IDEAS home Printed from https://ideas.repec.org/a/spr/intere/v57y2022i4d10.1007_s10272-022-1060-7.html
   My bibliography  Save this article

Sustainable Carbon Cycles: A Framework for the Ramp-up of Carbon Capture?

Author

Listed:
  • André Wolf

    (cep ∣ Centrum für Europäische Politik)

Abstract

With its communication “Sustainable Carbon Cycles”, the European Commission has opened a new chapter in European climate policy. For the first time, natural and artificial CO2 capture and storage technologies are to be covered jointly in an overarching regulatory approach. This article reviews the techno-economic potentials of the application fields envisaged by the Commission’s strategy, and defines central requirements for a future funding framework. The establishment of markets for carbon credits is identified as a basis for commercialising storage solutions. However, a prerequisite for efficient trading is to create transparency about the climate impact of the technology alternatives. Efforts to improve existing measurement concepts and test procedures as well as the development of certified standards are decisive steps on this path. The time horizon of carbon sequestration should be a crucial aspect in certification and monitoring. Double funding and unnecessary subsidisation of activities that are already profitable today need to be avoided.

Suggested Citation

  • André Wolf, 2022. "Sustainable Carbon Cycles: A Framework for the Ramp-up of Carbon Capture?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(4), pages 260-266, July.
    • Handle: RePEc:spr:intere:v:57:y:2022:i:4:d:10.1007_s10272-022-1060-7
    DOI: 10.1007/s10272-022-1060-7
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10272-022-1060-7
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10272-022-1060-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Kragt, Marit E. & Dumbrell, Nikki P. & Blackmore, Louise, 2017. "Motivations and barriers for Western Australian broad-acre farmers to adopt carbon farming," Environmental Science & Policy, Elsevier, vol. 73(C), pages 115-123.
    2. Sgouris Sgouridis & Michael Carbajales-Dale & Denes Csala & Matteo Chiesa & Ugo Bardi, 2019. "Comparative net energy analysis of renewable electricity and carbon capture and storage," Nature Energy, Nature, vol. 4(6), pages 456-465, June.
    3. Tas Thamo & David J. Pannell, 2016. "Challenges in developing effective policy for soil carbon sequestration: perspectives on additionality, leakage, and permanence," Climate Policy, Taylor & Francis Journals, vol. 16(8), pages 973-992, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cecilia Roxanne Geier & Enno Bahrs & Christian Sponagel, 2023. "Derivation and Evaluation of a Business Model to Promote Carbon Farming That Generates Valid Carbon Removal," Sustainability, MDPI, vol. 15(22), pages 1-30, November.
    2. Hasret Sahin & A. A. Solomon & Arman Aghahosseini & Christian Breyer, 2024. "Systemwide energy return on investment in a sustainable transition towards net zero power systems," Nature Communications, Nature, vol. 15(1), pages 1-15, December.
    3. Thamo, Tas & Addai, Donkor & Kragt, Marit E. & Kingwell, Ross S. & Pannell, David J. & Robertson, Michael J., 2019. "Climate change reduces the mitigation obtainable from sequestration in an Australian farming system," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    4. Jing-Li Fan & Zezheng Li & Xi Huang & Kai Li & Xian Zhang & Xi Lu & Jianzhong Wu & Klaus Hubacek & Bo Shen, 2023. "A net-zero emissions strategy for China’s power sector using carbon-capture utilization and storage," Nature Communications, Nature, vol. 14(1), pages 1-16, December.
    5. Jacques, Pierre & Delannoy, Louis & Andrieu, Baptiste & Yilmaz, Devrim & Jeanmart, Hervé & Godin, Antoine, 2023. "Assessing the economic consequences of an energy transition through a biophysical stock-flow consistent model," Ecological Economics, Elsevier, vol. 209(C).
