Learning by doing and market mechanisms: the keys to CCS

摘要

In a remarkably short time, as we have observed before in these pages, CCS (carbon capture and storage, formerly known as sequestration) has gone from academic curiosity to mainstream. These days no high profile gathering of political leaders seems complete without some sort of statement touching on climate change and mentioning the need for further research on CCS. The declaration emerging from the September meeting of the Asia Pacific Economic Co-operation (APEC) forum in Sydney, for example, said the APEC leaders had agreed to promote activities "in the field of clean coal use and carbon capture and storage." There are some very good reasons why CCS has risen so dramatically up the political and technological agenda - for one thing it offers scope for substantial cuts in CO{sub}2. The EC funded ZEP (the European Technology Platform for Zero Emission Fossil Fuel Power Plants) - a "broad coalition of stakeholders", which has rapidly emerged as an important focus for the promotion and development of CCS in Europe - thinks that "CCS, if fully developed and commercialised in all industrial sectors could reduce CO{sub}2 emissions in Europe by as much as 50%." They may be a little biased in favour of course, but CCS certainly shows considerable potential, and therefore could be very big business indeed.