Strengthening International Collaboration on Carbon Capture Use and Storage

Carbon capture use and storage (CCUS) technologies are critical to achieving global and national climate and energy goals1 In recent decades, industry and governments have achieved significant milestones in advancing CCUS technologies. There are now 18 large-scale CCUS facilities operating around the world and, to date, 220 million tonnes of anthropogenic CO2 have been safely stored below ground.2 However, the pace of development and deployment must rapidly accelerate if CCUS is to achieve its potential role in reducing greenhouse gas emissions while ensuring sustainable development.

Experience demonstrates that two critical factors in advancing CCUS technologies are adequate policy drivers and incentives and the availability of finance. Although the relevant decision-making rests primarily with national governments and the private sector, international collaboration can help to strengthen both of these critical factors. The 2019 G20 summit in Osaka and the energy and environment ministerial meeting in Karuizawa, Japan, present important opportunities to strengthen international collaboration on CCUS by building on existing initiatives and focusing on future efforts.

Toward that end, this paper reviews projected global, regional, and sectoral CCUS needs; policy examples and options at the national level; financing challenges and opportunities; and identifies a range of options for strengthening international collaboration on CCUS at the G20 meetings in Japan.

Roundtable Recommendations