“There can be no solution to climate change and energy security globally without carbon capture and storage.” These were the bold words of Chris Huhne, the UK’s Energy Secretary, who was speaking at a meeting in the United Arab Emirates, to advance the deployment of CCS globally.
Energy ministers from around the world have agreed to proposals to accelerate Carbon Capture and Storage technologies coming online sooner than previously expected.
Members of the Clean Energy Ministerial, a high-level global forum designed to share ideas for a global clean energy future, endorsed recommendations from the Carbon Capture, Use and Storage Action Group.
Mr Huhne explained the importance of global co-operation: “Deployment of the technology is tantalisingly close, but it won’t happen at commercial scale without concerted efforts by governments around the world to address legal, financial and technical barriers.”
-advancing policies that address the financial gap and risks associated with early-mover CCS;
-advancing funding mechanisms to support the CCS projects in developing economies;
-supporting the development of best practice knowledge-sharing from early mover projects, in particular those with public funding.
The following governments agreed to continue or initiate action in support of one or more of these recommendations by the next Clean Energy Ministerial: Australia, Canada, France, Germany, Japan, Mexico, Norway, Republic of Korea, South Africa, the United Arab Emirates, the United States and the United Kingdom.
Member nations of the CEM collectively represent 80% of the world’s energy consumption and over 90% of the world’s clean energy investment. The next Clean Energy Ministerial will take place in London in the spring of 2012.