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Presentation given at the High Level Conference, Fighting Climate Change with Carbon Capture and Storage …

Presentation given at the High Level Conference, Fighting Climate Change with Carbon Capture and Storage

May 2009

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  • 1. Directions to 2050
    • Financing Carbon Capture and Storage Technology
      • General Guidelines
      • Action in the EU
      • An international approach
      • What it means in practice
      • CCS certification
    David Hone Group Climate Change Adviser Shell Future Fuels and CO 2
  • 2. General Guidelines for CCS Support
    • Underlying price for CO 2 must be in place
    • Recognition of the demonstration nature of the technology
      • Clear demonstration objectives in place
      • A timeline for action
      • Funding commensurate with the task at hand
      • A focus on delivery of fewer complete projects, rather than limited funding for many.
    • A robust approach to CO 2 storage certification (and MRV) based on 2006 IPCC GHG Inventory Guidelines.
  • 3. General Guidelines for CCS Support EU-ETS recognises CCS Demonstration programme announced in 2007 Funding available through to 2015 300 million EUA (~ €6-9 billion) 10-12 projects only EU CCS Directive Now in place in the EU ( on the way in the USA & Australia )
    • Underlying price for CO 2 must be in place
    • Recognition of the demonstration nature of the technology
      • Clear demonstration objectives in place
      • A timeline for action
      • Funding commensurate with the task at hand
      • A focus on delivery of fewer complete projects, rather than limited funding for many.
    • A robust approach to CO 2 storage certification (and MRV) based on 2006 IPCC GHG Inventory Guidelines.
  • 4. Replicating the model internationally
    • Create a “ sector-based ” mechanism
    • within the Copenhagen Agreement
    • Large scale preparatory step towards absolute targets in developing countries
    • Clear purpose and end-point
    • Built on the foundation elements of the international agreement (e.g. mechanisms, MRV)
    • Negotiated separately (by a limited number of parties) as “satellites” to the main agreement
    • Typically focussed on a sector
    • Technology capacity building, funding and financing
    • Best practice capacity building
  • 5. Example: A “ sector based ” agreement that accelerates CCS deployment Funding flow CCS Certs. 2009 2010-2015 2020 2025+ Objective: Establish CCS in three major developing countries through a 25 project programme Emissions trading adopted in key developing country power sectors Initial CCS roll-out in developing countries First large scale CCS demo projects (e.g. China) Initial CCS infrastructure funded directly Clean technology funding framework emerges globally CCS Project Mechanism & certification processes finalised $ £ ¥ €
    • EU-ETS
    • US-ETS
  • 6. Evolution of the CDM and CCS Certification
    • CDM / JI (Kyoto 2008-2012)
    • Small / Moderate scale
    • Development “dividend”
    • SD criteria
    • Additionality
    • Exhaustive project by project process
    Cost of abatement € /tCO 2 e Abatement GtCO 2 e per year in 2030
    • CO 2 Storage Certificate
    • Recognises CCS globally
    • Certifies tonnes sequestered
    • Standardised rules
    • Potentially tradable
    • Clean Development Mechanism
    • Existing CDM rolls forward
    • Smaller scale than CTM
    • Development agenda
    • Focus on less developed economies
    • Clean Technology Mechanism
    • Focussed on the higher end of the
    • abatement curve
    • Principally clean electricity
    • Recognises CCS
    • Drives sector-based approach
  • 7. CO 2 Storage Certificate
    • With an eye on the future:
    • Develop a [tradable] carbon sequestration unit (CSU) that is based on internationally accepted criteria for the longevity of storage.
      • Applies anywhere in the world
      • Awarded on the basis of ensuring long-term storage as per the 2006 IPCC Guidelines for National Gas Inventories.
      • Could also support a CCS project in the CDM.
    • Best developed by a body dedicated to CCS, e.g. the Global CCS Institute (Australian), IPAC (Canadian) or Carbon Sequestration Leadership Forum (CSLF).
    • Underpins the necessary development of institutional capacity building for CCS measurement, reporting and verification.
    • Opens up the possibility of a range of policy options for the expanded deployment of CCS.
  • 8. http://blogs.shell.com/climatechange