Carbon dioxide use and removal : Prospects and policies

Abstract

This report presents an overview of the current status of carbon capture, utilisation and storage (CCUS) and carbon dioxide removal (CDR), in terms of and main technologies, markets and policies, especially from the perspective of Finland. CDR refers to technologies and practices, which can remove carbon dioxide (CO2) from the atmosphere and store it in a manner intended to be permanent. CCUS refers to permanent storage of captured CO2 or to the utilisation of captured CO2 as a feedstock for different products which also form short- or long-term storage over their life cycle. The products can range from fuels (short lifetime) to performance polymers (long lifetime) and to mineral products (often permanent storage).

The market assessment included also quantitative and qualitative estimates for future development in size and growing CCUS and CDR solutions. Finland’s export potential in the technologies and products was also investigated. The policy environment of the technologies was assessed in terms of greenhouse gas accounting and reporting rules under the UNFCC and EU legal frameworks. Moreover, an international benchmarking of national policies was carried out to survey good practices in peer jurisdictions. Taking note of the assessed main technology options, the policy overview was used to identify policy development needs and to provide recommendations accordingly.