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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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Global CCS Institute Statement on the European Climate Law
Global CCS Institute Statement on the European Climate Law

4th March 2020

The Global CCS Institute welcomes Europe’s first-ever Climate Law proposal published today by the European Commission to enshrine the EU climate neutrality objective by 2050 at the latest in EU legislation.  The Institute applauds Europe’s climate ambition and the vision put forward by the European Green Deal.

The EU 2050 climate-neutrality objective can only be achieved by reducing and avoiding emissions at existing sources as well as enhancing emission removal. Therefore, a wide portfolio of climate mitigation solutions and technologies, including carbon capture and storage (CCS), will be needed to deliver on this ambition.

CCS technologies and projects will have an important role to play to deliver large-scale carbon removal and address emissions in the most challenging sectors and at large-scale industrial sources. This set of technologies will be essential to deliver the clean energy transition for key industrial sectors and delivering net-zero and in the future negative emissions. It will also be a crucial technology to ensure a just transition for communities and industry.

Speaking about the announcement, Guloren Turan, General-Manager for Advocacy at the Global CCS Institute said:

“The EU’s proposed climate law is an important step forward in EU’s climate policy. CCS has an important role as an emissions reduction and carbon removal technology. The technology can help drive Europe towards its climate neutrality target. With the proposed target, incentivising emission removal becomes increasingly important. Therefore, there is a need to establish strong policies and measures at the European level to advance both natural and technological carbon removal.”

There are currently two large-scale CCS projects operating in Europe and an additional four in various stages of development. The next wave of European CCS projects touches a number of key industries of strategic importance for Europe’s economy and aim to use shared CO2 transport and storage infrastructure. The development of this infrastructure will be key to decarbonise a multitude of industrial sectors as well as bring the technology costs down.

The Commission’s proposed law defines the trajectory for greenhouse emission gas reductions at the European level with a review every five years.  The Climate Law will be presented to Environment Ministers tomorrow.

More about European Climate Law

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

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DC Forum on CCS: Accelerating the next wave of carbon capture and storage
DC Forum on CCS: Accelerating the next wave of carbon capture and storage

3rd March 2020

Washington, DC, USA – Climate and clean energy experts convened in Washington, DC for the ninth annual Forum on carbon capture and storage (CCS) hosted by the Global CCS Institute, a think tank backed by governments and businesses. The United States leads the world’s deployment of large-scale CCS facilities and has enacted the most progressive CCS-specific incentive globally with the 45Q tax credits. Now, the focus is on getting steel in the ground, furthering innovation, and building on this pioneering policy to deliver a comprehensive large-scale deployment framework.  

“The United States has seen significant growth in CCS facilities in planning due to positive policy developments on the state and federal level. Now we need to focus on realizing projects and furthering innovation”, said Brad Page, CEO of the Global CCS Institute. 

The Global CCS Institute identifies and tracks large-scale CCS projects around the world. In late 2019, it added eight US facilities to its CO2RE CCS database. These facilities could boost carbon captured by an additional 20 million tonnes of CO2, according to the think tank’s analysis.  

“Despite a positive outlook in the US, still more must be done. Particularly from a global perspective, US leadership in CCS can bolster global efforts to reduce emissions as well as lead to cost reductions that will make it easier for other countries to access the technology. With a 100-fold scale-up necessary globally, the learnings from the US facilities will be crucial to accelerating the global deployment of CCS”, said Brad Page. 

“The IPCC has identified crucial roles for CCS in both reducing emissions and in carbon dioxide removal. Government, business, and the scientific community should work together to scale up deployment this coming decade to bring costs down and spur additional innovation, said Andrew Steer, CEO, World Resources Institute during his keynote remarks. 

At the forum, experts discussed three key areas to advance CCS deployment in North America including creating diverse support for the technologies and increased climate ambition, enabling access to geologic storage hubs and improving financing conditions. Innovators also presented new technologies aiming to innovate solutions across the carbon capture, utilization, and storage value chain.  

“Shell views carbon capture and storage (CCS) as a critical technology for society to meet the goals of the Paris Agreement. We are involved with a number of CCS projects, one of which being our large-scale Canadian CCS venture known as Quest, which has captured more than 4 million tonnes of COsince 2015.  We believe collaboration with both public and private stakeholders has played, and will continue to play, a significant role in the success of CCS,” said keynote speaker Jason Klein, VP US Energy Transition Strategy, Shell.  

Safe, secure geologic storage hubs which provide multiple industrial and energy-intensive facilities access to CO2 transport infrastructure are a key characteristic of the next wave of CCS facilities. Geologic storage hubs offer risk reductions and economies of scale, making it attractive for further participants to enter CCS projects. In fact, the Global CCS Institute added six facilities connected to CarbonSAFE, a DOE initiative aimed at developing storage sites able to store more than 50 million tonnes per annum of CO2.  

Financing conditions have also been a key barrier to CCS deployment in the past. Perceived and actual risk by banks made idifficult for facilities to secure affordable financing. However, in the US, interest from financial institutions is ramping up. Banks are becoming increasingly open to financing well-designed projects while policy levers, such as 45Q and the California Low Carbon Fuel Standard, have drawn financiers into the sector.  

At the Forum, participants also heard from a variety of technology, CO2 utilization, and direct air capture companies working to revolutionize the space. “With the pressing need for further innovation both on the technical side and with regards to business models, it is welcome that we are seeing more actors entering the space as climate ambition speeds up”, said Mr. Page.  

