In both its written submission and evidence provided to the Senate Environment and Communications Legislation Committee into the Clean Energy Finance Corporation Amendment (Carbon Capture and Storage) Bill, CO2CRC provided strong financial, scientific and environmental reasoning why the exclusion on CCS being funded by the CEFC should be lifted.
Ms Tania Constable, CO2CRC CEO pointed out that a combination of financial arrangements, including the lifting on the prohibition on the CEFC, would further develop the industry in Australia, help support the deployment of the technology abroad, and provide safeguards to the country’s crucial exports.
Tackling the ill-conceived notion that CCS is either in its scientific infancy, or non-operational Ms Constable pointed to the 22 projects currently either operating, or nearing completion globally. Importantly, these projects expand beyond reliable very low emissions energy production into mitigating the emissions from industrial sources like gas production, steel and cement which contribute significantly to greenhouse gas emissions.
Ms Constable said, “The business case for CCS in Australia stacks up. If the correct signals were sent to the market that the CEFC had reviewed and supported proposals, I can see a number of feasible CCS projects in the near-term.”
Providing evidence on the same panel as Ms Constable were Brad Page, CEO of the Global CCS Institute and Noel Simento Managing Director of ANLEC R&D.
The Committee will provide its findings in early May.
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For further information, or to arrange an interview with Ms Constable, please contact:
Robert Hilkes, Marketing & Communications Manager, Robert.firstname.lastname@example.org, or 0413 338 144.