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Australian Federal Budget – More Support for CCS Needed to Achieve Net-Zero
Australian Federal Budget – More Support for CCS Needed to Achieve Net-Zero

25th October 2022

The Global CCS Institute said the Australian Federal Budget, although containing important measures across climate, was lacking the necessary support for carbon capture and storage (CCS).

Alex Zapantis, General Manager – Commercial at the Global CCS Institute, said CCS is critical to achieving climate targets and requires a range of incentives to reach necessary scale.

“CCS is critical to achieving global climate neutrality and will play an important role in achieving national net-zero targets,” said Mr Zapantis.

“Australia is well placed to play a leading global role in lower-carbon LNG, clean hydrogen, and carbon dioxide (CO2) storage as a service, all made possible by CCS. Not only is the technology suite essential to reducing CO2 emissions, CCS investment also offers significant social and economic benefits, most notably a just transition for communities reliant on carbon-intensive industries.”

“The Institute recognises and welcomes ongoing support for CCS in hard-to-abate industrial sectors and negative emissions and funding for the Middle Arm Sustainable Development Precinct in the Northern Territory. However, funding previously committed to CCS should have been realised. The Government’s decision places it in stark contrast to other advanced economies that are providing significant support for CCS, recognising its importance to climate ambition and economic prosperity.  The European Union and the governments of the Netherlands, Denmark, Norway, the UK, USA and Canada are each providing billions of dollars to support CCS investment and secure the future of their heavy industry.”

“Domestic policy settings must attract private capital to deploy CCS at necessary scale, requiring a range of incentive mechanisms. Coupled with the strengthening of the Safeguards Mechanism and access to Australian Carbon Credit Units (ACCUs), funding for CCS is necessary to provide confidence for investors.”

“Decarbonising the Australian economy without CCS is nearly impossible. Without government support at this critical juncture, the transition will be far more costly and volatile, particularly for our regions.”

CCS is proven and well understood, with 30 operational facilities around the world with a cumulative capture capacity of more than 40 million tonnes of CO2 per year. A recent report from the Institute revealed momentous growth in the CCS project pipeline, with 196 facilities in various stages of development around the world and improving policy environments from governments.

 

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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@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.

Carbon Capture and Storage Experiencing Record Growth as Countries Strive to Meet Global Climate Goals
Carbon Capture and Storage Experiencing Record Growth as Countries Strive to Meet Global Climate Goals

17th October 2022 - Australia, Melbourne

Carbon capture and storage (CCS) continues to grow worldwide, according to a new report released by climate think tank the Global CCS Institute. The Global Status of CCS 2022 report reveals a record high of 196 commercial CCS facilities in the project pipeline, including 30 projects in operation, 11 under construction, and 153 in development. With 61 new facilities added to the project pipeline in 2022, the CO2 capture capacity of all CCS facilities under development has grown to 244 million tonnes per annum (Mtpa) – an impressive growth of 44 percent over the past 12 months.

The Global CCS Institute’s CEO, Jarad Daniels, said the rate of growth for CCS can be expected to increase further as countries and companies work to achieve their climate commitments on a shrinking carbon budget.

“The latest, most credible scientific analysis from organizations including the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), highlights that reaching our climate goals is practically impossible without CCS” said Mr. Daniels.

“CCS is the Swiss Army knife of climate mitigation - it will continue to play multiple, unique roles in decarbonising the global economy. Many essential industries like cement and chemical production have no other viable path for deep decarbonisation other than CCS.”

Not only is CCS vital for reducing CO2 emissions, investment in CCS also offers significant economic and social benefits. For example, CCS can help facilitate a just transition in communities who are reliant on carbon intensive industries; protecting local jobs from economic dislocation by helping transform emission-intense industries to near-zero industries.

As CCS continues to scale-up we are also seeing savings in cost and efficiency of deployment. ”Thanks in part to strengthening government policies around the world, CCS is increasingly commercially competitive across the full value chain, from capture technologies through to storage,” explained Mr. Daniels. “We anticipate even more strategic partnerships and collaboration driving deployment, particularly through CCS networks.”

