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Trading Carbon : November 2011
42 CARBON CAPTURE AND UTILISATION of chemicals and fuels. CCU is one possible way to achieve this and it is important that we investigate its potential now," said Peter Styring, one of the report's authors. The UK has laid down deep GHG emission reduction targets in legislation. In addition to climate change mitigation, economic stability, sustainability of UK industry to maintain jobs and energy security are important political themes. CCS in some sectors provides cost-effective emission reductions, but has some shortcomings. It has high investment costs, the potential storage capacity has uncertainties, public resistance to CCS has been increasing and it is costly to transport captured CO2 to storage sites. Moreover, if the UK is to maintain and improve on its current standard of living, access to a secure supply of chemical feedstocks and fuels is essential. Although only a partial solution to the CO2 problem, under some conditions November 2011 www.pointcarbon.com WhyNot UseIt? PETER STYRING, DAAN JANSEN, HELEEN DE CONINCK, HANS REITH AND KATY ARMSTRONG OUTLINE THE POTENTIAL BENEFITS FOR GREENHOUSE GAS REDUCTION FROM CARBON CAPTURE AND UTILISATION Capture and storage of carbon dioxide (CO2) is defined by most international bodies as the capture of the gas from point sources combined with its geological storage. While carbon capture and storage (CCS) can make a contribution to greenhouse gas (GHG) abatement, there is also the possibility of CO2 utilisation in the production of construction materials and synthetic fuels or as a feedstock in the chemical industries. Running in parallel to CCS, carbon capture and utilisation (CCU) of CO2 can contribute to a green economy. A recent UK policy document* has highlighted options for CCU within a changing environmental landscape, while at the same time identifying some of the barriers to development. "With depleting fossil fuels reserves and a drive to significantly reduce CO2 emissions, it is essential that we are forward looking in order to maintain security in the supply JACKY NAEGELEN/REUTERS
December - January 2011