This is the first time that the Global CCS Institute receives funding from a source other than the Australian Government, which founded the Institute in 2009.

This decision is based on the great role developing countries can play in the CCS deployment. The media release says that ”by 2050, some 3400 CCS projects need to be operational in order to reduce emissions by the required level, according to the International Energy Agency. More than half of these projects will need to be in developing countries.”

The money granted will be dedicated to the Clean Energy Ministerial Carbon Capture Use and Storage Action Group (of which Bellona is a member) to achieve several initiatives which address key technology features as much as financial and political issues. This includes the mapping and the assessment of capacity for CO2 storage in developing countries, a study on CO2 reuse; sharing of best practice and experience with financial  support mechanism and policies; and case studies on creating the best enabling environment for CCS deployment.

Bellona welcomes this decision as a concrete example of what should be done in terms of knowledge sharing, in order to give greater confidence to invest and to feed into research programs to develop next generation technologies.

More information and the media release are available here.