CO2 can be stored in these vast reservoirs for thousands to millions of years.Ībout a sixth of Australia’s emissions come from industries including cement, steel, and aluminium. The reservoirs are capped with an impermeable layer of rock that stops the CO2 from moving upwards. These microscopic spaces, called pores, hold the CO2 securely. These are either depleted hydrocarbon reservoirs or saline reservoirs with a porous rock such as sandstone. This helps reduce the amount of CO2 currently in, or being released into, the atmosphere.Ĭaptured CO2 can be compressed, transported to a well, and injected into deep underground reservoirs. The Final Results of the 2023 Net-Zero Australia study indicate all scenarios for Australia to reach net zero by 2050 will require the development of a large CCUS industry, capable of storing 80 to 1000 Mt of CO2 per year.Ĭarbon capture, utilisation and storage (CCUS) is a proven technology that captures and stores or utilises CO2. This is from the current level of 45 megatons (Mt) of CO2 each year, to 1.2 gigatonnes (Gt) per year in 2030, and to 6.2 Gt per year in 2050. The IEA World Energy Outlook 2022 notes that under a net zero emissions by 2050 scenario, global CCUS facilities will have to increase their capacity. This is why the deployment of engineered solutions such as large-scale carbon capture, utilisation and storage (CCUS) continues to be important. All global modelled pathways that limit warming to 1.5☌ (>50%), involve rapid and deep and in most cases immediate greenhouse gas emission reductions in all sectors, including transitioning to very low- or zero-carbon energy sources, such as renewables or fossil fuels with CCS. This could be at the expense of vital industries such as agriculture. Excessive reliance on land-based carbon credits will inevitably lead to competition with other land use options. But they are unable to deliver at the magnitude required to meet our targets. Nature-based solutions – such as reforestation and soil carbon farming – will contribute towards Australia’s emissions reduction efforts. However, several decades of experience with geological storage projects across the world have shown that CO2 can be stored securely in the right setting with very low risk of leakage. Some of these technologies, such as carbon capture and storage (CCS), are viewed as contentious. It is widely recognised that a broad portfolio of emissions reduction and carbon management solutions is required to reduce and remove carbon dioxide (CO2) from the system to meet future emission targets. We are working to provide reliable, actionable, evidence-based research to help Australia and other nations meet net zero emissions by 2050 goals. To achieve the necessary mitigations, they are taking actions considering their specific needs, options, and circumstances. These sectors include energy (particularly electricity systems), industry, transport, and energy exports.ĭifferent countries and regions across the globe are responding to the common challenge of climate change through a variety of carbon management solutions. We’re working with industry, government and the research community to provide reliable, actionable, evidence-based research on CCUS.Īs we respond to the global impacts of climate change and transition to a net zero emissions future, key components of many sectors are having to evolve rapidly.Carbon capture, utilisation and storage (CCUS) can prevent the release of CO2 to the atmosphere, and, when combined with direct air capture, can even remove CO2 from the atmosphere.Science and technology solutions continue to be key in limiting global warming.Exemption would provide investors with the expectation that they can recoup the costs of their investments without submitting to mandatory access requirements. In the near term, CCS should be exempted from Part IIIA altogether to encourage private companies to invest in CCS. However, doing so would be difficult without foreknowledge of how the industry will develop, would generate significant compliance costs, and would also likely deter investment. Legislators could address the ambiguity of Part IIIA by creating an industry specific third-party access regime for CCS. This regulatory uncertainty results from the ambiguous criteria used to determine whether a piece of infrastructure is appropriate for third-party access. As it stands now, Australia’s third-party access law, Part IIIA of the Trade Practices Act, creates regulatory uncertainty for CCS infrastructure projects and will deter investment in the industry. Australia has not yet enacted CCS-specific regulations. CCS involves capturing carbon dioxide from large point-source emitters, such as power plants, and injecting it deep below ground level for disposal. Australia has identified carbon capture and geo-sequestration (“CCS”) as a partial solution to the problem of global warming.
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