Carbon Capture and Storage
Chapter 16: The Political Economy of Carbon Capture and Storage
Published:29 Nov 2019
Special Collection: 2019 ebook collection , ECCC Environmental eBooks 1968-2022Series: Energy and Environment
D. M. Reiner, 2019. "The Political Economy of Carbon Capture and Storage", Carbon Capture and Storage, David Reiner, Mai Bui, Niall Mac Dowell
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Most analyses show that deployment of carbon dioxide capture and storage (CCS) technologies is central to any ambitious decarbonisation efforts, but the political economy of developing these technologies has proven to be difficult at the international, national and subnational level. Full-scale projects have recently emerged in several leading countries, but the project pipeline has already slowed, whereas all deployment pathways imagined a rapid scaling up. Rollout has been hampered by economic and scale challenges, the lack of advocates among industry and environmentalists, the perception that the technology was in a zero-sum game for funding with other low-carbon technologies and the lack of robust, long-term government support mechanisms. In rare circumstances, an effective champion has advanced particular projects, but a robust deployment pathway depends on a set of incentive mechanisms that will ultimately enable rollout. Many of the projects that have emerged are not in regions that actively support strong climate action but have done so for a constellation of factors, and may, of course, help drive down costs. Ultimately though, only a shift in the seriousness of wider efforts to address climate change will provide the necessary impetus to change the political economy dynamics that have hampered deployment of CCS.