The CEM CCUS Initiative strengthens the framework for public-private collaboration on CCUS, while complementing the efforts and adding coordinated value beyond the activities of existing organizations and initiatives, such as the Carbon Sequestration Leadership Forum (CSLF), International Energy Agency (IEA), IEA Greenhouse Gas R&D Programme (IEAGHG), Mission Innovation (MI), and Global CCS Institute (GCCSI). A key advantage of the Clean Energy Ministerial process is its cross-cutting portfolio, which ensures that outcomes from the CCUS initiative will be placed firmly in the context of broader clean energy strategies.
The objective of this initiative is to accelerate CCUS as a viable CO2 mitigation option, facilitate diffusion of knowledge on technologies, regulations, and policies, and lead to strategic partnerships to accelerate both near and longer-term investment in CCUS. As an action-oriented platform, the Initiative does not perform analysis, but serves to bring government, industry and the financial and investment sectors together.
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CCUS has long been recognised as a critical technology to reduce CO2 emissions from fossil power generation and industrial processes, while ensuring energy security. Recent progress in project deployment has been encouraging, but the need to accelerate momentum in CCUS remains significant.
Increased collaboration, political leadership, and enhanced visibility are needed. There is also a need to catalyse public-private partnerships to drive CCUS investment. Important work on advancing CCUS is being undertaken through the CSLF, IEA, IEA GHG, MI, and GCCSI, but the CEM intends to provide additional value through additional ministerial-level focus and visibility, CEM experience on practical collaboration and implementation, and inclusion of CCUS in an integrated clean energy systems context.
The initiative uses CEM ministerial meetings, communication platforms, and other outreach tools to reach a wider audience, including ministers and high-level policymakers. The CEM’s experience with public-private partnership can also aid the initiative in actively engaging with a wide range of industry and to facilitate a regular dialogue with key energy ministers on CCUS progress and priorities. Another key opportunity is to leverage the convening power of CEM to engage multilateral development banks (MDBs), commercial banks and other financial leaders in CCUS efforts, seeking their commitment to include CCUS in their development strategies and investment programs.
1. Expand the spectrum of clean energy technologies under CEM to include CCUS. We use CEM ministerial meetings, communication platforms, partnerships with other Initiatives as well as other outreach tools to reach a wide audience, including ministers and high-level policymakers, engaged in advancing clean energy solutions. We provide expert assistance and the sharing of best practices to support in-country implementation.
2. Create a sustained platform for the private sector, governments, and the investment community to engage and accelerate CCUS deployment. We provide an action-oriented platform for government decision-makers, industry experts and both public and private financial-sector organisations, to engage in dialogue on key strategic aspects of carbon capture.
3. Facilitate identification of both near and longer-term investment opportunities. We actively engage with industry, the financial sector and other key stakeholders, to both discuss and identify promising investment opportunities, and to improve the business case for CCUS. We do this e.g. by active dialogue and focused meetings and events. We can also support assessments and case studies as relevant.
4. Disseminate emerging best practice in CCUS policy, regulatory frameworks and project development. We regularly share information among members on national and regional policy developments, and key learnings from government programmes and key projects. We share information internally among members, but also publicly via webinars, events and other relevant means.