Message from the Chairman
Three years on from our formation and theis at the forefront of worldwide developments to accelerate the uptake of CCS technology.
You will see in this Annual Review that we are engaged in progressing CCS developments across many disciplines and countries. I am pleased to report that the number of projects in operation or under construction continues to increase, year on year. Eight large-scale CCS projects are already sequestering up to 23 million tonnes of CO2 each year. When the eight projects currently under construction go live by 2015, that figure will increase to around 36 million tonnes of CO2 per year.
Nevertheless, there are huge challenges ahead if we are to meet the goals set out at the 2009 Copenhagen climate talks to hold the world’s temperature rise to 2°C. In its latest report, the International Energy Agency (IEA) urged decision makers to renew their focus on critical technologies that can help achieve this goal.
This context underlines the importance of the work of the Institute as a global champion for CCS. I am pleased therefore, that this review demonstrates close involvement with our Members and stakeholders across all the disciplines needed to progress CCS. Our feedback indicates that our Members place high value on this expert advice. We have been pleased to be invited to be involved in manyof major projects as well as working with government agencies in several countries on capacity development. Of course, much of our expertise depends upon active collaboration on projects and developments around the world, most of which involve Members.
As our Members will know, we are well underway with an extensive consultation process to define our priorities over the next five years. I believe this is the window of opportunity to ensure that the vital role of CCS in mitigating climate change can be recognised, supported and delivered. Indeed, if CCS is to achieve the IEA’s forecast of delivering 14 per cent of abatement required to meet the 2oC target, then it will be crucial that the industry is able to use the best available expertise and that the right policy and regulatory settings are in place. We are confident we can make a strong contribution to this, helping to create the right environment and further developing our role as a global advocate for CCS.
In this regard, it is clear that no single technology or fuel will solve the challenge, especially if we are to do so at the lowest possible cost. Only by allowing market players to make rational choices about technology development and deployment will we be able to address climate change at least cost. Consequently, it is important that governments around the world establish energy and emission policy settings that are technology neutral, robust, stable and support the efficient operation of energy (including electricity) markets. Such an approach will support a wide range of abatement technologies being developed and then deployed at the time and in the places they are most needed.
Over the coming year, we will be moving to a Member-driven and funded company and this is a core part of our new business strategy. We want to thank the Australian Government for establishing and supporting the Institute with funding for our first years. We look forward to continuing to support our Members including the corporate, not-for-profit and government sectors around the world.
This will be my final year as Chairman, and I would like to take this opportunity to thank all of our Members who have contributed so much through their dedication and support for CCS. I would also like to thank our staff who have also grown in capability and shown great dedication and loyalty since we started.
In closing, I would like to thank our CEO Brad Page for his leadership in implementing our strategy to build on our track record and accelerate the CCS agenda in the years ahead.
Russell Higgins AO, Board Chair
Global CCS Institute