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Paris Agreement CCS Policy and Mechanisms

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  • KAPSARC, King Abdullah Petroleum Studies and Research Center

    (King Abdullah Petroleum Studies and Research Center)

Abstract

Carbon capture and storage (CCS) is one of a limited number of ways to reach the Paris Agreement’s objective of net-zero carbon dioxide (CO2) emissions in the second half of this century. The world’s remaining carbon budget of 900 gigatonnes (Gt) will become depleted around 2040 at the current emissions rate of some 40 Gt per year. Deploying CCS at scale provides an economically feasible way of achieving the net-zero objective. A recent KAPSARC publication, “A Mechanism for CCS in the Post-Paris Era,” developed the concept of a new CCS-specific technology mechanism under Article 6 of the Agreement that could overcome historical barriers to the deployment of CCS. This would take the form of a new tradable asset or carbon storage unit (CSU) representing one verified tonne of CO2 stored or sequestered geologically with no intrinsic emissions reduction value.

Suggested Citation

  • KAPSARC, King Abdullah Petroleum Studies and Research Center, 2019. "Paris Agreement CCS Policy and Mechanisms," Workshop Briefs ks--2019-wb27, King Abdullah Petroleum Studies and Research Center.
  • Handle: RePEc:prc:wbrief:ks--2019-wb27
    DOI: 10.30573/KS--2019-WB27
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    File URL: https://www.kapsarc.org/research/publications/paris-agreement-ccs-policy-and-mechanisms/
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    Keywords

    Paris agreement; Carbon Capture and Storage (CCS); Carbon Dioxide emissions (CO2);
    All these keywords.

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