Resources

Journal Publications

The Case For Mandatory Sequestration – Allen et al.

Summary

The fact that cumulative carbon dioxide emissions are more important than annual emission rates calls for a fresh approach to climate change mitigation. One option would be a mandatory link between carbon sequestration and fossil fuel extraction.

Certificates for CCS at reduced public cost: securing the UK’s Energy and Climate Future – Allen et al.

Summary

The North Sea offshore oil and gas industry requires re-invention through lower cost utilisation and identification of new sources of revenue. UK climate policy requires a substantial decrease of carbon emissions while reducing the associated costs and regulatory burden on industry, taxpayers and consumers. These joint objectives can be secured by providing the Oil and Gas Authority with the power to require fossil fuel companies to sequester carbon dioxide equivalent to a small but rising fraction of the fossil carbon they extract or import into the UK.

Can CCS and NET enable the continued use of fossil carbon fuels after CoP21? – Haszeldine

Summary

Both CCS and negative emission technology (NET) are now required to manage the carbon stock in earth’s atmosphere and oceans. Existing policies have failed to develop large cost CCS mega-projects. Carbon certificates could be used to link the extraction of carbon to an obligation to store a percentage of emissions.

Negative emissions technologies and carbon capture and storage to achieve the Paris Agreement commitments – Haszeldine et al.

Summary

In order to keep warming below 2oC, 6000MtCO2/year must be captured by 2050. An analysis of the build out rate of CCS projects to 2050 suggests that the rate is 100 times too slow to reach this target. This paper advocates two actions for countries to address this. The first is to commercially assess CO2 storage, the second to assign a certificate of CO2 storage onto producers of fossil carbon mandating a progressively increasing proportion of CO2 to be stored.

CO2 Storage Certificates for Norway: Assesssing the Viability of a Supply-Side Policy to Incentivize CSS – Mitchell-Larson

Summary

This report assesses the use of CO2 certificates to encourage deployment of CCS in Norway. By modelling the direct costs of CCS Certificates for Norway, a net fossil carbon exporter, the report finds that a 1.5oC compliant sequestration pathway could be achieved at a cost of 3-13% of cumulative expected fossil fuel profits over the 2020-2045 period.

Talks

Carbon Take Back Obligation (CTBO) – Kuijper

Summary

This presentation describes the current situation of stationary fossil fuel use as a share of, the growing, global energy consumption. It then advocates use of a Carbon Take Back Obligation (CTBO) to drastically increase the speed of implementation of CCS technologies.

CCS Certificates: policy overview with insights from Norway – Mitchell-Larson & Allen

Summary

This presentation describes how CCS Certificates could be utilised in the economy of Norway, a country that exports fossil fuels amounting to more than ten times its domestic consumption each year. In this example, CCS would cost 5-21% of Norway’s 2020-2045 petroleum profits.

CO2 Storage Crediting as a Mechanism
under the Paris Agreement – Heidug

Summary

This presentation advocates the use of a combination of Certified Emissions Reductions (CERs) and Carbon Storage Units (CSUs) to overcome the challenges facing CCS adoption, namely: The limited number of scenarios in which it is currently economically viable; lack of recognition of its importance in Climate Policies and the lack of a “store side” price signal.

Reports

Carbon Takeback Obligation – A Producers Responsibility Scheme on the way to a Climate Neutral Energy System

Summary

This report presents the
Carbon Takeback Obligation (CTBO). The approach regulates the carbon content of fossil hydrocarbons brought to the market in order to promote the transition towards renewable sources of energy production.

Policy Mechanisms to support the largescale deployment of Carbon Capture and Storage (CCS) – Element Energy & Vivid Economics

Summary

This report assesses the reasons why, despite the central role CCS plays in many deep decarbonisation trajectories, CCS has failed to build momentum. After identifying the problems, the report suggests policy and market mechanisms to stimulate investment across the stages of deployment.

A Mechanism for CCS in
the Post-Paris Era

Summary

This paper proposes an incentive mechanism for CCS. The mechanism is built upon a tradeable asset class specific to CCS: the carbon storage unit (CSU). 1 CSU would represent a verified tonne of Carbon stored or sequestered in a geological reservoir. Crucially, this system would be able to both work in tandem with emissions reduction-based policies and create a price signal to incentivise the building of CCS systems.

Investment Frameworks for Development of CCUS in the UK – CCUS Advisory Group

Summary

This report discusses different business models for Carbon Capture Utilisation and Storage (CCUS). The report endorses 7 variations on the base-case scenario, which represents the creation of a private sector owned CO2 Transport and Storage business. There is also a discussion of the risks involved in the business models.

Carbon Capture and Storage – Low Carbon Technology Partnerships Initiative

Summary

Contributing to accelerating the deployment of CCS with a global goal of 1GtCO2 being stored annually by 2030 through an innovative funding solution and a collaborative effort to map CO2 storage potential.

Lowest Cost Decarbonisation for the UK: The Critical Role of CCS – Parliamentary Advisory Group on CCS

Summary

A UK Climate Policy designed to increase the uptake of CCS would establish a series of government agencies, economic regulations and certification as well as a CCS Obligation system from the late 2020s.

A Future Direction for the EU ETS

Summary

The current trajectory of the EU Emissions Trading Scheme (ETS) suggests reaching Net Zero by 2058. This paper proposes establishing 2050 as the year beyond which no further emissions allowances are issued by EU Governments, a new unit of measurement for a tonne of CO2 removed from the atmosphere and sequestered and a change to the compliance structure such that one removal unit could be surrendered against one tonne of CO2 emitted.

Industrial carbon
capture business
models – Element Energy

Summary

The International Energy Agency estimates that even a modest share of the global Carbon Capture Utilisation and Storage (CCUS) market could add between £5bn and £9bn to UK GVA by 2030. This report performs an in-depth analysis of 6 promising business models for CCUS, including a CCS Obligation.

Blog Posts

Encouraging CCS Deployment

Summary

In this blog post, the Chief Climate Change Advisor for Shell discusses mechanisms put forward by participants at a KAPSARC workshop to improve the deployment of CCS. The central theme of these mechanisms is a temporally increasing obligation to deploy CCS against future emissions.

News Articles

Who should finance CCS? – Temperton

Summary

The NER300 mechanism within the EU Emissions Trading System has failed in its intended goal of financing carbon capture and storage. It would be better to put the obligation on fossil fuel suppliers rather than the power generators.

CarbonTakeback.org is an information resource supported by Oxford Net Zero and the ClimateWorks Foundation, although the views expressed herein are those of the site authors