The Global Status of CCS 2022 shows:

  • In 2022, there are 30 commercially operating CCS facilities, 11 facilities in construction and 153 in various stages of development
  • The capture capacity of CCS projects in the project pipeline is 244 million tonnes per annum (Mtpa) – an increase from 169 Mtpa in 2021.
  • The United States has introduced significant policies and laws, most notably the Inflation Reduction Act (IRA) which provides enhancements to the 45Q tax credit for CCS. Early analysis suggested the IRA could increase the deployment of CCS by 13-fold, or well over 110 Mtpa, by 2030 compared to existing policy.
  • Canada continues to pursue CCS as part of broader decarbonisation, with the 2022 Federal Budget including a CCUS Tax Credit and a CCUS strategy currently under development.
  • In Europe, the Danish Government has committed €5 billion for CCS over 10 years, the Dutch Government has more than doubled the SDE++ program since its launch, to €13 billion. Several new countries in Europe, including Poland, Bulgaria, and Finland, are entering the CCS market for the first time due to the EU Innovation Fund’s granting program.
  • In the Asia Pacific region, Thailand announced its first CCS project, China’s first million tonne project commenced operations, and Australia saw new project announcements in Victoria and Western Australia, and notable progress in the Northern Territory.
  • Across the MENA region, CCS continues to be driven by NDCs and net-zero commitments, the potential to take a significant share of the low-carbon hydrogen market, and various low carbon industrialization plans.

Although the outlook for climate action has never been more positive, global efforts to reduce emissions, including investment in CCS, are still grossly inadequate. “Government policy must be met with private capital to unlock the full potential of CCS and limit global warming to 1.5 degrees to avoid the most catastrophic impacts of climate change. Though CCS deployment is scaling rapidly, we need to see an increase by at least a factor of 100 if we are to achieve the Paris climate goals, which makes this decade an absolutely critical time to move from ambition to action.”

 

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US / North America

Jessica Oglesby

Jessica.oglesby@globalccsinstitute.com

 

 Europe / MENA  

Ruth Gebremedhin

ruth.gebremedhin@globalccsinstitute.com

 

Asia Pacific

Matt Steyn

matt.steyn@globalccsinstitute.com

Global CCS Institute Welcomes White House Announcement of Two New Taskforces on Carbon Capture and Storage
Global CCS Institute Welcomes White House Announcement of Two New Taskforces on Carbon Capture and Storage

29th July 2022 - Washington DC

In the Federal Register today the White House Council on Environmental Quality announced the creation of two new taskforces on “Carbon Dioxide Capture, Utilization, and Sequestration (CCUS)” which will provide recommendations on increasing the efficiency and equity of CCUS permitting and development. One of the taskforces will focus on CCUS deployment on federal lands and offshore waters, while the other focuses on non-federal lands.

The Global CCS Institute’s CEO, Jarad Daniels, welcomed this development, saying: “Today’s announcement further demonstrates the Biden Administration’s commitment to climate leadership. The science tells us that CCUS is necessary to achieve our global climate goals, and these two new taskforces will help accelerate decarbonization across the United States, putting us on a stronger trajectory towards net-zero emissions.”

The U.S. is undoubtedly a global leader in CCUS with 12 commercial facilities in operation and approximately 70 additional facilities under development, but further action is urgently needed. “The challenge before us is that globally we need to scale well beyond five gigatonnes of carbon capture annually within the next few decades to help achieve our global climate goals, which is over 100x our current capacity,” Mr. Daniels said, referencing findings from recent International Energy Agency reports. “Reaching gigatonne scale CCUS is an all-hands-on-deck effort and that means we need broad public support. These two new taskforces will help ensure that a wide range of stakeholders, particularly local communities, have a voice in CCUS projects and benefit from their development.”

