Unlocking carbon capture and storage projects under the Emissions Reduction Fund
30 Jun 2021
Public submissions now open for Australia's draft carbon capture and storage methods.
This week the federal government released for public consultation a draft carbon capture and storage (CSS) method for the Emissions Reduction Fund (ERF). CCS is one of five priority methods being developed in 2021 under the ERF and it is a priority area under the government’s Technology Investment Roadmap.
The International Energy Agency and the Intergovernmental Panel on Climate Change both regard carbon capture technologies as essential to achieve the goals of the Paris agreement.
Fast-tracking the development of new ERF methods was a recommendation of the King Review and will help achieve a greater range of low-cost abatement through the scheme.
Through the 2020-21 federal budget, the government committed more than $40 million of additional resourcing to the Clean Energy Regulator to halve the development time of new ERF methods to less than 12 months.
In addition to CCS, new methods being developed and revised this year include blue carbon, soil carbon, biomethane or green gas, and plantation forestry.
The Clean Energy Regulator develops priority methods through a co-design process with industry, potential end-users, scientists and technical experts, and the Emissions Reduction Assurance Committee.
Industry and other stakeholders are encouraged to participate to finalise the development of the CCS method.
To contribute to the consultation process, visit: https://consult.industry.gov.au/cer/carbon-capture-and-storage-draft-method
Submissions are open until July 27, 2021.