Carbon Capture and Storage (CCS)
Carbon Capture and Storage (CCS) involves capturing carbon dioxide (CO2), then compressing, transporting and storing it in deep geologic formations. These include depleted oil and gas fields or saline formations, able to hold the gas for indefinite periods. While CCS can be applied to different forms of fossil fuels, coal is the most carbon intensive and the primary source of global power generation.
- In the US, coal accounts for 50% of electricity generation
- In China it accounts for about 70%
- In Australia it accounts for about 80%
- In India about 50%
- In EU about 30% of electricity is generated from coal
CCS needs to reduce 20% of the total greenhouse gas (GHG) emissions by 2050 to cost-effectively stabilize GHG emissions to an acceptable level. The costs for achieving climate stabilization in 2050 without CCS are at least 70% higher (IEA 2009).
The urgency and scale of CCS required to limit CO2 must be pursued more assertively. Industrial scale demonstration plants must be constructed now, so we worked with our partners to advance CCS demonstration in key countries.
Links to databases of Global CCS projects:
- MIT Interactive Map of Global CCS Projects
- IEA Greenhouse Gas CCS RD&D Projects Database
- Scottish Centre for Carbon Storage: Interactive Map showing commercially significant storage sites
- U.S. EPA Draft Underground Geologic Sequestration Regulations
- The European Union Geologic CO2 Storage Directive:
- The Australian Regulatory Guiding Principles for CCS
- Strategic Analysis of Global Status of Carbon Capture and Storage , A Series of Publications by the Global Carbon Capture and Storage Institute (GCCSI), May 2009. Click here.
- International Energy Agency Carbon Capture and Storage Technology Road map, 2009. Click here.
- Carbon Capture and Storage Assessing the Economics, A McKinsey Report, September 2008. Click here.
- WRI Guidelines for Carbon Capture Transport and Storage, October 2008. Click here.
- MIT Future of coal, 2007. Click here.
- IPCC CCS Special Report on CCS, 2005. Click here.
How we're doing it
Reports from The Climate Group
CCS: Towards Market Transformation in China
In this briefing paper, drawn from the Chinese report, CCS: Towards Market Transformation in China, we examine different CCS implementation strategies, with a particular focus on China. We discuss current policies, regulation and financing, within China and also internationally. In the preparation of the report we interviewed a wide range of Chinese stakeholders, to gain an insight into the benefits and challenges of CCS.
We found that the growth of the CCS industry is dependent on several factors, including: the cost of the process, the demand for the technology, effective regulation and also private sector and local and international government support.
Carbon Capture and Storage: Mobilizing Private Sector Finance
The finance sector appears ready to invest in the global deployment of CCS subject to three prerequisites, according to a report funded by the Global CCS Institute and carried out by The Climate Group and Ecofin Research Foundation.
The report, 'Carbon Capture and Storage: Mobilising Private Sector Finance,' provides insight into the views of private sector capital providers on financing first generation industrial scale CCS projects. It canvassed more than 30 private sector capital providers to understand their view on the risks and returns of a hypothetical post-combustion new build, coal-fired power station.
What We’re Doing
The Climate Group worked with the Global CCS Institute to accelerate the demonstration of CCS technology in key coal consuming countries including China, India, US, Europe and Australia.
We addressed the financial barriers, building capacity in developing countries including China and India, and increasing the profile for CCS as a key climate change mitigation strategy among the portfolio of solutions.