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3 December 2007 - The start of a clean energy revolution is one step closer following the conclusion of a series of G8 workshops in Calgary, Canada today, according to coal industry associations World Coal Institute, the Carbon Capture and Storage Association and the Australian Coal Association.
Governments, industry, environmental NGOs and scientific representatives from over 15 key countries agreed to recommendations to accelerate the early global deployment of carbon dioxide capture and storage (CCS). CCS is acknowledged as the only technology that can significantly reduce emissions from fossil fuel power stations and other industrial plants.
Today's workshop concluded with an urgent call for a fleet of at least 20 industrial scale CCS projects worldwide by 2020.
There was also broad consensus by participants that market mechanisms, like emissions trading will not be sufficient to mobilise early CCS projects and government assistance will be required to address the current financial gap to accelerate commercial deployment of CCS.
The recommendations also highlighted the inclusion of CCS under the clean development mechanism by December 2008 as an important priority.
World Coal Institute Chief Executive Milton Catelin said "these recommendations recognise the pivotal role of CCS in any effective climate change response".
The IEA has estimated that in addition to other mitigation actions, CCS must be installed on the equivalent of 630 coal fired power plants by 2030. With the widespread deployment of CCS, fossil fuels will become an important part of the solution rather than part of the problem
Australian Coal Association Executive Director, Ralph Hillman said: "Australian coal producers were leading the way on developing a portfolio of demonstration clean coal projects through the world's first industry levied $1bn COAL21 Fund."
The recommendations will go before the International Energy Agency (IEA) before they are presented to G8 Leaders in July 2008 in Japan.
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