The Global CCS Institute has today launched a new report exploring how to stimulate investment in carbon capture and storage (CCS).
The institute’s report reviews the progress achieved until now and identifies the policies and commercial conditions that enabled investment in the 18 large-scale CCS facilities currently in operation, and the additional five that are under construction.
The report also identifies overarching barriers to CCS deployment including market and information failures, which the recent projects had to overcome.
Based on an assessment of existing CCS projects, the Global CCS Institute found that several of these facilities have common features, most built with grant support and relying on revenue from enhanced oil recovery. Others, in particular those in the United States, relied on tax credits, or the regulation of carbon emissions, in the case of the Gorgon project in Australia.
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