The Role of Carbon Capture and Storage in the Mitigation of Climate Change

Abstract

Scenario analysis clearly indicates that CCS is a critical technology in Paris consistent ‘well below 2°C’ scenarios. While the optimal deployment of CCS will be debated, the literature is clear that CCS is needed at a large-scale. Scenarios show CCS plays a key role in the power sector and industry, on fossil fuels and bioenergy, and in all world regions. The design of the Paris Agreement around five-yearly cycles to raise ambition is likely to lead to lower and uncertain carbon prices and thereby discourage the deployment of CCS. To ensure that CCS is deployed at the necessary scale, and to make a meaningful contribution to the Paris Agreement’s ‘well below 2°C’ goal, it is likely innovative government support for CCS is necessary to operate in parallel to conventional climate policies.