DEAR COLLEAGUE,
Year 2021 draws to a close, and while the whole year has been characterised by what at times seems like a never-ending global pandemic, we have nevertheless also seen plenty of positive progress in climate change policy and in clean energy transition.
COP-26 in Glasgow provided further impetus for ambitious emission reduction targets, and as such also a vital backdrop for the deployment of carbon capture technologies as part of a wide portfolio of measures. While CCUS has never been at center-stage in the climate negotiations, it is clear that its role is more and more widely recognised. It is especially relevant with regard to the various national net-zero targets that have emerged ahead of and during COP.
Countries under the CEM CCUS Initiative have continued their efforts to accelerate the deployment of CCUS. Many have continued to enact and implement incentive policies and have launched new ambitious programmes and targets.
We thank you for your interest in our work through 2021. We invite you to get in touch if you are interested in knowing more about our activity. Our contact details are at the end of this newsletter.
We take the opportunity to wish You a Relaxing Festive Season and a Happy and Prosperous New Year 2022!
- your CEM CCUS Initiative team
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CCUS POLICY ACCELERATES ACROSS THE GLOBE
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Attention and activity to drive CCUS is picking up significantly across the globe. In a global CCUS policy round table organised at the 6-7 December Annual Meeting of the Initiative, altogether 21 countries reported on their recent progress and forward thinking. While the Initiative Annual Meetings have often had a small number of guest countries, this time ten guests were present alongside Members, to share their CCUS strategies and activities, and to learn from each other.
It is very positive to note the advancements in policy by CEM CCUS Members, but also by the guests who attended the meeting. Approaches and status of CCUS deployment programme varies from being in “learning mode” all the way to starting to implement industrial-scale projects. It is however clear that countries can greatly enhance their national programmes by learning from each other.
In addition to general development overviews, the meeting agenda included a wide range of key strategic and policy issues: implications of COP-26, the role of Paris Agreement Article 6, financing models, fostering strategic hubs, CO2 storage resource assessments, CCUS in energy-intensive industry (especially cement), and the forward agenda towards the 13th Clean Energy Ministerial meeting. CEM-13 will be hosted by United States in Pittsburgh in September 2022.
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In September 2021 the Initiative welcomed Australia as its newest member. A long-time leader in the field of CCUS, the Australian Federal government has recently significantly accelerated its CCUS policy, with the objective of reducing cost of CCUS and facilitating CCUS hubs. It has recently announced an AUD50 million “CCUS Development Fund” with six recipient projects, as well as an AUD 250 million “CCUS Hubs and Technologies Programme”, to support large scale deployment of CCUS projects and hubs, including R&D and commercialisation efforts.
At a webinar organised by the Initiative on 2 November, representatives from the Australian Government, CSIRO and Chevron gave the audience the latest on Australia’s CCUS policy developments, CO2 utilisation scenarios and the Gorgon CCS project.
You can watch the recording of the event here.
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CARBON SEQUSTERATION LEADERSHIP FORUM TECHNICAL GROUP MEETING
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On 8 December, the Carbon Sequestration Leadership Forum Technical Group, one our key technical partners, met to discuss its key work items on technical CCUS developments. The CEM CCUS Initiative participated in the meeting. More information on the CSLF TG meeting can be found here:
https://www.cslforum.org/cslf/Events/VirtualTGAnnualMeeting2021
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GLOBAL CO2 STORAGE RESOURCE ASSESSMENTS
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The Initiative is helping to advance work on global CO2 storage resource assessments. While some countries have studied their CO2 storage potential in great detail, many countries and regions still lack the necessary geological data to produce reliable and comparable storage resource estimates.
Along with partners such as the United States Geological Survey, and IEAGHG, the Initiative intends to facilitate a major programme on CO2 storage resource basic data, which in turn can help countries and industry to draw up storage atlases and develop actual storage sites. The programme is primarily directed to governments and national geological survey organisations. Please email info@cemccus.org if you are interested in learning more.
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THE CEM CCUS INITIATIVE: FOUR CENTRAL AREAS OF ACTION
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In case you wonder what the CEM CCUS Initiative does….: we are essentially a platform for governments, industry and the financial sector to come together to accelerate CCUS and advance various investment opportunities. We make sure that carbon capture is duly considered in the ministerial discussions on clean energy transition, bring together policy-makers, investors and the financial community, foster investment opportunities and strategic hubs, and share knowledge and best practice. Our thirteen full Members include leading CCUS countries across the world.
If you are interested in our work and would like to learn more, please get in touch with us: info@cemccus.org.
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FINANCE SECTOR LEAD GROUP FOR CCUS
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The CEM CCUS Initiative convenes the “Finance Sector Lead Group for CCUS”, an informal group of finance-sector organisations interested in CCUS opportunities. The group is open for all types of financial organisations: development banks, commercial banks, asset managers, institutional investors, insurance companies etc.: any financial organisation interested in CCUS as part of a clean energy and climate investment portfolio. We gather 3-4 times a year to discuss topical issues on carbon capture, such as policy developments, ESG issues, or particular country developments. Our meetings and events provide active links between banks, industry and governments, to discuss potential investment opportunities. The group issued the Key Financing Principles for CCUS ahead of CEM-11 in 2020.
If you are from a finance sector organisation and are interested, please contact us at info@cemccus.org.
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NEXT CEM CCUS INITIATIVE NEWSLETTER:
March 2022
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CLEAN ENERGY MINISTERIAL CCUS INITIATIVE IN BRIEF:
The CEM CCUS Initiative was established at the 9th Clean Energy Ministerial meeting in Copenhagen/Malmo in May 2018. Our objective is to accelerate CCUS together by:
- Ensuring that CCUS is considered under the Clean Energy Ministerial work,
- Providing a platform for governments, industry and the finance sector to collaborate,
- Fostering strategic investment opportunities and
- Sharing knowledge and experience on policy, regulation and CCUS investment in general.
We have thirteen Member Countries: Australia, Canada, China, Japan, Mexico, Netherlands, Norway, Saudi Arabia, South Africa, United Arab Emirates, United Kingdom and United States. The European Commission is an Observer. We also nurture active working links with other key organisations such as the IEA and others.
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