Abstract
Introduction
The scientific evidence for climate change is abundant and irrefutable, as is
the role that carbon capture and storage (CCS) technology can play in reducing
emission levels. Despite calls to the contrary, CCS does not present
insurmountable technical barriers. Only issues surrounding its commercial
viability and the lack of credible policy incentives stand in the way of its
wide-scale deployment.
Scope of this research
- A critique of the regulatory and policy framework proposed by the European
Commission to drive the deployment of CCS across new fossil-fuel plants.
- Analysis of the wider EU ' green' policy landscape, how it lacks
credibility and provides inadequate regulatory support for CCS.
- Reasons why the green ' New Deal' is a necessary but insufficient condition
to drive a mass market transition to CCS.
- An objective review of the perceived limitations of CCS and the type of
adaptive regulatory framework required to secure CCS' commercial deployment.
Research and analysis highlights
Despite record growth in renewables, global emission levels will rise as
fossil fuel power generation continue to dominate. CCS is the only technology
option currently available that could allow abundant, flexible and entrenched
fossil fuels to continue to be used for electricity generation without adding
to the damaging effects of climate change.
The potential for CCS is undeniable and stakeholders are competing to take the
technological lead. However, the costs and risks of CCS - made more apparent
by the lack of regulatory framework - stand in the way of its widespread
deployment. It is unlikely that CCS will make a credible contribution without
strong legislative and regulatory change.
The potential for CCS is highest in Poland, Czech Republic, Denmark and
Greece, based on annual levels of coal-powered generation. The benefits of CCS
outweigh the liabilities, however, to implement CCS safely and economically
requires an adaptive regulatory framework encompassing safety, investment,
operation and responsibility elements.
Key reasons to purchase this research
- Gain knowledge of the various stages of the CCS value chain and the role
that the technology can play in the fight against climate change.
- Understand the reasons why the proposed regulatory framework is plagued by
several key limitations which will delay the introduction of CCS.
- Benchmark the relative appeal of CCS across the 27 EU Member States based
on their respective annual coal-powered generation levels.
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