CCUS governance, ownership and funding (ACCSESS)
As part of the larger ACCSESS project, sus.lab analyzed the key governance, ownership, and financial considerations for a transnational CCUS transport network. Sus.lab's contributions to ACCSESS included investigating the development of governance and ownership options for CO2 transport networks, and funding mechanisms for such a network at transnational, national and regional levels.
The resultant deliverable (attached below) examines ownership and governance models for transnational CO2 transport networks, explores existing and possible future funding sources for such infrastructure, and assesses investment needs for CO2 transport infrastructure at project, national and European levels - highlighting emerging trends concerning funding of projects with involvement of oil and gas (O&G) companies. Lastly, it dives into the current state of funding for carbon capture, utilization, and storage (CCUS) and highlights the gap between CCUS project ambitions and the current state of funding.
The four-year project ACCSESS, funded by the EU’s flagship research and innovation program Horizon, set out to demonstrate the technologies and produce tools and plans that would enable a widespread CCS deployment in Europe. ACCSESS unites researchers and stakeholders in the field of carbon capture and storage (CCS) from various European nations. This collaborative initiative aims to expedite the implementation of CCS technology by focusing on innovation in CO2 capture processes, their associated systems, and societal considerations. Additionally, ACCSESS will delve into achieving substantial reductions in CO2 emissions and their removal in four pivotal industries (pulp and paper, waste-to-energy, cement, and biorefineries). By doing so, ACCSESS will play a vital role in bolstering the drive towards widespread adoption of CCS technology in Europe and will furnish adaptable CCS strategies for realizing a climate-neutral Europe by 2050.
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