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Diverse support for carbon capture and storage picks up global speed

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World Coal,


Over the past six months, the Global CCS Institute has welcomed 12 new members from the industrial, financial and energy sectors signalling 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 CO2 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.

Read the article online at: https://www.worldcoal.com/coal/04022020/diverse-support-for-carbon-capture-and-storage-picks-up-global-speed/

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