Some background slides on carbon geostorage under the UNFCCC since 1996

1. Asia-Pacific’s Potential for CCS: Role and
Promise of Carbon Markets to Ignite Deployment?
Paul Zakkour | Director | Carbon Counts
Asia Climate Summit
08.12.2022 | MBSCC, Singapore

2. Wide range of sectors/applications
2
Carbon geostorage is essential to achieving net zero by 2050
from every world region
Source: IEA NZE Roadmap 2021 Source: IEA Energy Technology Perspectives (ETP), 2020

3. And will need to encompass tech-based CDR to retain 1.5°C
3
Source: IPCC Sixth Assessment Report, 2022
In 2050 (Gt/yr) By 2100 (Gt)
BECCS DACCS BECCS DACCS
<1.5°C 2.75 0.02 330 30
<2°C - - 291 19

4. 4
Geostorage in UNFCCC since 1996

5. Acceptance and standard-setting takes time
Updated from: Zakkour, P. D, Cook, G., Carter, A., Streck, C. and Chagas, T. (2011) Assessment of climate finance sources to accelerate carbon capture and storage
deployment in developing countries. A report by Carbon Counts and Climate Focus for the World Bank. 16th June 2011. Washington D.C.
COP11/CMP1
request for
workshop.
Parties submit
views
SBSTA24:
2 x CCS workshops
EB26:
Legal/tech
issues
COP12/CMP2
More proposals;
capacity bldg,
Parties submit
more views.
COP14/CMP4 to
decide
SBSTA27: request
2 x synthesis
reports, plus more
submissions from
Parties
2 x synthesis
reports
COP14/CMP4:
EB to recommend
COP/MOP what to
do. Use Experts
EB50
recommend
Positives &
Negatives for
CCS
Expert Report
produced for EB
SBSTA32:
Continued
discussion
of draft text.
2012
SBSTA31:
Draft text with
bracketed
for/against
inclusion
Two NM & PDDs
submitted
EB22:
boundaries,
leakage,
permanence.
Need COP
guidance
2005
Expert
Workshop:
Considered
technical and
legal issues
for CCS CDM
Synthesis
Report #3:
Based on
submissions
requested at
COP16
SBSTA36:
Considered:
1.Transboundary
issues
2.Global CER
reserve
COP18/CMP8
Transboundary
and Global CER
reserve decision
COP17/CMP7
Agrees
modalities and
procedures for
CCS in the CDM
COP15/CMP5:
“New” list for SBSTA
to work on and
advise CMP what to
do
More submissions
from Parties
COP16/CMP6
Decides CCS
eligible provided a
number of issues
resolved. New
M&Ps for CCS to
be developed by
COP17
CCS CDM
templates:
CCS CDM WG:
Established at
EB68
2022
[NOT MUCH]
….CCS in CDM was a long (and perhaps forgotten) journey…
2007 2011
2010
2008 2009
2005

6. Several factors drove the collapse
COP11/CMP1
request for
workshop.
Parties submit
views
SBSTA24:
2 x CCS workshops
EB26:
Legal/tech
issues
COP12/CMP2
More proposals;
capacity bldg,
Parties submit
more views.
COP14/CMP4 to
decide
SBSTA27: request
2 x synthesis
reports, plus more
submissions from
Parties
2 x synthesis
reports
COP14/CMP4:
EB to recommend
COP/MOP what to
do. Use Experts
EB50
recommend
Positives &
Negatives for
CCS
Expert Report
produced for EB
SBSTA32:
Continued
discussion
of draft text.
2012
SBSTA31:
Draft text with
bracketed
for/against
inclusion
Two NM & PDDs
submitted
EB22:
boundaries,
leakage,
permanence.
Need COP
guidance
2005
Expert
Workshop:
Considered
technical and
legal issues
for CCS CDM
Synthesis
Report #3:
Based on
submissions
requested at
COP16
SBSTA36:
Considered:
1.Transboundary
issues
2.Global CER
reserve
COP18/CMP8
Transboundary
and Global CER
reserve decision
COP17/CMP7
Agrees
modalities and
procedures for
CCS in the CDM
COP15/CMP5:
“New” list for SBSTA
to work on and
advise CMP what to
do
More submissions
from Parties
COP16/CMP6
Decides CCS
eligible provided a
number of issues
resolved. New
M&Ps for CCS to
be developed by
COP17
CCS CDM
templates:
CCS CDM WG:
Established at
EB68
2022
[NOT MUCH]
2007 2011
2010
2008 2009
2005
Global
Financial
Crisis
COP15
outcome
Quantitative & qualitative
restrictions in the EU ETS
Collapse of
C-price
Existing crediting standards (American Carbon Registry; Alberta Offsets) are geographically
restricted

7. Markets are essential to unlock near-term low cost potential
7
0
25
50
75
100
125
150
0 20 40 60 80 100 120
Abatement cost
$/tCO2 avoided
Abatement potential
MtCO2 per year
Other
developing
Asia
Latin America
China
India
Other
Middle East
Africa
0
25
50
75
100
125
150
0 20 40 60 80 100 120
Abatement cost
$/tCO2 avoided
Abatement potential
MtCO2 per year
Iron & Steel
Coal power
Chemicals
Gas processing
Gas power
Cement
Source: MACCs from: Zakkour, P. D, Cook, G., Carter, A., Streck, C. and Chagas, T. (2011) Assessment of climate finance sources to accelerate carbon capture and
storage deployment in developing countries. A report by Carbon Counts and Climate Focus for the World Bank. 16th June 2011. Washington D.C.
Data based on IEA Technology Roadmap for CCS. © OECD/International Energy Agency, 2009. Note: Includes cost of capture, transport and storage

8. IETA’s High Level Criteria for Carbon Geostorage
8

9. 9
Asia-Pacific’s Potential for CCS
Role and Promise of Carbon Markets to Ignite Deployment?