london stock exchange group welcomes global ccs institute celebrating its 10th anniversary and the financing ccs conference
London Stock Exchange welcomes Global Carbon Capture and Storage Institute to mark their “Delivering Net-Zero: Financing CCS” conference, on the occasion of the Institute’s 10th Anniversary
Carbon Capture and Storage (CCS) is recognised as a vital solution for achieving Net Zero emissions as part of global efforts to mitigate climate change. The Global Carbon Capture and Storage Institute, which this year celebrates its 10th anniversary, will today host a conference in the City of London focused on the financial solutions needed to deliver CCS at scale. To mark the occasion, the Institute is opening the market at the London Stock Exchange.
The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of CCS, a vital technology that can significantly reduce emissions from energy-intensive industries and hard-to-abate sectors. This proven and versatile technology has an important role to play in supporting global efforts to reach the Paris Agreement climate targets.
With the market open ceremony, the Institute hopes to raise awareness among the broad financial community on the essential role of CCS. This climate mitigation technology will be key in supporting efforts to tackle climate change and deliver the transition to a net-zero economy. Following the market open, the Institute is hosting a conference gathering representatives of the financial sector to address how to mobilise finance for CCS deployment and channel investments to this important technology.
With the release of the Intergovernmental Panel on Climate Change special report on the impacts of global warming of 1.5 °C, the role of CCS has become ever more significant in climate and energy policy discussions. This IPCC landmark report showed that CCS will be needed if we are to reach net-zero emissions by 2050 and avoid the dangerous consequences of climate change.
Brad Page, CEO of the Global CCS Institute said: “The Institute is delighted to open the market at the London Stock Exchange. Today is particularly significant for the Institute as we are hosting a conference focused on financing CCS. The financial sector has a powerful role to play to accelerate CCS investment and deployment. We are now at a critical time, when we need to step up efforts and scale-up urgent climate action to deliver the transition to a net-zero world. CCS has a crucial role to play in supporting the global energy transition. There are currently 51 CCS large-scale facilities globally – 19 in operation, four under construction, and 28 in various stages of development with an estimated combined capture capacity of 96 million tonnes of CO2 per annum. Despite progress in CCS over the last years and promising projects in the pipeline, more large-scale commercial projects will be needed to reach global climate targets.”
More information about the Institute can be found on globalccsinstitute.com