This webinar will review the barriers to carbon capture and storage development and highlight the work of some key multilateral and bilateral initiatives, as well as the challenges they have faced. CCS must be implemented on a global scale if ambitious targets for greenhouse gas emissions are to be met, yet deployment of the technology over the last decade has been slow. CCS faces a number of unique barriers, including high upfront costs and investment risks, uncertain public and political support, and a need for new regulatory regimes.
To help overcome these barriers, a number of formal collaborations have been established between countries with commitments to CCS development. Multilateral initiatives such as the Carbon Sequestration Leadership Forum and the Clean Energy Ministerial have sought to share research experience, spread favourable policy and regulation, promote public acceptance, and build mutual trust on commitment to CCS. Several bilateral agreements, often between an OECD country and China, have also been created over the last decade with a view to promote investment and joint research into CCS.