Zoom https://zoom.us/j/286293385 or by phone Dial 1-253-215-8782 and enter meeting ID: 286-293-385
Economy wide deployment of capture, transport, use, removal and geologic storage of carbon from industrial facilities, power plants and ambient air is essential to meeting mid century temperature targets, including the 2⁰ C climate goal agreed to in Paris and the more ambitious 1.5⁰ C goal. This is confirmed by modeling undertaken by both the International Energy Agency and the Intergovernmental Panel on Climate Change. Nevertheless, carbon capture remains the most neglected option in the climate solutions toolkit, even though IEA modeling of the 2⁰ C goal indicates that carbon capture must achieve nearly 15 percent of cumulative emissions reductions between now and mid century and 20 percent of total reductions annually by 2050. IPCC modeling of the 1.5⁰ C goal even more starkly illustrates the urgency of carbon capture deployment, with the need to capture and manage CO2 from stationary sources, bringing emissions down to levels near zero and then, ultimately, to go negative through atmospheric carbon removal by mid century.
This presentation will provide an overview of the climate necessity of carbon capture; the critical importance of capturing and managing carbon—both CO2 and carbon monoxide, a precursor of CO2—from key industrial processes that lack other mitigation options; nearly 50 years of successful large-scale commercial deployment in multiple industries; cost-effectiveness in the context of other necessary low and zero-carbon technologies; and scalability to deliver multi-billion ton annual reductions by mid century. The presentation will also describe federal efforts to build on the tremendous success of renewable energy incentives by providing a portfolio of incentives and other federal policies to support carbon capture, enhancing and expanding on the Section 45Q tax credit for geologic storage and beneficial use of captured carbon that was passed in 2018. The presentation will also feature initiatives at the state and regional level among state policymakers and industry, environmental NGOs, organized labor and others to align states and their planning and policy development to take advantage of the federal 45Q tax credit and accelerate commercial carbon capture deployment to achieve climate goals while supporting economic development and protecting and creating high-wage jobs.
This meeting will take place on Zoom: https://
March 24, 2020 at 6 p.m.