WASHINGTON, D.C., May 22, 2024 – Consul Alarice Grant represented The Bahamas Consular Annex at the 2024 Americas Forum on Carbon Capture and Storage was held on May 13 2024, at the Ronald Reagan Building and International Trade Center, 1300 Pennsylvania Avenue NW, Washington, D.C.
The forum was an opportunity for policy leaders, NGOs, industry experts, academics, those in the financial sector and the general public to meet and discuss the state of carbon capture, utilization and storage (CCUS) technology in the Americas. The forum was organized by the Global CCS Institute, an international think tank whose mission is to accelerate the deployment of carbon capture and storage, a vital technology to tackle climate change and deliver climate neutrality.
Global CCS Institute CEO Jarad Daniels opened the forum with an overview of the global status on carbon capture and storage (CCS). He highlighted that the global CCS project pipeline has exhibited robust growth over the last several years with 564 facilities in the pipeline globally as of March 2024, and that this growth has been driven by strong policy, particularly in North America and Europe.
It was noted that CCS is identified as a critical component of the U.S. Environmental Protection Agency (EPA) final rules for carbon emissions reductions from fossil fuel power plants. Notably, the U.S. Department of Energy has record investment in CCS with $6 billion in awards to 33 decarbonization projects and Voluntary Carbon Dioxide Removal Purchasing Challenge.
There were five panel sessions on the following topics:
- The Climate and Community Benefits of CCS.
- Regulatory Updates on Carbon Capture and Storage,
- International Carbon Markets and Carbon Management.
- Carbon Capture and Storage Hubs.
- Perspectives on Financing Carbon Capture and Storage. Reference was made to the Paris Agreement, an international treaty on climate change, and nationally determined contributions (NDCs), which embody efforts by each country to reduce national emissions and adapt to the impact of climate change.
