Carbon management is emerging as an important component of regulatory strategies to progress towards a net-zero economy. Recent actions range from funding for the first direct air capture facilities to establishing an action committee to advance marine carbon dioxide (CO2) removal.
The deployment of carbon capture, utilization and storage (CCUS) technologies is expected to increase in the U.S., driven by federal and state initiatives to meet emissions reduction targets. Supportive policies, including $12 billion in funding from the…Read the full report …...
The deployment of carbon capture, utilization and storage (CCUS) technologies is expected to increase in the U.S., driven by federal and state initiatives to meet emissions reduction targets. Supportive policies, including $12 billion in funding from the Infrastructure Investment and Jobs Act (IIJA) of 2021 and enhanced tax credits under the Inflation Reduction Act (IRA) of 2022, are driving carbon capture projects across the U.S. Initiatives to expand carbon dioxide (CO2) pipelines to connect to sequestration sites have also gained momentum.
The U.S. Environmental Protection Agency (EPA) has proposed new limits on carbon dioxide emissions from coal- and gas-fired power plants, the latest in a string of actions to further the Biden administration’s ambitious climate agenda including proposals to strengthen vehicle emission standards and curb methane leaks from oil and gas wells.
The increasing focus on reducing carbon dioxide (CO2) and other greenhouse gas emissions to achieve climate goals has drawn renewed attention to the deployment of carbon capture, utilization, and storage (CCUS) technologies. Federal investments in carbon management through the 2021 Infrastructure Investment and Jobs Act (IIJA) have provided a near-term opportunity to scale commercial carbon capture projects.
Discussion around the social cost of greenhouse gases has drawn increased interest following the Biden administration’s renewed focus on establishing the climate metric for federal agencies to incorporate in their policy decisions.
Federal and state government agencies across the U.S. are advancing climate measures for effective implementation of emissions-reduction strategies to progress towards ambitious goals. Federal actions include an executive order directing the federal government to use its procurement power to achieve net-zero emissions, stronger auto fuel standards, and a methane reduction proposal. Recent state actions range from New York’s plan to implement its landmark climate law to Colorado’s oil and gas emission standards, and a cap-and-invest program in Oregon.
