The carbon capture and storage (CCS) method will cover activities that capture and store greenhouse gas emissions in secure geological formations. CCS was also identified as a priority technology in the Low Emissions Technology Statement as large-scale deployment of CCS will underpin new low emissions industries (including hydrogen) and provide a potential decarbonisation pathway for other industries.
The agency considered evidence of the scale of capital investment for CCS projects, other economic costs and benefits, and how CCS projects meet the ERF's requirements for additionality under the Offsets Integrity Standards.
The proposed method is currently out for public consultation.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.