International Energy Agency - Carbon Capture

Carbon Capture

IEA promotes reduction of CO2 emissions for both conventional fossil-fuel CCS and for bioenergy with CCS (BECCS) by working with member and partner nations on development of cost effective and efficient international and national energy policies including carbon capture and storage (CCS), trading mechanisms and clean low-carbon technologies. The 2012 IEA report entitled "A Policy Strategy for Carbon Capture and Storage" argues for comprehensive policy mechanisms that include setting a market price on CO2 emissions as key to reduction of CO2 emissions. "n contrast to renewable energy or applications of energy efficiency, CCS generates no revenue, nor other market benefits, so long as there is no price on CO2 emissions. It is both costly to install and, once in place, has increased operating costs. Effective, well-designed policy support is essential in overcoming these barriers and the subsequent deployment of CCS technology." "