Carbon Capture Coalition Submits Statement for House Energy & Commerce Subcommittee Hearing on US Emissions Reduction Strategies
November 29, 2023 | News
The Carbon Capture Coalition submitted a statement for the record today for the House Energy & Commerce Environment, Manufacturing, And Critical Materials Subcommittee Hearing: “America Leads The Way: Our History As The Global Leader At Reducing Emissions”.
The statement details both the environmental benefits of carbon management technologies as well as a slate of near-term federal policy opportunities for the committee to consider to catalyze the deployment of these technologies. These policy priorities address the current economic, financing and project permitting challenges carbon management projects face in today’s policy landscape. Specifically, this includes indexing the federal Section 45Q tax credit for inflation prior to the statutorily mandated date of 2027, passing the Carbon Capture and Utilization Parity Act, and important considerations for improvements and reforms to aspects of the permitting process to provide clear and transparent parameters for project developers to abide by as this sector scales in a safe, efficient and responsible manner. Enacting these recommendations would further enable these technologies to fulfill their emissions reduction potential, while strengthening American manufacturing and industrial production, and providing communities with tangible economic and health benefits.
Read the Coalition’s statement for the record, here.
Watch a recording of the hearing, here.
The Carbon Capture Coalition is a nonpartisan collaboration of more than 100 companies, unions, conservation and environmental policy organizations, building federal policy support to enable economywide, commercial scale deployment of carbon management technologies. This includes carbon capture, removal, transport, reuse, and storage from industrial facilities, power plants, and ambient air. 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.