    6. Regan, Courtney M. & Connor, Jeffery D. & Summers, David M. & Settre, Claire & O’Connor, Patrick J. & Cavagnaro, Timothy R., 2020. "The influence of crediting and permanence periods on Australian forest-based carbon offset supply," Land Use Policy, Elsevier, vol. 97(C).
    7. Hwangbo, Soonho & Heo, SungKu & Yoo, ChangKyoo, 2022. "Development of deterministic-stochastic model to integrate variable renewable energy-driven electricity and large-scale utility networks: Towards decarbonization petrochemical industry," Energy, Elsevier, vol. 238(PC).
    8. Lee, Sanghun & Kim, Taehong & Han, Gwangwoo & Kang, Sungmin & Yoo, Young-Sung & Jeon, Sang-Yun & Bae, Joongmyeon, 2021. "Comparative energetic studies on liquid organic hydrogen carrier: A net energy analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 150(C).
    9. Shalini Kumari & Sasadhar Bera, 2023. "Developing an emission risk control model in coal‐fired power plants for investigating CO2 reduction strategies for sustainable business development," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 842-857, January.
    10. Meenakshi Sharma & Rajesh Kaushal & Prashant Kaushik & Seeram Ramakrishna, 2021. "Carbon Farming: Prospects and Challenges," Sustainability, MDPI, vol. 13(19), pages 1-15, October.
    11. Gallo Cassarino, Tiziano & Barrett, Mark, 2022. "Meeting UK heat demands in zero emission renewable energy systems using storage and interconnectors," Applied Energy, Elsevier, vol. 306(PB).
    12. Panitas Sureeyatanapas & Kanittha Yodprang & Viganda Varabuntoonvit, 2021. "Drivers, Barriers and Benefits of Product Carbon Footprinting: A State-of-the-Art Survey of Thai Manufacturers," Sustainability, MDPI, vol. 13(12), pages 1-19, June.
    13. Radhanon Diewvilai & Kulyos Audomvongseree, 2022. "Possible Pathways toward Carbon Neutrality in Thailand’s Electricity Sector by 2050 through the Introduction of H 2 Blending in Natural Gas and Solar PV with BESS," Energies, MDPI, vol. 15(11), pages 1-26, May.
    14. Dean T. Thomas & Gonzalo Mata & Andrew F. Toovey & Peter W. Hunt & Gene Wijffels & Rebecca Pirzl & Maren Strachan & Brad G. Ridoutt, 2023. "Climate and Biodiversity Credentials for Australian Grass-Fed Beef: A Review of Standards, Certification and Assurance Schemes," Sustainability, MDPI, vol. 15(18), pages 1-33, September.
    15. Hongpeng Guo & Yujie Xia & Chulin Pan & Qingyong Lei & Hong Pan, 2022. "Analysis in the Influencing Factors of Climate-Responsive Behaviors of Maize Growers: Evidence from China," IJERPH, MDPI, vol. 19(7), pages 1-17, April.
    16. Parisa, Zack & Marland, Eric & Sohngen, Brent & Marland, Gregg & Jenkins, Jennifer, 2022. "The time value of carbon storage," Forest Policy and Economics, Elsevier, vol. 144(C).
    17. He, Zhenglei & Liu, Chang & Wang, Yutao & Wang, Xu & Man, Yi, 2023. "Optimal operation of wind-solar-thermal collaborative power system considering carbon trading and energy storage," Applied Energy, Elsevier, vol. 352(C).
    18. Frédéric Babonneau & Javiera Barrera & Javiera Toledo, 2021. "Decarbonizing the Chilean Electric Power System: A Prospective Analysis of Alternative Carbon Emissions Policies," Energies, MDPI, vol. 14(16), pages 1-16, August.
    19. Guang Han & Meredith T. Niles, 2023. "Interested but Uncertain: Carbon Markets and Data Sharing among U.S. Crop Farmers," Land, MDPI, vol. 12(8), pages 1-18, August.
    20. Lin-Ju Chen & Zhen-Hai Fang & Fei Xie & Hai-Kuo Dong & Yu-Heng Zhou, 2020. "Technology-side carbon abatement cost curves for China’s power generation sector," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 25(7), pages 1305-1323, October.

    More about this item

    Keywords

    Q18; Q54; Q55;
    All these keywords.

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:intere:v:57:y:2022:i:4:d:10.1007_s10272-022-1060-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.