 

CONTACT

Jess Oglesby

Senior Communications Lead for the Americas

Jessica.oglesby@globalccsinstitute.com

 

ABOUT

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 deliver climate neutrality. For more information, visit www.globalccsinstitute.com

IPCC Report Reaffirms Carbon Capture and Storage as a Critical Technology for Mitigating Climate Change
IPCC Report Reaffirms Carbon Capture and Storage as a Critical Technology for Mitigating Climate Change

5th April 2022

The most recent report from the UN International Panel on Climate Change (IPCC) has reaffirmed the vital role of carbon capture and storage (CCS) technologies in achieving global climate goals. Global CCS Institute CEO, Jarad Daniels, said the report underscores the scale of action required and the necessity of CCS in limiting global warming.

“The IPCC has once again confirmed that CCS is key to reaching net-zero emissions by mid-century and mitigating climate change. The Institute welcomes that the report has highlighted the need for CCS across a range of sectors, including energy production, manufacturing and industry, and carbon dioxide removal (CDR),” Mr Daniels said.

The Working Group III report, compiled by a panel of leading climate experts, indicates that whilst progress has been made on reducing emissions in the past decade they remain at record highs. The authors warn that without greater policy ambition to halve emissions in the next decade warming would pass 1.5 degrees, signaling a failure to meet the goals of the Paris Agreement.

In reference to CCS the report notes that, although the technology suite is well understood, it faces several barriers and deployment lags behind rates in modelled pathways limiting warming to 1.5 or 2 degrees. It says enabling conditions such as policy instruments, greater public support and technological innovation could reduce these barriers.

“Although CCS has seen unprecedented global growth in recent years – with 29 commercial facilities in operation and over 100 projects now in various stages of development – much more is required,” said Mr Daniels.

“CCS is mature and deployment-ready. Governments have a key role to play in developing an enabling investment environment by setting clear CCS policy, ranging from support for geological storage assessments to creating financial incentives for the permanent storage of carbon dioxide.”

Amongst solutions including renewable energy, agricultural adaptation, and energy efficiency, the report highlighted an important role for CDR technologies including direct air capture and bioenergy with CCS in delivering net-zero and net-negative emissions beyond mid-century.

 

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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@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

Global CCS Institute Announces Appointment of Dr. Xiaoliang Yang as Country Manager of China
Global CCS Institute Announces Appointment of Dr. Xiaoliang Yang as Country Manager of China

22nd March 2022

The Global CCS Institute is pleased to announce the appointment of Dr. Xiaoliang Yang as its China Country Manager, beginning 21 March, 2022.

Xiaoliang has extensive expertise in CCUS, clean energy technology development, and international cooperation through his career. In his most recent role as the technology director of China Oil & Gas Climate Investments, Xiaoliang led a team to conduct a pre-feasibility study for a CCUS hub in the Northwestern China. During his previous role as Acting Director for China's Climate & Energy at the World Resources Institute, Xiaoliang worked with policymakers, business, and other decision-makers to support China’s 2030 & 2060 climate targets. In 2020, he led the development of WRI’s flagship report titled: Accelerating the Net-Zero Transition: Strategic Action for China’s 14th Five-Year Plan, demonstrating that the country can achieve its vision for carbon neutrality while generating tremendous net economic and social benefits in 2050. Xiaoliang was also actively involved in the US-China Clean Energy Research Center and the US-China Climate Change Working Group and was a visiting researcher in KAPSARC in Saudi Arabia. In 2013, Xiaoliang contributed to China’s very first National Assessment Report on CO2 Utilization Technologies organized by ACCA21.

Jarad Daniels, the Institute’s Chief Executive Officer, commented on the appointment of Dr. Yang: “We are excited to have such a well-respected expert on CCS and climate change as Xiaoliang on board, at a critical time for CCS and climate change action in China. CCS is an essential solution for China to realize its carbon peak and carbon neutrality goal. We look forward to Xiaoliang and our Beijing team expanding our partnership with various government ministries, businesses and academics in China to accelerate CCS deployment.”

Commenting on his appointment, Xiaoliang said: “Watching the highs and lows of CCUS over the last ten years, I am convinced that the time for CCUS has arrived. The Global CCS Institute is uniquely positioned to play a more essential role in the future global CCUS development. I am honored to be part of this journey.”