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Global CCS Institute Welcomes New Chair of the Board
Global CCS Institute Welcomes New Chair of the Board

3rd March 2020

Melbourne, Australia - The Global CCS Institute, an international think tank backed by governments, industry, financial institutions and academia, announced today the appointment of a new Chair of the Board.

Mr Philip Bainbridge, non-executive Chairman of the Papua New Guinea Sustainable Development Program and non-executive Director of Beach Energy, has been elected to succeed Mr Claude Mandil following his retirement as Chair of both the Board of Directors and the Board Selection Panel. Mr Bainbridge’s appointment is effective from 1st March 2020.

Mr Bainbridge previously served as Chairman of Sino Gas and Energy Holdings Ltd. He spent 23 years at BP Group in various senior management and leadership roles including petroleum engineering, development and commercial positions. From 2006 he worked at Oil Search initially as the Chief Operating Officer and then as the Executive General Manager LNG.

Mr Bainbridge was initially appointed as a Director of the Institute’s Board in February 2019.  Speaking on his recent appointment as Chairman, Mr Bainbridge said: “I believe that carbon capture and storage is a fundamental component in reducing emissions to mitigate climate change. The Institute has a strong global reputation as a centre of excellence and advocacy. I am honoured to be a part of the Institute and thank Claude Mandil and the Board for this opportunity.”

Brad Page, CEO of the Global CCS Institute said: “I would like to thank Mr Mandil for his significant contribution to the Institute during his tenure as Chairman of the Board. We are delighted to welcome Mr Bainbridge during this time of growth for the Institute. His experience and expertise will be a major benefit to the work of the Board and the Institute.”

In addition to the new Chair of the Board, Mr Bainbridge, the Institute’s Board of Directors includes:

  • David Hone, Group Climate Change Adviser, Shell International (United Kingdom);
  • Sumie Nakayama, Senior Advisor, Climate Change, J-POWER (Japan);
  • Eric Redman, Thunderbolt Clean Energy CEO (United States of America);
  • Cynthia Wang, Client Advisor, Bridgewater Associates (China);
  • Dr Fiona Wild, Vice President, Sustainability and Climate Change, BHP (Australia).

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Diverse support for Carbon Capture and Storage picks up speed globally
Diverse support for Carbon Capture and Storage picks up speed globally

29th January 2020

Over the past six months, the Global CCS Institute has welcomed 12 new members from the industrial, financial and energy sectors signaling strong renewed momentum for carbon capture and storage (CCS) globally. These organisations join a global network of leading corporations, energy and infrastructure companies, governments and research institutes united by a shared vision to accelerate the deployment of CCS, a vital technology to tackle climate change and deliver climate neutrality.

The continued growth of the Institute’s membership reflects the growing interest in CCS around the world in a wide number of industries and sectors. New members joining the Institute include:

Europe

  • BP, a global energy company with operations in Europe, North and South America, Australasia, Asia and Africa;
  • C-Capture, UK-based clean energy company and designer of chemical processes for carbon dioxide removal;
  • HeidelbergCement, one of the world's largest building materials companies;
  • HSBC, one of the world’s largest banking and financial services institutions;
  • Motor Oil Hellas, a petroleum refining and trading company based in Greece;

North America

  • Cemvita Factory, a US-based company and developer of a CO2 utilisation platform;
  • IPA Global, a leading capital projects advisory firm;
  • Wolf Midstream, a Canadian energy infrastructure company that has built and will operate the CO2 pipeline for the Alberta Carbon Trunk Line project;

Asia

  • China Petroleum Engineering Co., Ltd., a company based in Beijing specialising in engineering for the energy, manufacturing, and construction industries;
  • CNPC Research Institute of Safety and Environment Technology (RISE), the research institute of the China National Petroleum Corporation;
  • Dalmia Cement (Bharat) Ltd, a global cement manufacturer;

Australia

  • Woodside Energy, Australia’s largest natural gas producer and a pioneer of LNG in Australia.

The addition of these organisations further diversifies the Institute’s membership across geographies and industries.  The Institute now has 68 Members located across five continents.

In line with the progress of CCS deployment around the world, this wave of new members is a testament that a variety of stakeholders are recognising the important role of CCS in climate mitigation efforts. The Institute believes that together they have a powerful role to play in supporting the deployment of CCS by building and mobilising expertise, finance and knowledge.

Global CCS Institute CEO Brad Page said: “The Institute is thrilled to welcome its newest members, each leaders in their respective fields and industries. Over the past year, the pipeline of large-scale CCS facilities is continuing to grow due to sustained government support and more ambitious climate plans to address emissions in energy-intensive and hard-to-abate sectors. As environmental, social and governance considerations gain momentum and become an integral part of investment decision-making, CCS will also play an important role as companies and institutional investors assess and take steps to address climate-related risks and explore new opportunities to avoid physical and transition risks.”

This new wave of members brings HSBC, the first global commercial bank to join the Institute. The organisation is actively looking at the role of CCS in decarbonisation strategies across the energy and industrial sectors, in order to be at the forefront of financing the transition to a low-carbon economy. The Institute has also welcomed two cement manufacturers to its network, an industry looking at deploying CCS to cut carbon emissions in cement production.

The Institute believes that this growing membership brings the opportunity for increased global collaboration and growing knowledge-sharing opportunities which will help further CCS deployment around the world. The Institute works on behalf of its Members to build knowledge, shift the narrative and enable investment.

More information on the Institute’s work and membership here.  See a full list of the Institute's membership here.

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