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Global Carbon Capture and Storage Institute

Revision as of 04:13, 19 September 2008 by Bob Burton (talk | contribs) (SW: add start date)

{{#badges: Climate change}}The Carbon Capture and Storage Institute was announced in September 2008 as a global initiative by the Australian Prime Minister, Kevin Rudd and the Resources Minister, Martin Ferguson.

Contents

The announcement

In a presentation to a meeting of industry representatives in Canberra, Rudd and Ferguson announced that they would commit $A100 million per annum to the costs of a global institute to develop Carbon Capture and Storage projects. The media statement announced that the institute, which Australia was offering to host, would "aim to accelerate carbon projects through facilitating demonstration projects and identifying and supporting necessary research - including regulatory settings and regulatory frameworks." Rudd and Ferguson announced that the proposed institute would be the subject of discussions with other governments and industry with a view to facilitating the "commercial deployment" of CCS "across the world by the end of the next decade."[1]

They also stated that a bill before the parliament would establish a regulatory framework for CO2 storage under the seabed in Commonwealth waters" and that, once passed, would allow the government "to offer the first carbon storage blocks for commercial development in early 2009."[1]

In his speech announcing the project, Rudd stated that "climate change is a threat for the future. It is a threat also for the future of our coal industry in Australia. Not enough is being done globally on this."[2] Rudd also flagged the intention for the institute to be operational in January 2009.[3]

Reaction

In response to the announcement, Australian Greens Senator Christine Milne, said that "the coal industry should be paying for its own research," she said."The coal industry has made mega profits for many, many generations at the expense of the atmosphere, and now we are all paying for that."[2] In her media release she pointed out the lack of any announcement for major funding for anything but coal. ""Where is the $100 million fund to make Australia's world leading solar researchers a global knowledge hub? Where are the half a billion dollar funds to roll out solar thermal power stations, ocean power stations and geothermal demonstration plants? All of these are ready and able to provide vast quantities of base-load power well before a single coal power plant using geosequestration can be built," she said.[4]

Articles and resources

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