Industry Task Force
Carbon Capture, Use and Storage
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About the Task Force
Carbon Capture, Usage and Storage is a suite of technologies that are vital to achieving a net-zero emissions economy. The Carbon Capture, Usage and Storage Task Force is chaired by Dr. Nick Cooper, CEO Storegga, and is a coalition of companies ranging from technology and project developers to professional and financial services, all committed to realising the potential of engineered carbon removal solutions and transforming what is currently a nascent sector into the mainstream. The Task Force is committed to improving the understanding of Carbon Capture, Usage and Storage technologies, accelerating their deployment and the development of demand for carbon dioxide abatement and removal services with a focus on supporting customers to address their emission profiles.
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What is Carbon Capture, Utilisation and Storage (CCUS) and why is it important?
Carbon capture, utilisation and storage is a suite of technologies involving the capture of carbon dioxide from point sources such as power generation or industrial facilities, or directly from the atmosphere, which is then either transported to an offshore geological storage site for permanent sequestration (CCS) or to a utilisation facility where it can be used for the production of synthetic fuel or low-carbon building materials (CCU). CO2 utilisation is an exciting opportunity towards a circular economy, but the volumes involved are modest and will only address a small portion of the CO2 required to reach climate targets.
CCUS Task Force
Key Resources
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Pocket Guide 18 September 2023 CCUS Pocket Guide for Members
All pathways that limited global warming to 1.5 degrees involve substantial levels of carbon removals from 2020. The Sustainable Markets Initiative's CCUS Pocket Guide sets out the role of carbon removals, technology available and what needs to be done.
Accounting Frameworks
The members of the Carbon Capture, Usage and Storage Task Force propose a new framework for carbon reporting and policy instruments that aims to create and mobilise demand for CO2 abatement and removal services as an enabler to net zero. This introduces the concept of a new asset class - Carbon Storage Unit (CSU), that allows the benefits of storing CO2 to be attributed appropriately and uniquely to those activities which can drive to Net Zero. The framework also introduces the concept of a Carbon Storage Obligation (CSO) and how it can be implemented.
Nick Cooper, CEO Storegga & Chair of the CCUS Task ForceWe are on the cusp of a green industrial revolution which could provide a solution to accelerate the impact of nature-based solutions.
Carbon Capture, Usage and Storage is a vital component of this revolution to address current emissions from energy intensive industries as well as historic and hard-to-abate emissions using Direct Air Capture. This suite of technologies will deliver a major leap forward as we tackle global issue of climate change. The collective effort and spirit of this coalition of the willing has the potential to move mountains on our transition to net zero.
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