Dr. Xiaoliang Yang will be based in Beijing. As of March 21, he can be reached at xiaoliang.yang@globalccsinstitute.com.

Global CCS Institute Announces Appointment of Head of MENA Region
Global CCS Institute Announces Appointment of Head of MENA Region

16th December 2021

Abu Dhabi, UAE – The Global CCS Institute is pleased to announce the appointment of Dr. Mohammad Abu Zahra as Head of Middle East/North Africa (MENA) Region. Dr. Abu Zahra will join the Institute on January 17, 2022, and will be based in Abu Dhabi, UAE.

Dr. Abu Zahra has deep expertise in CCS developed through nearly 20 years of academic, research and business experience.  He was most recently professor of chemical engineering and the leader of the CO2 capture research activities at Khalifa University of Science and Technology in Abu Dhabi.  He has also held academic and technical leadership positions at Masdar Institute of Science and Technology in Abu Dhabi, the International Energy Agency Greenhouse Gas R&D Programme (IEAGHG) in Cheltenham, UK, and at the Netherlands Organization for Applied Scientific Research (TNO) in Delft, Netherlands.

Jeff Erikson, General Manager for Client Engagement at the Global CCS Institute, commented on the appointment of Dr. Abu Zahra: “We are excited to have such a distinguished and accomplished expert as Mohammad leading our work in the MENA region.  We are looking forward to partnering with governments and businesses in the region to accelerate the deployment of CCS, and our presence on the ground will enable much closer working relationships with key CCS stakeholders. CCS is an essential tool to support the transition to a net-zero economy, and the MENA region is poised for significant investment in CCS.”

Commenting on his appointment, Dr. Abu Zahra said: “I am excited to begin my work with the Global CCS Institute to accelerate deployment of CCS in the MENA region. CCS is an important technological option for emissions reduction in the region. The Institute’s expertise cuts across numerous disciplines, and I am looking forward to working with my new colleagues from around the world to apply our capabilities to address the CCS challenges and opportunities that exist here.”

The Institute’s office will be located in the Masdar Free Zone. After January 17 Dr. Abu Zahra may be reached at mohammad.abuzahra@globalccsinstitute.com, or [+971(0)45230880].

 

Response to the Announcement of the Low Emissions Technology Commercialisation Fund
Response to the Announcement of the Low Emissions Technology Commercialisation Fund

10th November 2021

The Australian Federal Government has announced it will establish a $1 billion technology fund to develop low-emissions technologies. The fund will be administered by the Clean Energy Finance Corporation (CEFC) and seek to attract half of the funding from the private sector, allowing the CEFC to invest in new areas including carbon capture and storage (CCS).

The Global CCS Institute’s General Manager – Commercial, Alex Zapantis, said CCS was one of the climate solutions essential to reaching net-zero by 2050.

“CCS is pivotal to our global response to climate change, is commercially available today and is well placed to strengthen our economy and support jobs. We need all climate mitigation solutions, across a broad range of industries – the announcement of a new funding mechanism is timely,” said Mr Zapantis.

“Our recent Global Status Report highlights the momentum surrounding CCS. Over the last year, we’ve seen the number of facilities operating or in development around the world almost double. CCS is very real and happening now.”

“CCS applications are diversifying, with deployment emerging across hydrogen, steel, chemicals and fertilisers, and cement. More than that, negative emissions technologies including direct air capture will be critical in removing CO2 already in the atmosphere.”

“The costs for deployment have fallen over the past decade and will continue to fall. Criticisms of CCS as failure or too expensive are outdated, out-of-touch and endanger real emissions reductions opportunities.”

“While we welcome the potential funding for CCS and other abatement solutions, net-zero and necessary private sector investment will be underpinned by durable policy with clear short- and medium-term targets.”

“CCS is necessary, alongside all other abatement options, to drive emissions at lowest cost and risk. If you take anything off the table, it gets harder. CCS also enables a just transition for communities that currently rely upon emissions-intense industries for employment, as we accelerate towards net-zero emissions.”

