Policy priorities to incentivise large scale deployment of CCS

Topic(s): Business cases, Carbon capture, Policy

Carbon capture and storage (CCS) is essential to achieving climate change mitigation targets. It is the only feasible technology that can deliver deep emissions reductions in many industrial processes that are vital to the global economy, such as steel, cement and chemicals production. In combination with bioenergy used for power generation or biofuel production, it provides one of the few technologies that can deliver negative emissions at scale; unambiguously required to limit temperature rises to meet the Paris climate targets.

While the critical role of CCS has been demonstrated in many reports, the policies in place today are insufficient to ensure CCS deployment scales up at the rate required. This paper seeks to address the current policy gap by describing priorities for policymakers to support the transition from current to future rates of deployment of CCS.

The Institute's report explores how to stimulate investment in CCS. The paper also identifies concrete policy actions and reviews the progress achieved until now by identifying the policies and commercial conditions that have enabled investment in the 18 large-scale CCS facilities currently in operation, and the additional five that are under construction.

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