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An International Regulatory Framework for Risk Governance of Carbon Capture and Storage

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Author Info
Vajjhala, Shalini () (Resources for the Future)
Gode, Jenny
Torvanger, Asbjørn

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Abstract

This essay was prepared as part of a workshop on carbon capture and sequestration held by the International Risk Governance Council (IRGC) in Washington, DC, from March 15–16, 2007. The goal of the workshop was to bring together researchers, practitioners, and regulators from Europe, the United States, and Australia to outline the attributes that an effective regulatory regime for carbon capture and storage should possess. This essay focuses specifically on providing an overview of eight fundamental elements that we believe any effective international and national regulatory structure must address: 1) classification of carbon dioxide (CO2); 2) oversight of CO2 capture and storage; 3) site ownership and storage rights; 4) site operation and management; 5) long-term management and liability; 6) regulatory compliance and enforcement; 7) links to CO2 markets and trading mechanisms; and 8) risk communication and public acceptance. This essay is one of 12 collected for the workshop, and the recommendations herein are the views of the authors and do not reflect the views of their agencies, the IRGC, or specific workshop discussions.

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Paper provided by Resources For the Future in its series Discussion Papers with number dp-07-13-rev.

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Date of creation: 15 May 2007
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Handle: RePEc:rff:dpaper:dp-07-13-rev

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Related research
Keywords: carbon sequestration; geologic storage; risk; regulation;

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Find related papers by JEL classification:
Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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  1. Minh Ha-Duong & David Keith, 2003. "Carbon storage: the economic efficiency of storing CO2 in leaky reservoirs," Post-Print halshs-00003927_v1, HAL. [Downloadable!]
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