Shell welcomes CCS funding mandate
May 31, 2017
Shell Australia welcomes the Clean Energy Finance Corporation’s mandate to allow investment in carbon capture and storage opportunities.
Demand for energy will grow through this century and fossil fuel use will remain within global energy systems. Given this, Shell believes that CCS will play a critical role as the only proven technology that can stop significant quantities of carbon dioxide being emitted into the atmosphere in industrial economies.
While much can be done to reduce emissions, commercial deployment of CCS will be important as governments aim to meet emission reduction targets set out in the Paris Agreement.
The current financial costs of deploying CCS in the energy mix are substantial, which is why Shell believes the government should provide time-limited support for low CO2 technologies, such as CCS.
- quotes can be attributed to Zoe Yujnovich, Shell Australia Chairman