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.
Method development plan
| Development stage | Status | Milestones for the 2021 calendar year |
|---|
| Planning and scoping | Complete | - Ministerial method priority announced quarter 4 2020.
- Initial method scoping and planning completed in quarter 4 2020.
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| Develop draft method | Complete | |
| Technical and expert consultation | In progress
| |
| ERAC consideration | Complete | - ERAC consideration scheduled quarter 2 2021.
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| Public consultation | In progress
| - Public consultation undertaken in late June and July 2021.
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| Refinement and draft finalisation | Pending | - Refinement and draft finalisation during quarter 3 2021.
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| ERAC approval | Pending | - ERAC review scheduled quarter 3 2021.
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| Minister approval | Pending | - Method finalised by quarter 3 2021.
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Issues Register
| Issue | Response |
|---|
Whether existing regulatory and approval regimes are sufficient to underpin CO2 storage.
| The Clean Energy Regulator (the agency) will undertake an assessment of Commonwealth, state and territory regulatory frameworks (including monitoring and reporting frameworks) to support carbon storage. |
| Determining the appropriate length of a crediting period for CCS projects. | 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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