1.2 G8 objective
1.2.1 What does theobjective imply?
At the 2008Hokkaido Toyako Summit in Japan, the G8 committed to supporting the recommendations of the IEA and the Carbon Sequestration Leadership Forum (CSLF) to launch 20 large scale CCS demonstration projects globally by 2010, taking into account varying national circumstances. The purpose of this commitment is to support technology development and cost reduction to enable the broad deployment of CCS by 2020 (Group of Eight 2008).
The G8 objective is to launch 20 large scale CCS demonstration projects globally by 2010, taking into account varying national circumstances, with a view to beginning broad deployment of CCS by 2020
This study refers to these types of CCS projects as commercial scale, integrated projects which are defined as:
- projects storing or proposing to store 1 Mtpa or greater of CO2 using the metric suggested by the G8, IEA and CSLF (2007);
- CCS projects that are integrated, that is, combines the CO2 capture, transport and storage technologies;
- considering any carbon capture technologies (pre-combustion, post-combustion and oxy-fuel), transport and storage technologies;
- applying CCS to large stationary sources of CO2 emissions to atmosphere including fossil-fuel power generation, cement, iron and steel, aluminium and chemical production; and
- projects deployed across multiple geographic regions around the world.
1.2.2 Can the G8 objective be achieved?
Arguably, yes. The decarbonisation of society in order to avoid dangerous climate change will require an energy revolution. While the G8 objective is ambitious, the technologies are available today and have been demonstrated in industries such as natural gas processing although they have not been integrated at commercial scale for fossil-fuelled power generation.
Arguably, the G8 objective can be met
Proponents of CCS projects will face significant challenges, but the G8 objective can be achieved through a three point plan involving:
- governments committing to support CCS projects through direct funding, introducing market based pricing mechanisms to assign a value to carbon, taking on long-term storage liability and underwriting the establishment of critical infrastructure;
- all CCS stakeholders educating the broader public that the technology must be deployed as part of a portfolio of climate change mitigation responses if the world is to avoid dangerous climate change;
- all nations, developed and developing, adopting CCS as part of their (GHG) emissions reduction strategies where practicable.
Comprehensive, coordinated and disciplined leadership involving governments, industry and the community, will be needed
To achieve this ambitious goal, comprehensive, coordinated and disciplined leadership involving governments, industry and the community at national and international levels will need to be demonstrated. Given the magnitude of the challenge all CCS stakeholders will need resolve and stamina if the G8 objective is to be achieved.