 

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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@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

Media Advisory | COP 26 (Blue Zone) | Rapid Scale up of Carbon Capture and Storage Technology Needed to Reach International Climate Targets
Media Advisory | COP 26 (Blue Zone) | Rapid Scale up of Carbon Capture and Storage Technology Needed to Reach International Climate Targets

9th November 2021

Media Advisory

9 November 2021 – In a recent climate report released by international think tank the Global CCS Institute, carbon capture and storage (CCS) projects globally has increased by almost one third in the last year alone. Despite this, a rapid scale up of CCS is still needed, particularly if 2050 climate targets are to be met. To reach net-zero by mid-century, CCS will be responsible for mitigating 15% of the world’s emissions.

Live at COP 26, join the Global CCS Institute as it hosts discussions with the IPCC, IEA Greenhouse Gas R&D Programme, Bellona Europa and Carbon Capture an Storage Association on the role carbon capture and storage will play in the ongoing green transition.

What: COP 26 Side Event | Reaching Climate Neutrality: Carbon Capture and Storage in the Green Transition

Where: COP 26 Conference (Blue Zone) -  IETA Business Hub Pavilion, Zone D, Hall 5

When: 9 November, 2021 | 10:30 GMT

Who: Speakers will include:

  • Professor Jim Skea – IPCC Co-Chair of Working Group III
  • Tim Dixon – Director and General Manager, IEA Greenhouse Gas R&D Programme
  • Ruth Herbert – CEO, Carbon Capture and Storage Association (CCSA)
  • Jonas Helseth – Director, Bellona Europa
  • Guloren Turan – General Manager of Advocacy and Communications, Global CCS Institute (moderator)

Please be advised that seating in this event space is limited. If you’re interested in attending, we recommend you reach out to our media contact and request reserved seating.

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Media Contact: Ruth Gebremedhin: +44 7950 278 261 ruth.gebremedhin@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

Global CCS Institute Welcomes Australian Net Zero Commitment 
Global CCS Institute Welcomes Australian Net Zero Commitment 

26th October 2021

The Global CCS Institute has welcomed the announcement of a net-zero 2050 commitment from the Australian Federal Government. The announcement includes a plan to reach the target, defining a role for carbon capture and storage (CCS) in delivering emissions reductions. 

The Institute’s CEO, Jarad Daniels, said the commitment and plan to achieve net-zero emissions realigns Australia with global climate ambition and opens the opportunity for the nation to be a clean energy leader. 

“A commitment to achieve net-zero emissions by 2050 is encouraging from one of the world’s biggest energy exporters. Aligning with the global economy on climate establishes an important framework for reducing emissions and investing in clean energy and climate mitigation,” said Mr Daniels. 

“CCS will play a vital role in our global response to climate change – the technology suite is commercially available and is well placed to decarbonise a broad range of sectors, supporting existing jobs and creating new ones.” 

“The Government’s plan has reaffirmed that regional Australia stands to gain substantially from the energy transition through the development of new industries like hydrogen and the decarbonisation of existing industries such as natural gas, cement, chemicals and steel through CCS.” 

The Institute’s General Manager – Commercial, Alex Zapantis, commended the commitment, saying interim targets before 2050 would provide further policy confidence for investors. 

“Identifying a role for CCS in achieving net-zero, following recent funding announcements and the inclusion of CCS under the Emissions Reduction Fund, is timely and very welcome. In reducing emissions, CCS will play a role alongside renewables, energy efficiency measures, nature-based solutions and other clean energy and climate mitigation solutions. 

“Investment in CCS and other climate mitigation and clean energy technologies, including necessary supporting infrastructure, will be delivered in the critical timeframe to 2050 as a result of policy confidence guided by clear short- and medium-term targets. A clearer plan for decarbonisation with interim targets will be useful and necessary,” said Zapantis. 

”We look forward to Australia’s engagement in COP 26 in Glasgow.” 

The Institute recently released the Global Status of CCS report, highlighting substantial global growth across the sector in 2021. 

