Global CCS Institute Newsletter

NEWSLETTER | December 2020

Global Status of CCS Report 2020 Officially Released

The Global CCS Institute has released the flagship Global Status of CCS Report, 2020. The report — which offers a worldwide view of the annual progress of CCS — was launched during a live online broadcast that saw over 1,600 people from over 40 countries registered to attend.

This year’s report illustrates a 33% increase in global storage and capture capacity and also finds that there are 65 facilities in various stages of development around the world. While promising, a rapid acceleration of CCS is still needed to reach net-zero climate targets. For a complete look at this year's findings, download the Global Status of CCS Report from the Institute's website.

READ THE FULL REPORT

Insight: Environmental, Social and Corporate Governance (ESG) – A role for CCS

Commitment from the finance and investment community will be required to rapidly accelerate the deployment of CCS technology; according to a newly published Insight authored by the Institute's CCS Legal and Regulatory expert Ian Havercroft.

With several major financial institutions limiting their investments in fossil fuels, climate risk is increasingly becoming a key focus. Despite this, CCS has yet to be a major part of the climate mitigating approaches in the financial sector. With the significant abatement potential that CCS provides, environmental, social and governance (ESG) ratings has the potential to help steer and support the CCS market.

READ THE FULL INSIGHT

CCS Project Development in Wyoming and Colorado

In partnership with the United States Energy Association and the U.S. Department of Energy, the Global CCS Institute will be holding a two day event on CCS project development in Colorado and Wyoming.

Both states have implemented policies that support and incentivise industrial decarbonisation, making them well positioned to become leaders in the CCS space. Sessions will highlight regional CCS opportunities available in Wyoming and Colorado, the economics of the 45Q tax credit, key components needed to get a CCS project off the ground and much more.

SIGN UP TO ATTEND

Carbonomics Conference Covers CCS Deployment

In November, Goldman Sachs held their annual Carbonomics Conference and Global CCS Institute CEO, Brad Page, was invited to take part. The event brought together leaders in industry, finance, climate change mitigation and the regulatory sector to discuss strategies that will support sustainable growth and a successful transition to a low-carbon economy.

As part of the conference, Brad Page presented on 'Accelerating the deployment of carbon capture and storage'. The session was moderated by Sharmini Chetwode, Head of ESG Research for Asia, Goldman Sachs.

WATCH THE CARBONOMICS CONFERENCE

Decarb Connect Podcast Unpacks the Future of CCS

The Institute’s General Manager of Advocacy and Communications, Guloren Turan, was featured in the Decarb Connect podcast to talk all things CCS. The episode highlighted the opportunity that exists for CCS to support government and industry to 'build back better' in a post-COVID world. With commitments to reach net-zero climate targets gaining momentum, CCS will be a key tool to reach carbon neutrality by 2050. The Decarb Connect podcast will continue to feature climate change and industry leaders ahead of January’s Decarb Connect Digital Festival.

LISTEN TO DECARB CONNECT

BSP Election Outcome

Further to the recent election for the two vacancies on our Global CCS Institute Board Selection Panel (BSP), we are pleased to announce that Mr Richard Esposito (Southern Company) and Mr Cory Channon (International Brotherhood of Boilermakers) have both been appointed by the Members to join the BSP. We would like to congratulate the Elected BSP members and are pleased to welcome them to join the Global CCS Institute Board Selection Panel.

Please do not hesitate to contact Susan Steele, Company Secretary, if you would like any additional information on the Board Selection Panel or the election process.