Long-term viability of carbon capture and storage in a European context
There is much discussion concerning the question whether Carbon Capture and Storage (CCS) is a sustainable climate change mitigation option. An even more debated topic is currently whether it is affordable and economically viable on the long term. Different legal frameworks at different levels around the globe seek to provide incentives for CCS technology. This article focuses on two core aspects of economic viability, more specifically financial incentives and transparent handling of liability, and how they are dealt with at the European Union level in the CCS proposal. This approach is compared with the approaches chosen in Australia and the USA. It seems that, at all levels, more efforts are needed to make CCS viable on the long-term. Core elements to succeed are transparency and pragmatism.