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Submission to the United Nations Framework Convention on Climate Change (UNFCCC) Subsidiary Body for Scientific and Technical Advice (SBSTA): (FCCC/AWGLCA/2011/CP.17 [paragraphs 79 to 86]) – elaboration of the modalities and procedures for new market base

26th March 2012

Topic(s): Carbon capture use and storage (CCUS), Policy law and regulation

This submission focuses on the specific needs of carbon dioxide capture and storage (CCS) technologies, especially in light of the UNFCCC's acceptance of CCS as an eligible project level activity in the Clean Development Mechanism (CDM) (Decision 7/CMP.6) and recent endorsement by the CMP 7 of the modalities and procedures supporting CCS projects in the CDM (FCCC/KP/CMP/2011/L.4).

The Global CCS Institute strongly welcomes the above decisions to institutionalise CCS in the CDM, and believes that its inclusion will greatly assist the delivery of the UNFCCC's objective of stabilising human-induced global emissions at levels that may avoid the dangerous impacts of climate change; as well as provide for a practical deployment of CCS in both developing and developed countries alike by institutionalising the rules that reward related credible abatement outcomes.

In this submission, the Institute offers its views on:

1. the role of CCS as a global mitigation technology;
2. how market based mechanisms can assist the deployment of CCS;
3. general lessons learnt from carbon markets;
4. how NMBMs might interact with existing institutional arrangements; and
5. elaboration of standards for a framework to accommodate NMBMs.

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Submission to the United Nations Framework Convention on Climate Change (UNFCCC) Subsidiary Body for Scientific and Technical Advice (SBSTA): (FCCC/AWGLCA/2011/CP.17 [paragraphs 79 to 86]) – elaboration of the modalities and procedures for new market base

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