Major Economies Forum on Energy and Climate Technology Action Plan: Carbon Capture, Use, and Storage
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In December 2009 the Major Economies Forum on Energy and Climate (MEF), a U.S. government initiated forum, launched its Technology Action Plan on the development of Carbon Capture, Use, and Storage (CCS), an experimental technology for reducing emissions for coal-fired power stations. At the third meeting of the MEF, held at the G8 summit in Italy, the participants agreed to develop ten technology action plans with Australia and the United Kingdom volunteering to take the lead on the CCS plan.
The plan, which acknowledges that it is heavily reliant on the International Energy Agency's CCS Roadmap and a report for the Global CCS Institute, sketches key government steps to help promote the controversial technology. In particular, the report outlines that some of the key actions needed are to "develop comprehensive legislative and regulatory frameworks that address, among other things, long-term storage and financial liability", "provide government investment through public-private partnerships in integrated CCS projects, for both power and industrial plants, to drive down technology costs and share or reduce risk" and "provide government investment to accelerate understanding of storage sites."
While the G8 had set the target of having 20 commercial scale projects developed by 2010, the plan not only urges the MEF to "take steps to ensure the fulfillment of the G8 commitment" but also recommends that forum members "recognize that by 2020, many more could be required in both developed and developing countries, which may need assistance from developed countries."
In the premable, the plan states that "while increased use of renewable energy, greater energy efficiency, and nuclear power all have important roles to play in the mitigation of greenhouse gases, carbon capture and storage (CCS) is the only viable option for addressing emissions from facilities that continue to burn fossil fuels. With the potential to reduce CO2 emissions from fossil fuels by up to 90%, CCS is a critical technology for reducing emissions to target levels in the required time frame. Despite limited deployment, CCS is not yet a commercial technology for energy and industrial applications."
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Related SourceWatch articles
- The White House, "Meeting the International Clean Energy and Climate Change Challenges", Media Release, July 9, 2009.
- Australia and the United Kingdom in consultation with MEF Partners, "Technology Action Plan: Carbon Capture, Use, and Storage: Report to the Major Economies Forum on Energy and Climate", December 2009.
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