This initiative strengthens the framework for public-private collaboration on CCUS, while complementing the efforts and adding coordinated value beyond the activities of existing organizations and initiatives, such as the Carbon Sequestration Leadership Forum (CSLF), International Energy Agency (IEA), IEA Greenhouse Gas R&D Programme (IEAGHG), Mission Innovation (MI), and Global CCS Institute (GCCSI).
The objective of this initiative is to accelerate CCUS as a viable CO2 mitigation option; facilitate diffusion of knowledge on technologies, regulations, and policies; and lead to strategic partnerships to accelerate both near and longer-term investment in CCUS to advance global deployment by making it more competitive. A key CEM advantage is that, because of its cross-cutting portfolio, outcomes from this CCUS initiative will be placed firmly in the context of broader clean energy strategies.
CCUS has long been recognized as a critical technology to reduce CO2 emissions from fossil power generation and industrial processes, while ensuring energy security. Recent progress in project deployment has been encouraging, but the need to regain momentum in CCUS was universally recognized at a side event at CEM8 in June 2017 in Beijing, an IEA CCUS Summit in November 2017 in Paris, the CSLF Ministerial Meeting in December 2017 in Abu Dhabi, and at the IEA-UK CCUS Summit in November 2018.
Increased collaboration, political leadership, and enhanced visibility are needed. There is also a need to catalyze public-private partnerships to drive CCUS investment. Important work on advancing CCUS is being undertaken through the CSLF, IEA, IEA GHG, MI, and GCCSI, but the CEM intends to provide additional value through additional ministerial-level focus and visibility, CEM experience on implementation, and inclusion of CCUS in an integrated clean energy systems context.
The initiative uses CEM ministerial meetings, communication platforms, and other outreach tools to reach a wider audience, including ministers and high-level policymakers. The CEM’s experience with public-private partnership can also aid the initiative in actively engaging with a wide range of industry and to facilitate a regular dialogue with key energy ministers on CCUS progress and priorities. Another key opportunity is to leverage the convening power of CEM to engage multilateral development banks (MDBs), commercial banks and other financial leaders in CCUS efforts, seeking their commitment to include CCUS in their development strategies and investment programs.
a. use CEM ministerial meetings, communication platforms, and other outreach tools to reach a wider audience, including ministers and high-level policymakers
b. provide expert assistance and sharing of best practices to support in-country work (e.g. “Ask an Expert” service, CEM website)
c. facilitate collaborative research
d. share analytical tools and models
a. CEM’s experience with public-private partnership can also aid the initiative to
establish an industry advisory body to provide a regular dialogue with key energy
ministers on CCUS progress and priorities
a. conduct workshops with industry and policymakers to identify promising CCUS opportunities
b. support feasibility studies, assessments, targeted analysis, and case studies
c. engage with multilateral development banks
a. support near and longer-term opportunities
b. continue to foster development of CCUS solutions
c. promote integrated policy, regulatory, financial, and technical solutions for the deployment of CCUS projects
d. coordinate interagency work programs to support in-country work