Financing BECCS in developing countries
11th February 2019
Bioenergy with carbon capture and storage (BECCS) is a promising class of technologies for carbon dioxide (CO2) removal and consists of the capture and permanent geological storage of CO2 stemming from biomass transformation or combustion. Several industrial sectors can implement this technology, including the biofuel sector which is predominantly made up of bioethanol production. Bioethanol is one of the few renewable alternatives to oil and gas-based liquid fuel, with which it can be easily blended to be used as a transportation fuel.
As countries seek to decarbonise transport, demand for bioethanol is set to grow globally. By integrating CCS into the production process for bioethanol, negative emissions can be created. It is forecast that a significant proportion of the world’s bioethanol production will come from developing countries (International Energy Agency, 2018).
This brief focuses on how the production of bioethanol with CCS can be supported by climate finance providers, and the pivotal role Brazil can play in facilitating this process.