The Prince of Wales and Global CCS Institute CEO Brad Page recently gathered with experts and senior leaders from various sectors to discuss how to accelerate the deployment of carbon capture and storage (CCS) technologies.
Convened as part of The Prince of Wales’ Sustainable Markets Initiative, the event saw participants discuss necessary actions in order to scale up the deployment of CCS by at least 100-fold by mid-century in order to meet global climate ambitions.
“It is an honour for the Institute to convene this important discussion with The Prince of Wales, a leading advocate for climate change,” said Page.
We are grateful for his leadership on addressing climate change and raising awareness for the role of CCS in climate mitigation.”
“There are now 19 large-scale CCS facilities in the world capturing about 40 million tonnes of CO2 every year. A further 32 facilities are in planning with facilities pipeline growing continuously.”
“While this momentum is positive, it is far from where we need to be, and we need governments and the private sector to accelerate the deployment.”
“After all, the technology is proven, ample storage is available, costs are coming down, and CCS is key to delivering a globally equitable and just transition.”
A key message which emerged from the roundtable discussion was the finance sector is ready with ample funding available for CCS projects that have a robust business case.
“We are seeing new participants enter the CCS market as well as increased interest from technology companies.”
“This really is a game-changer as they can not only bring down cost, but they are also working on exciting and innovative new applications.”
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