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Carbon capture and sequestration: how much does this uncertain option affect near-term policy choices?

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  • Laurent Gilotte

    () (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - Ecole des Ponts ParisTech - Ecole Nationale du Génie Rural des Eaux et Forêts)

  • Valentina Bosetti

    (FEEM - Fondazione Eni Enrico Mattei - Aucune)

Abstract

Policy makers as well as many economists recognize geological Carbon Capture and Sequestration (CCS) as a key option to avoid costly emission reduction. While an extreme perspective is to envision CCS as a magic bullet to solve the issue of climate change, the economics perspective is more balanced and see it as a part of a portfolio of mitigation actions. Besides, as any novel mitigation technology, CCS can be implemented with a twofold purpose; on one side it can substitute some other technological efforts to reach a given environmental target. On the other side, it offers the opportunity to go for additional emission reductions andreach a "safer" climate target. In order to balance these twopossible utilizations of CCS and assess their respective effects onearly policystrategies, we undertake a twofold numerical experiment. First, a cost-efficiency analysis is undertaken where CCS sole effect is substitution of other efforts. This is followed by a cost-benefit analysis where both purposes have to be balanced. We find that future availability of CCS is less a reason to relax near-term abatement efforts than what could be inferred from previous analyses. Moreover, cost-benefit analysis indicates that the environmental target should be more ambitious when CCS is included in the picture.

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number halshs-00007298.

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Date of creation: 16 Jun 2006
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Handle: RePEc:hal:wpaper:halshs-00007298

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00007298/en/
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Related research

Keywords: Climate Change; Uncertainty; Sequestration; Cost-benefit analysis;

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