 

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Matt Steyn Senior Advocacy and Communications Adviser (Asia Pacific): +61 (0)405 018 007 matt.steyn@globalccsinstitue.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. 

Carbon Capture and Storage Gathers Momentum in Response to Rising Climate Ambition
Carbon Capture and Storage Gathers Momentum in Response to Rising Climate Ambition

12th October 2021

A new climate report released by the Global CCS Institute has highlighted the continuing growth of carbon capture and storage (CCS) worldwide. In 2021, the total capacity of the CCS project-pipeline increased for the fourth year in a row, by almost one third over the previous year. CCS is recognised by experts as an essential element of achieving the world's climate change goals.

CEO of the Global CCS Institute, Jarad Daniels, said the dramatic increase in projects in development reinforces the critical role of CCS in reaching global climate goals within the short timeframe required.

"CCS is absolutely critical to achieving net zero emissions and we anticipate growth in the sector to continue as climate ambition is increasingly matched with action," said Mr. Daniels.

"Although much more is required, commitment to climate action is progressing steadily and we're seeing growing interest and support for CCS. As we accelerate toward net zero emissions by mid-century and establish clearer interim targets, CCS will be integral to the decarbonisation of energy, industrial sectors such as cement, fertilisers, and chemicals, and will open new opportunities in areas including clean hydrogen and carbon dioxide removal."

The flagship Global Status of CCS report provides a global snapshot of CCS progress around the world. The 2021 report shows:

  • Of the 135 commercial CCS facilities in the project pipeline, 27 are fully operating, 4 are under construction, and 102 are under development.
  • 71 new CCS facilities were added to the project pipeline in 2021.
  • As of September, the CO2 capture capacity of all CCS facilities under development has grown from 75 million tonnes per annum (Mtpa) to 111 Mtpa – a 48 per cent increase over 2020.
  • North America continues to be the global front runner in CCS deployment, with over 40 new CCS projects announced in 2021. This can largely be attributed to CCS tax credits, stronger climate commitments – including the US re-joining the Paris Agreement – and anticipated rise in demand for low-carbon energy products.
  • CCS projects are becoming increasingly diverse, with facilities in development in a broad range of sectors including power generation, liquefied natural gas (LNG), cement, steel, waste-to-energy, direct air capture and storage and hydrogen production.
  • Several new countries now have commercial CCS facilities under development, including BelgiumDenmarkHungaryIndonesiaItalyMalaysia, and Sweden.
  • CCS networks – in which multiple emissions sources share transport and storage infrastructure – are increasingly becoming the dominant operating model, incorporating ever-larger volumes of CO2.

"The momentum we have seen over the last year towards CCS is considerable, however more is required if we are to reach climate goals", said Guloren Turan, General Manager of Advocacy and Communication at the Global CCS Institute.

"The International Energy Agency's Sustainable Development Scenario foresees 15% of emissions reductions to come from CCS, requiring a one-hundred-fold increase in the capacity of operational facilities by 2050.  While the acceleration of CCS adoption is promising, more urgency in the deployment of the technology is needed to reach 2050 climate goals.", added Turan.

The release of the Global Status of CCS report comes ahead of COP 26, where government leaders and observer organisations – including the Global CCS Institute – gather to assess progress on climate commitments and encourage greater ambition and action.

Released annually, the Status Report is published by the Global CCS Institute, an international think tank working to accelerate the deployment of CCS, a vital technology to tackle climate change. The full 2021 report can be found here.

 

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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Ruth Gebremedhin (UK and European Region): +44 7950 278 261 ruth.gebremedhin@globalccsinstitute.com

Matt Bright (North America): +1 614 354 5587 matt.bright@globalccsinstitute.com

Matt Steyn (Asia Pacific): +61 (0)405 018 007 matt.steyn@globalccsinstitue.com

media@globalccsinstitute.com

Institute Unveils Global CCS Database
Institute Unveils Global CCS Database

6th October 2021

MELBOURNE – The Global CCS Institute has today released an updated database which now tracks carbon capture and storage (CCS) networks as well as projects, storage and regulations around the world. First released in 2018, the CO2RE database provides reliable data, intelligence and information on CCS and its vital role in achieving global climate targets.

