[CLICK HERE FOR REGISTRATION]
China SIF Week 2021 Side Events
Report Launch of Carbon Capture and Storage for Power and Steel
Time:Dec. 13th 2021 15:00 Beijing Time/HKT/SGT, 16:00 JST/KST, 18:00 AEDT
Format:Live streaming
Theme:Carbon Capture and Storage in the decisive decade for decarbonization – the case for AsiaHosts: AIGCC, SynTao Green Finance
Introduction
Carbon Capture and Storage in the decisive decade for decarbonization – the case for Asia
Carbon Capture and Storage (CCS) processes involve capturing carbon dioxide emissions from power generation or industrial production, transporting it and permanently storing it underground. In recent years, a growing number of governments and companies are putting significant stock in CCS to underpin their transition plans and bridge emissions gaps to reach net zero. To date, there have been a few challenges to the effectiveness of CCS despite the significant obstacles that CCS faces, including high operational costs, complex technical challenges, a myriad environmental risks and societal opposition.
In the decisive decade for decarbonization, the prospect of CCS deployment has become a discussion of critical importance. To validate whether such capacity projections for 2050 are plausible in the Asian context, AIGCC commissioned Wood Mackenzie to assess the drivers of CCS feasibility, consisting of cost competitiveness to alternatives, policy and regulatory support and storage availability, as well as to assess the competitiveness of CCS in the power generation and steel sectors of China, India, Japan and South Korea.
A detailed cost competitiveness analysis was conducted to compare traditional options with and without CCS retrofits, and to compare CCS options with competing technologies. The outcome identifies that large-scale CCS deployment varies across different sectors and will depend on the capacity required from fossil fuel energy, the competing role of renewable energy, coupled with strength of policy support and other technologies. The report explores this in detail.
Overall, the level of CCS deployment in decarbonization strategies raises some questions on the level of reliance to the technology and the potential risk in CCS implementation. However, with some sectors where other decarbonization technologies are unavailable, CCS could be a probable option until competing technologies take over.
The report also explores other environmental, technical, social and policy factors influencing the feasibility of large-scale implementation.
An expert panel of speakers are invited to contribute to the discussion with remarks following the report launch as detailed below. The report will be launched as a side event to China SIF Annual Conference 2021. The webinar will be conducted in English with simultaneous interpretation services for Mandarin speakers.
To learn more about the report, click the link to join us at the launch.
Report Launch Speakers
Valerie KWAN, Director, Engagements, AIGCC
Firdaus ANUAR, Project Manager, AIGCC
Joshua NGU, Vice President, Wood Mackenzie
Allen CHAN, Principal Consultant, Wood Mackenzie
Expert Panel Speakers
Eric NIETSCH, Head of ESG, Asia at Manulife Investment Management
Seiji KAWAZOE, Senior Stewardship Officer, Sumitomo Mitsui Trust Asset Management
Jacqueline TAO, Analyst, TransitionZero
Dan GARDINER, Climate Transition Specialist, IIGCC
CAO Yuan, Carbon Neutrality Specialist, SynTao Green Finance