The Carbon Capture Coalition has today sent a letter of request to Congressional leaders and committees of jurisdiction for measures to provide immediate support for carbon capture projects at risk of delay or cancellation due to the coronavirus crisis.
Recommendations within the letter were drawn from a broader federal policy blueprint agreed by all Coalition participants last year. Participants prioritised the coronavirus in the letter to spur economic activity and protect and create high-wage jobs.
The recommendations seek to provide financial certainty to investors, leverage private capital, and ensure access to existing incentives, and they are guided by three criteria aimed at ensuring a timely and effective federal response to economic needs.
Launched in 2011 with an aim to support the deployment and adoption of carbon capture technology, the Carbon Capture Coalition is formed of some of the industry’s largest companies such as Carbon Engineering, Shell, Svante and Air Products.
“Carbon capture from flue stacks and carbon removal from the atmosphere are critical to energy sector competitiveness and to tackling climate change,” explains Steve Oldham, CEO of Carbon Engineering.
“The sector has built up encouraging momentum over the past few years, and initial work on many commercial-scale projects has begun, but progress is now threatened with recent economic turmoil.”
“The Carbon Capture Coalition has recommended an excellent set of policy measures that Congress can act on to preserve momentum and help the carbon capture sector create both jobs and emissions reductions.”
The full letter can be accessed here.