Policies & Incentives
The objectives of the CCP Policy and Incentives team are:
- Qualification of technical standards to enable consistent deployment of secure CCS
- Providing technological and economic insights needed by governments, regulators, environmental groups and other stakeholders
The CCP has increased its engagement with stakeholder groups and is now seen as a key technical authority on the subject of CCS, particularly in response to increased interest in CCS from policy makers.
Two key economic evaluations by the CCP have been carried out to address the issue of financing CO2 pipeline infrastructure, and to assess HSE regulations and risks for natural gas, sour gas and CO2 pipelines.
Other important work has included:
- Presentations at key conferences and the creation of peer-reviewed papers on the technical aspects of storage
- Publication of a comprehensive report - 'A Technical Basis for CO2 Storage' - aimed at technical and non-technical stakeholders, that outlines technical recommendations for safely storing CO2
- Sponsorship of and participation in US and European forums, addressing the safety of CO2 storage
The Phase Two Advisory Board has recognized that this work has informed environmental and technical communities and recommends that "the Phase Three SMV program becomes pro-active in providing information on CCS to the media and the general public, to further build public understanding of this important CO2 mitigation option." A study into economic incentives will also be conducted to highlight the specific gaps and needs in current policy.