The energy ministers were gathered in the second Clean Energy Ministerial. Australia and the UK chaired the Carbon Capture, Use and Storage Action Group, which forwarded several measures that were adopted by the other participants.
– There can be no solution to climate change and energy security globally without carbon capture and storage. Deployment of the technology is tantalisingly close, but it won’t happen at commercial scale without concerted efforts by governments around the world to address legal, financial and technical barriers, said UK’s Energy and Climate Change Secretary Chris Huhne, according to Carbon Capture Journal.
Financing commitment needed
Paal Frisvold, Chairman of Bellona Europa, led the working group for Strategic Development of CCS for the Action Group. He is pleased that ministers acknowledge CCS as a vital tool to combat climate change.
– We are very pleased to see that world energy ministers acknowledge that we are going towards a carbon constrained world where CCS deployment will be necessary, says Frisvold.
However, governments need to commit to funding in order for projects to be realised.
– Ministers also have to commit to funding concrete demonstration projects and open a discussion about capturing and storing CO2 from all fossil energy sources. Until this is brought to the table, few will make decisions to invest. The power and energy intensive industries need a clear message from governments, much clearer than what was agreed upon in Abu Dhabi, says Paal Frisvold.
Among the measures adopted by the ministers were:
– Advance policies that address the financial gap and risks associated with early-mover carbon capture and storage (CCS) projects;
– Identify and advance appropriate funding mechanisms to support the demonstration of large-scale CCS projects in developing economies;
– Advance the development of legal and regulatory frameworks for CCS;
– Promote the importance to global CCS deployment of ratifying key international marine treaty amendments;
– Support and encourage the development of best practice knowledge-sharing from early mover projects, in particular those with public funding;
– Review key gaps in storage data coverage and knowledge including capacity assessment; and