Current Status of CO₂ Geosequestration: A Policy and Regulatory Review

Zakkour, Paul, ERM Energy & Climate Change Services, TX

Support for CO₂ capture and geological storage (CCS) as a means of making deep cuts in atmospheric emissions of anthropogenic greenhouse gas is gaining momentum in some quarters of government and industry. When considering the steep challenge faced in meet­ing Kyoto reduction targets, and the fact that some estimates of the global geological stor­age potential are several hundred times the amount of projected energy-related CO₂ emis­sions in 2030, the reasons for this support are manifest. Consequently, CCS - alongside renewables, fuel switching and energy efficient technologies - is increasingly being seen as an important addition to the global toolbox of climate change mitigation strategies. However, prior to a more widespread uptake of the technology, in addition to improved understanding of the subsurface behaviour of CO₂, an effective and accommodating policy and regulatory framework must be developed.

ERM has been advising a range of clients on how CCS policy frameworks are evolving, and analysing and recommending how regulatory regimes may be developed. This can ensure that CCS is deployed in an effective and environmentally consistent way, and the incentive mechanisms which can promote secure uptake are developed.