News
Publish date: August 13, 2010
Written by: Ilias Vazaios
News
The presidential taskforce underlines that technically CCS is feasible given that there are ‘no insurmountable technical, legal, institutional or other barriers to the deployment of this technology’. Yet what is lacking at the moment, are the necessary incentives to instigate private investment for the deployment of the technology.
Without a carbon price in place that will force companies to pay for their carbon emissions, CCS cannot be considered a realistic possibility according to the report. As the latest effort of a string of climate change bills was shelved a few weeks ago, the renewal of efforts to pass comprehensive climate legislation that includes a cap-and-trade system appears as vital to the US if the country wants to remain competitive in a low-carbon environment.
A price on carbon should be complemented with substantial added government investment according to the task force. The US seems to be faring better in the domain of public funding, as the federal government is supporting up to 10 CCS projects to operate by 2016, using $3.4 billion from the economic stimulus package.
Access the full report of the ‘Task Force on CCS’ here
Recent attacks on Ukraine’s Zaporizhzhia nuclear power plant "mark the beginning of a new and gravely dangerous front of the war," the UN atomic agency's director general said last week.
After years of inaction, Germany is working on its Carbon Management Strategy to resolve how CCS can play a role in climate action in industry. At the end of February, the Federal Ministry for Economic Affairs and Climate Action published first key points and a proposal to amend the law Kohlenstoffdioxid Speicherungsgesetz (KSpG). Bellona Deutschland, who was actively involved in the previous stakeholder dialogue submitted a statement in the association hearing.
In the midst of a global discussion on whether natural gas should be used as a transitional fuel and whether emissions from its extraction, production, transport and use are significantly less than those from other fossil fuels, Russia has developed ambitious plans to increase its own production of liquified natural gas (LNG) in the Arctic – a region with 75% of proven gas reserves in Russia – to raise its share in the international gas trade.
In this news digest, we monitor events that impact the environment in the Russian Arctic. Our main focus lies in identifying the factors that contribute to pollution risks and climate change.