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CCS Progress in 2021
As 2021 comes to a
close, the ground gained for CCS and climate action over the last year is
notable. January kicked off strong with the United States announcing it would
rejoin the Paris Agreement, which foreshadowed supportive policy action that
would follow. In Europe, the European Commission called for a 55% emissions
reduction target by 2030 and released
€1.1 billion in funding from the Innovation Fund to scale-up low carbon technologies. In the APAC
region, we saw new countries step into the commercial CCS market for the very
first time. On the international front, key policy makers gathered at COP 26
where the Article 6 rulebook was completed, paving a clearer pathway to a
net-zero future.
The Institute too
underwent several promising changes in 2021. From opening a regional office in
Abu Dhabi, to signing on our hundredth member, we continue to keep the momentum
going in our efforts to accelerate the deployment of carbon capture and storage. Below are just a few CCS and Institute highlights to mark the end of a
promising year
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135 CCS Facilities in the Project Pipeline
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COP 26, Article 6 and Net-Zero Commitments
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2021 saw 71 facilities added to the project pipeline. While North America and Europe
is leading the pack in terms of deployment, the Gulf Cooperation Council States
and the APAC region have gained notable ground, particularly with new players –
like Malaysia and Indonesia – entering the CCS market. There are now a total of 135 CCS facilities in various stages of development.
Now more than ever, there are a diverse range of industries
taking on CCS projects, from cement production to hydrogen, iron and steel. For
a full snapshot of CCS progress over the last year, have a look at the Institute's Global
Status of CCS report.
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While CCS
is not explicitly mentioned in the Glasgow Climate Pact, climate negotiations
took an encouraging turn at this year’s COP when parties agreed to advance the deployment
of technologies that “accelerate efforts towards the phasedown of unabated coal”.
In the coming years, CCS will likely be incorporated in more Nationally
Determined Contributions (NDCs) than we see now, particularly in the NDCs of
countries where energy intensive sectors are present.
Signaling a
commitment to meet international climate targets, several net-zero
announcements were made in the latter half of the year, including Nigeria and Saudi Arabia, which both pledged to reach net-zero by 2060, and India, which made a 2070 net-zero commitment at COP.
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U.S. Moves Forward with Bipartisan Infrastructure Law,
Setting Stage for CCS Funding
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European
Commission Heightens Climate Ambition
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The United States federal government furthered its CCS ambitions in 2021 through
funding provisions included in the Infrastructure, Investment and Jobs Act. The act –
which totals $1.2 trillion in funding
– allocates over $6 billion for a wide range of CCS efforts,
including demonstration projects, direct-air capture and large-scale projects.
The Infrastructure Law comes eleven months after the Biden administration
signed an executive order to reinstate the United States in the international
Paris Agreement.
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The European Commission introduced new climate ambitions in
2021 with targets to reduce emissions by 55% by 2030. The ‘Fit for 55’
climate package will support enhancements to the EU Emissions Trading System,
reform transport infrastructure and drive innovative low-carbon projects through funding.
The EU Innovation Fund is one such funding programme, which
aims to invest €25 billion towards green projects by 2030. In November
2021, the Commission selected seven projects to be beneficiaries of the
first-call for funding, four of which include a CCS component. The approved CCS projects will mitigate emissions in the hydrogen, chemical, bio-energy and
cement sectors.
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Interested
in more top CCS news items from 2021? Click here.
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Institute Changes and Progress
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Global Status of CCS Report 2021
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Mirroring the rise of CCS interest in the Gulf Cooperation Council
States, the Institute announced the opening of a regional office in Abu Dhabi, UAE
in April of this year. With our experts on the ground, industry and policy
stakeholders in the region will be actively supported through the Institute’s local
services.
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The Institute saw a successful launch of the Global
Status of CCS report this year, with over 5,000 people from around the world
seeking to download the 2021 report in just under three months. The report – which
provides a global snapshot of CCS progress – unveiled several key findings,
highlighting industries that are entering the CCS market and releasing new numbers tied
to CCS facilities under various stage of development.
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As of 2021, there are over 100 members working with the Institute to
accelerate the deployment of carbon capture and storage.
With our stakeholders ranging from a wide number of sectors from across the world, we look forward to working alongside our key partners and members to tackle our shared goals in the years to come.
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The Institute welcomed a new CEO following the retirement
of Brad Page after ten years at the helm. Jarad Daniels stepped into the CEO role
in October following a long-standing career at the U.S. Department
of Energy, most recently as
Director of the Office of Strategic Planning, Analysis, and Engagement,
where he engaged policy and industry leaders to spearhead CCS deployment.
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Have questions? Get in touch with us at info@globalccsinstitute.com
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