DEAR COLLEAGUE,
Welcome to the October 2022 edition of the Clean Energy Ministerial CCUS Initiative newsletter.
The first ever “Global Clean Energy Action Forum”, or GCEAF, was held in Pittsburgh on 22-23 September. Over 5000 attendees from all key stakeholder groups gathered at the David L Lawrence Convention Center to discuss and define next steps for rapid clean energy deployment. This major gathering included also the Clean Energy Ministerial and Mission Innovation Ministerial meetings. The below sections detail some of the carbon capture events and other relevant aspects of GCEAF – happy reading!
We thank you for your interest in our work and 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.
- your CEM CCUS Initiative team
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THE GLOBAL CLEAN ENERGY ACTION FORUM, 21-23 SEPTEMBER, PITTSBURGH
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The first ever Global Clean Energy Action Forum was hosted by the US Department of Energy, Carnegie Mellon University and several other partners in Pittsburgh on 21-23 September. The event was of substantial size, gathering 5000+ in-person attendees from across the world. While the traditional Clean Energy Ministerial and Mission Innovation Ministerial meetings (13th and 7th respectively) were still at the heart of the event, this clean energy festival, accessible to the public, offered a vast range of dialogues, conversations and showcases by governments, industry, new technology companies, civil society etc.
Mainstage events took a holistic view on energy challenges, with insights on global energy developments by speakers such as the US Energy Secretary Jennifer Granholm, Ukraine’s Energy Minister Herman Halushchenko, the US Special Presidential Envoy for Climate John Kerry, numerous energy ministers from across the world, and the Breakthrough Energy founder Bill Gates (yes – THE Bill Gates).
By-invitation roundtable discussions gathered ministers, CEOs and civil society leaders to discuss several key issues. The list of nine round tables included one on carbon management (read CDRs) and one on industrial decarbonisation. While these gatherings were held under the Chatham House rule, they both stressed the need to develop carbon capture as a key solution and highlighted several ongoing industry and government initiatives in this regard.
Hosted by Global CCS Institute, a carbon management business forum gathered industry and government leaders to showcase technology and infrastructure developments, as well as finance solutions for large-scale CCUS deployment.
Outside the plenary programme, some 115 side-events kept the audience busy, offering expert dialogues and discussions across the whole clean energy spectrum, as well around cross-cutting themes of the role of youth, gender, communities and just transition.
Altogether over 30 different announcements and deliverables were made public at GCEAF. At the closing ceremony, the US Energy Secretary Jennifer Granholm announced that 16 CEM countries had agreed to contribute USD94 billion for clean energy technology demonstrations.
Several events and dialogues were broadcast during the two days – recordings are available on the GCEAF website.
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CCUS INITIATIVE AND GCCA TO ACCELERATE CCUS IN THE CEMENT SECTOR
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At a GCEAF side-event, CEM CCUS Initiative and the Global Cement and Concrete Association GCCA unveiled a major government-industry collaboration agreement to accelerate CCUS in the cement sector. The announced agreement will help scale up the deployment of CCUS throughout the cement and concrete industry, in a move to stimulate innovation, investment and increase the pace of decarbonisation efforts.
The declaration was officially unveiled by Thomas Guillot, CEO of GCCA, Henriette Nesheim, Assistant Director-General at the Norwegian Ministry of Petroleum and Energy, one of Initiative's Co-Leads, and Brad Crabtree, Assistant Secretary for Fossil Energy and Carbon Management at the US Department of Energy.
Central to the collaboration will be exploring incentives, policy frameworks and finance solutions at a global level that can enable industrial-scale CCUS projects over the next ten years. The partners will explore the transport and storage infrastructure needs involved in integrating cement CCUS projects into strategic CCUS transport and storage hubs. This collaboration will also help foster project partnerships and lead to acceleration of projects in developing economies. The two organisations will work together to ensure the long-term deployment of CCUS, beyond 2030, via both policy and technological development.
A year ago, GCCA unveiled its “Concrete Future” roadmap, aiming at carbon-neutral concrete by 2050 globally, with a range of technology options. Carbon capture is a key vector in the GCCA decarbonisation vision.
