The International Energy Agency (IEA) (2008) suggests that carbon capture and storage (CCS) can potentially make a significant contribution to reduce anthropogenic carbon dioxide (CO2) emissions to the atmosphere by 2050. As shown in Figure 2-1, the application of CCS technologies to power generation and other industrial activities can potentially contribute up to 19 percent emissions reduction by 2050. This is particularly important as the consumption of fossil fuels (particularly coal) is expected to continue to provide a large portion of the global energy demand over the coming decades.
Figure 2-1 Contribution of energy technologies to reduce CO2 emissions by 50 percent by 2050 Source: IEA Energy Technology Perspective, 2008
The importance of CCS as a strategy for mitigating climate change was reinforced by the Group of Eight (G8) at its 33rd meeting in Hokkaido on 8 July, 2009. There, theLeaders affirmed their support for the launching of 20 large-scale CCS demonstration projects globally by 2010 with a view to beginning broad deployment of CCS by 2020.
The fundamental goal of theis to accelerate the commercial deployment of CCS projects. As such, an early focus of its activities is to work with others to achieve the objective.