General Manager – Commercial, Alex Zapantis, said the CO2RE database was proving increasingly useful to a broad group of professionals as CCS deployment continues to accelerate.

“In line with increasing climate ambition from countries and companies, the CCS project pipeline is experiencing unprecedented year-on-year growth. New projects and networks have been announced almost weekly in 2021,” said Mr Zapantis.

CO2RE’s CCS Readiness Index tracks a country’s requirement for CCS, its policy, law, regulation and storage resources development, identifying nations which are leading the creation of enabling environments for commercial CCS deployment.

“We’re seeing significant positive movement in the CCS readiness scores, particularly across Europe, which is largely due to a higher carbon price, ambitious emission targets and numerous supportive policy developments,” Mr Zapantis noted.

“The policy landscape for climate and CCS is changing quickly, making CO2RE’s accessible information and analysis valuable for project developer, government and investor decision-making.”

Principal Consultant for CCS Technology, Dr David Kearns, highlighted the ongoing development and beta release of CCS networks functionality within CO2RE, available exclusively to Institute members.

“CCS networks are leveraging economies of scale and significantly reducing project costs, removing barriers to entry for small-scale emitters. Networks may be pivotal to deep decarbonisation across a broad array of emitting industries including cement, chemicals and oil refineries amongst others. Networks like those emerging in the US and Europe will also be key to unlocking low-cost hydrogen production, driving job creation and economic growth, particularly in regional areas,” Dr Kearns said.

While aspects of the CO2RE database are provided exclusively to members, some information is publicly available. To access the database visit co2re.co

 

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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@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

Institute Welcomes Inclusion of CCS Under the Australian Emissions Reduction Fund
Institute Welcomes Inclusion of CCS Under the Australian Emissions Reduction Fund

1st October 2021

1 October 2021, – The Global CCS Institute has welcomed the inclusion of carbon capture and storage (CCS) under the Emissions Reduction Fund (ERF), announced today by the Australian Government. Inclusion under the ERF will provide a financial incentive for carbon captured and stored, an important factor in creating an enabling investment environment.

The Institute’s General Manager – Commercial, Alex Zapantis, said inclusion in the ERF was an important step in recognising the relevance of CCS amongst other low emssions technologies and delivering its full abatement opportunities and social and economic value.

“CCS is pivotal to our global response to climate change, is commercially available today and is well placed to strengthen our economy and support jobs. We need all climate mitigation solutions, across a broad range of industries - inclusion under the ERF is significant and timely.”

“A key barrier to investment in CCS has been the lack of a price signal placing a value on CO2. As global climate ambition continues to be backed by action, this is one of several necessary mechanisms which will drive private sector investment.”

“CCS will be critical to decarbonisation across a range of sectors, including oil and gas, cement, steel, fertilisers and chemicals and will play an important role in Australia’s growth as a global hydrogen exporter. Put simply, CCS can help industries transform as we head toward net zero, sustaining local economies and creating jobs in new sectors.”

Mr Zapantis said that inclusion under the ERF was an important step in setting long-term policy, creating an enabling investment environment and deploying CCS at scale to deliver climate benefits.

“As we will highlight in our upcoming Global Status of CCS Report, the technology is experiencing enormous growth around the world. In other jurisdictions, like the United States, financial incentives have supported the rapid and at-scale deployment of CCS. Inclusion under the ERF reaffirms that Australia is positioned to be a leader in CCS and climate more broadly.”

The Australian Government has recently committed $250 million to developing CCS hubs and $275 million for hydrogen. The Clean Energy Regulator is seeking consultation on including other carbon capture technologies under the ERF, including utilisation and direct air capture, both of which feature prominently in net zero projections from the IPCC and the International Energy Agency.

 

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Matt Steyn (Melbourne): +61 405 018 007 matt.steyn@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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