The pace of carbon capture and storage (CCS) development needs to accelerate, if the climate change targets agreed in Paris last year are to be met, according to the latest report from the Global CCS Institute.
Speaking at the report’s launch in Marrakech, where COP22 is currently taking place, CEO of the Global CCS Institute, Brad Page, said the current level of carbon capture is “dwarfed by the amount of CCS deployment required over the next 25 years under the International Energy Agency’s 2 degrees Celsius scenario”.
According to Page, to limit global temperature rise to 2°C, the world would need to capture almost 4 billion tpy of CO2 by 2040 – mostly in developing and emerging economies. Currently, global carbon capture capacity in operation or under construction is around 40 million tpy.
"The technology still depends on more widespread adoption. The vital role attached to CCS in global models in the transition to a low-carbon economy has not translated broadly enough into policy support at national levels,” said Page. "The timeline of forward activities is critical. The number of large-scale CCS facilities must rise substantially to help meet the climate targets and aspirations of the Paris Agreement.”
To speed up development of CCS, the Global CCS Institute called for ‘policy parity’ for the technology – particularly the provision of “equitable consideration, recognition and support for CCS alongside other low-carbon technologies.”
“For CCS, this means the design and implementation of support measures tailored specifically to the technology and its lifecycle stage,” Page concluded. "Future efforts need to focus on identifying incentive mechanisms that tackle the complexity of risks and act as economic multipliers to improve the conditions for CCS uptake."
Read the article online at: https://www.worldcoal.com/power/16112016/ccs-development-needs-to-happen-faster/