Carbon Capture and Storage Model Regulatory Framework
Foreword
Energy-related carbon dioxide (CO2) emissions are projected to double by 2050 unless decisive action is taken. The International Energy Agency (IEA) analysis indicates that, to achieve a reduction of projected greenhouse-gas emissions to half 2005 levels by 2050, a significant energy technology revolution is necessary. Carbon capture and storage (CCS) is identified as a crucial element of this technological portfolio, contributing approximately one-fifth of the total emissions reductions required by 2050. Without CCS, the overall cost of achieving these emission reductions increases by 70%.
Key Points
- Rapid Expansion: Approximately 100 CCS projects are needed by 2020, with over 3,000 projects required by 2050.
- Regulatory Issues: The rapid expansion and scaling up of CCS technology raise numerous regulatory challenges that must be addressed simultaneously with ongoing efforts to demonstrate the technical, safety, and environmental viability of industrial-scale CCS projects.
Regulatory Framework
The IEA Carbon Capture and Storage Model Regulatory Framework aims to address these regulatory issues by drawing on existing CCS regulatory frameworks in various countries, including Australia, Europe, and the United States. The framework proposes key principles for addressing a broad range of regulatory issues associated with CCS.
Acknowledgements
This publication was prepared by the IEA's Carbon Capture and Storage Unit. Key contributors include:
- Lead Author: Brendan Beck
- Significant Input: Justine Garrett
- Overarching Guidance: Juho Lipponen
Additional contributions came from numerous IEA colleagues, including Tom Kerr and Nancy Turck. Paul Zakkour from Carbon Counts provided valuable drafting support. Special thanks to Ian Havercroft from University College London’s Carbon Capture Legal Programme and David Wagner from ReedSmith LLP, who were core to the project’s development and drafting.
Advisory Committee
The Advisory Committee, which guided the drafting process, included representatives from various organizations such as the Implementing Agreement for a Co-operative Programme on Technologies Relating to Greenhouse Gases (IEA Greenhouse Gas R&D Programme), Bellona Foundation, World Resources Institute, Carbon Capture and Storage Association (CCSA), and others.
Contact Information
For more information on this document, contact:
- Brendan Beck: Tel. +33 (0)1 40 57 67 07, Email: brendan.beck@iea.org
- Justine Garrett: Tel. +33 (0)1 40 57 67 97, Email: justine.garrett@iea.org
This summary provides an overview of the key points and objectives of the Carbon Capture and Storage Model Regulatory Framework, highlighting the critical role of CCS in reducing greenhouse gas emissions and the need for robust regulatory frameworks to support its deployment.
