Technology Investment Roadmap signals core role for CCS in emissions reductions
21st May 2020
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 firstname.lastname@example.org
Lee Beck (Washington DC): +1 202-677-9053 email@example.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.