COP27 and Carbon Capture & Storage (CCS)

The Global CCS Institute, which was at COP27 in Egypt as an observer, debater and promoter of carbon capture, has just released an excellent report, describing the main conclusions of the meeting from the CCS point of view, assessing both the transition towards net zero targets and international climate policies.

Regarding the second session of the Global Stocktake (GST) technical dialogue, discussions to clarify the role of CCS in the transformation of energy systems, in holistic and integrated approaches, the following topics were discussed:

• The United States discussed the role of CCS in its recent stimulus bill (Click to read more about it)

• Saudi Arabia, representing developing countries with similar interests (1), discussed the value of CCS within national health contexts and energy access (Click to read an article in our blog)

• Norway provided examples of ongoing CCS projects

• India discusses its future plans for CCS

• And other developing countries express limited (!) interest in CCS

On Article 6.4, creation of a supervised global carbon market, discussions will continue in 2023. And on Article 6.2, a workshop is scheduled to take place until April 30, 2023. Article 6.2. includes guidance related to tracking and recording ITMOs (Internationally Transferred Mitigation Outcomes), interoperability, international registration, centralized accounting and reporting platform, nomenclatures, database, review by technical experts, training, metrics, method to apply corresponding adjustments, and the digital standards.

According to the report, as CCS is increasingly featured in Nationally Determined Contributions (NDCs) of developing countries, the role of technology in achieving the Sustainable Development Goals (SDGs) will come to the fore. The COP 28 in Dubai is expected to result in further action on an international scale to accelerate the roll-out of CCS.

Click on the image below to download the full report (in English) authored by the Institute's Senior Policy Adviser on International Climate Change, Noora AlAmer.

(1) Algeria, Bangladesh, Bolivia, China, Cuba, Ecuador, Egypt, El Salvador, India, Indonesia, Iran, Iraq, Jordan, Kuwait, Malaysia, Mali, Nicaragua, Pakistan, Saudi Arabia, Sri Lanka, Sudan, Syria, Venezuela and Vietnam