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GCEAF NEWS: CCUS INITIATIVE CO-HOSTS SEVERAL EVENTS
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CCUS in emerging economies
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This discussion, co-hosted by the CEM CCUS Initiative, Clean Air Task Force, IEAGHG and GCCSI, discussed the critical and practical steps to materially accelerate CCUS deployment in emerging economies. In addition to the host organisations, Indonesia and Nigeria were represented in the panel alongside the World Bank. Indonesia and Nigeria are both accelerating their CCUS programmes, by identifying projects and opportunities and by developing policies and regulations. The discussion also highlighted again the important role that multilateral development banks can have in helping emerging economies speed up their CCUS development, and the need to ensure that they remain equipped to do so.
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This discussion was co-hosted by the CEM CCUS Initiative and GCCSI and offered finance-sector views to the CEM audience regarding the financing of CCUS projects and the appetite for banks to be involved in CCUS investment. Starting from the role that carbon capture can play in the banks' clean energy investment portfolios, the panel went on to discuss key issues and impediments that currently hinder large-scale involvement, as well as policy and risk-sharing solutions required. The panel included representatives from Citi, New Energy Risk and Energy Futures Finance Forum.
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Accelerating technology-based carbon dioxide removal (CDR)
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Co-hosted by the CEM CCUS Initiative, DAC Coalition, IEAGHG and IRENA, this event started from a general state of play with bioenergy with CCS (BECCS) and direct air capture (DAC) and went on to discuss the path forward to accelerate their uptake. The panel discussed the emerging technology-based CDR ecosystem, capital investment needs, the role of carbon markets and the needed policy frameworks and support. In addition to the co-hosts, further panelists were from Carbon Engineering, Climeworks, Negative Emissions Platform and Stripe.
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Collaborating to accelerate CCUS in the cement sector
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In addition to the launch of the collaboration declaration (see above), this event highlighted the decarbonisation challenge by the global cement sector, and the role that carbon capture can play. This event was co-hosted by the CEM CCUS Initiative, the CEM Industry Deep Decarbonisation Initiative and the Global Cement and Concrete Association. Panelists representing Lehigh Hanson Cement, GCCA, UNIDO, Oil and Gas Climate Initiative and US Department of Energy discussed the required policy frameworks and support, the role of infrastructure and strategic hubs for the cement sector, as well as the role that public procurement policies can play in creating demand for carbon-free cement and concrete.
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CCUS INITIATIVE MEMBERS MEET IN PITTSBURGH - ISSUE A GLOBAL OVERVIEW
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The CEM CCUS Initiative members met in their annual meeting in Pittsburgh on 21 September. A traditional part of the annual meeting is in fact a simple round table on CCUS programme and policy developments across all CEM CCUS members and invited guest countries, allowing to share current practice and learn from others.
The slide presentation of the round table, with condensed information of all countries is available on the CEM CCUS Initiative webpage. The presentation also includes key input from the CSLF Technical Group, assessing progress towards the objectives of the 2021 CSLF CCUS Technology Roadmap.
At the meeting, the Initiative discussed and agreed on the key outline of its 2023-2024 work programme, which will help accelerate efforts to deploy CCUS. The current four co-lead countries, Norway, Saudi Arabia, United Kingdom and United States, were re-elected as co-leads for a new two-year period until 2024.
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NEW YORK CLIMATE WEEK: CCUS INITIATIVE AND GCCSI CO-HOST EVENT
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Together with the Global CCS Institute, the Initiative co-hosted a half-day event on CCUS on Tuesday 20 September at the Scandinavia House in New York City, as an official side-event of the New York Climate Week. Over 100 clean energy development and finance professionals joined the event to hear expert views on CCUS in hard-to-abate industries, as well as aspects CCUS financing. Organisations involved in the two discussion panels included the Global Cement and Concrete Association, Oil and Gas Climate Initiative, Arcelor Mittal, International Brotherhood of Boilermakers, Credit Suisse, Citi, International Finance Corporation and Climate Bonds Initiative.
In between the two focused sessions, the audience heard the launch presentation on new analysis on the US policy and incentive framework for CCUS by Energy Futures Finance Forum (part of Energy Futures Initiative) and a response by US Department of Energy.
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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:
December 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 fourteen Member Countries: Australia, Canada, China, Japan, Mexico, Netherlands, Nigeria, 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, IEAGHG, the Global CCS Institute and others.
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