Climate Change

5th March 2020

Washington, DC – March 5 2020 – The Global CCS Institute, a think tank, has this week released CCS: Targeting Climate Change, a brief for policymakers globally. CCS: Targeting Climate Change summarizes the key findings of the Institute's latestGlobal Status of CCS Report which documents a range of important milestones for CCS, its status across the worldand the key opportunities and benefits the technology presents.  

Global CCS Institute CEO Brad Page emphasized: Policy is key to unlocking investment in CCS and achieving the necessary 100-fold scale-up of CCS to meet net-zero emissions climate goals. As such, this new brief is a concise resource for policymakers globally to further understand the vital role of CCS when formulating policies to target climate change. 

CCS: Targeting Climate Change outlines the benefits of CCS, the urgent need for deployment to scale up and practical ways to support CCS deployment through supportive policy frameworks. It also provides an overview of the role of CCS technologies in the net-zero emissions transition, as well as key progress on CCS and climate action globally.  

There are now 51 large-scale CCS facilities in operation or under development globally in a variety of industries and sectors. These include 19 facilities in operation, four under construction, and 28 in various stages of development. Of all the facilities in operation, 17 are in the industrial sector, and two are power projects.   

The United States is currently leading the way in CCS development and deployment with 24 large-scale facilities, followed by 12 facilities both in Europe and the Asia Pacific region, and three in the Middle East. 

The brief can be downloaded at globalccsinstitute.com     

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