The scientific evidence for climate change is abundant and irrefutable, as is the role that carbon capture and storage (CCS) technology can play in reducing emission levels. Despite calls to the contrary, CCS does not present insurmountable technical barriers. Only issues surrounding its commercial viability and the lack of credible policy incentives stand in the way of its wide-scale deployment.
Scope
- A critique of the regulatory and policy framework proposed by the European Commission to drive the deployment of CCS across new fossil-fuel plants.
- Analysis of the wider EU 'green' policy landscape, how it lacks credibility and provides inadequate regulatory support for CCS.
- Reasons why the green 'New Deal' is a necessary but insufficient condition to drive a mass market transition to CCS.
- An objective review of the perceived limitations of CCS and the type of adaptive regulatory framework required to secure CCS' commercial deployment.
Highlights
Despite record growth in renewables, global emission levels will rise as fossil fuel power generation continue to dominate. CCS is the only technology option currently available that could allow abundant, flexible and entrenched fossil fuels to continue to be used for electricity generation without adding to the damaging effects of climate change.
The potential for CCS is undeniable and stakeholders are competing to take the technological lead. However, the costs and risks of CCS - made more apparent by the lack of regulatory framework - stand in the way of its widespread deployment. It is unlikely that CCS will make a credible contribution without strong legislative and regulatory change.
The potential for CCS is highest in Poland, Czech Republic, Denmark and Greece, based on annual levels of coal-powered generation. The benefits of CCS outweigh the liabilities, however, to implement CCS safely and economically requires an adaptive regulatory framework encompassing safety, investment, operation and responsibility elements.
Reasons to Purchase
- Gain knowledge of the various stages of the CCS value chain and the role that the technology can play in the fight against climate change.
- Understand the reasons why the proposed regulatory framework is plagued by several key limitations which will delay the introduction of CCS.
- Benchmark the relative appeal of CCS across the 27 EU Member States based on their respective annual coal-powered generation levels.
View Table of ContentsPages: 23
Publication Date: April 2009
Publisher: Datamonitor
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