Carbon Capture Coalition Releases 2023 Federal Policy Blueprint
April 24, 2023 | Blog
Today, the Carbon Capture Coalition released its 2023 Federal Policy Blueprint, a roadmap of essential, common-sense policy, regulatory, and implementation related recommendations for the 118th Congress and the administration to adopt as they support the responsible scale-up of the carbon management industry in the remainder of this decade.
Carbon capture, removal, transport, reuse, and storage technologies, commonly referred to as carbon management, are a portfolio of safe, effective, and increasingly cost-effective technologies to manage, abate, and remove CO2 and CO emissions from industrial facilities, power plants, and directly from the air. Captured CO2 or CO is then reused to make valuable products or transported to appropriate sites for secure geologic storage. Significant deployment of carbon management technologies by 2030 is vital so that projects and associated infrastructure can scale in timeframes consistent with meeting net-zero emissions targets and climate goals by midcentury.
A broad and growing group of bipartisan policymakers and a diverse set of stakeholders from industry, energy, and technology companies; energy and industrial labor unions; and conservation, environmental, and energy policy organizations support carbon management as an available and essential tool, among a growing set of solutions, to meet midcentury climate goals, strengthen and expand a high-wage jobs base, and support domestic manufacturing and energy production.
Thanks to robust and sustained bipartisan congressional support, the United States now provides the most forward-looking policies in the world for the deployment of carbon management technologies. However, there is still much work to be done to ensure the historic investments made in carbon management throughout the past several years translate to widescale project deployment.
The blueprint contains a comprehensive set of pragmatic recommendations needed to rapidly deploy these technologies, including:
- Ensuring that the recently enacted supportive policy ecosystem for carbon management is properly implemented at the federal level.
- Coordinated federal actions to implement policies and mechanisms to further ensure benefits from project development flow to affected communities and workers.
- Enacting demand-side policies to incentivize commercial production of products and services sourced from the broad array of carbon management industries.
- Providing federal resources for the development of less commercially mature and next generation carbon management technologies.
- Complimentary Policies to existing laws and programs to strengthen the available portfolio of federal policy support.
- Enabling the appropriate transport and storage of CO2 by swift and coordinated federal action.
Building upon the portfolio of supportive federal policies enacted over the course of the last few years, the 118th Congress now has the opportunity to reinforce and grow the role of American leadership in the development and deployment of these technologies throughout the remainder of this decade through a number of targeted near-term actions. These include providing resources for next generation technology deployment; ensuring investment certainty and business model flexibility by providing further small-scale adjustments to the 45Q tax credit; as well as a targeted agenda of coordinated policy and regulatory actions to ensure that CO2 transport and storage infrastructure can scale rapidly and responsibly to meet the anticipated demand.
To read the Carbon Capture Coalition’s 2023 Federal Policy Blueprint click here.
The Carbon Capture Coalition is a nonpartisan collaboration of more than 100 industry, labor, conservation, environmental policy, and nonprofit organizations. Members of the Coalition work together to advocate for the full portfolio of policies required to commercialize a domestic carbon management sector and inform policymakers as well as stakeholders on the essential role this suite of technologies must play in achieving these shared objectives.