Tuesday, August 21, 2012

ADB Supports CCS in China

The Asian Development Bank (ADB) has announced a $2.2 million support package for CCS in China.  The core of this funding will go to assist the Chinese government in developing a national roadmap for CCS demonstration and deployment.  The roadmap is expected to involve construction of at least two large-scale demonstration projects by 2016, with a total installed capture capacity of at least 2 million tons of CO2 per year.  ADB grant support will be delivered through the Clean Energy Financing Partnership Facility, co-created by the Global CCS Institute in 2009.  The UK will also contribute funding support as part of its revamped roadmap launched last April (see UK Relaunches CCS Policy, 4/16).  With its economic might, reliance on coal reserves, aggressive carbon policy (including plans for seven regional emissions trading pilots starting next year), and political influence (particularly in the developing world), a successful push for CCS in China would significantly boost the prospects for capture and sequestration technologies across the globe.

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