Economic Potential of DACCS and Global CCS Progress
POLICY AND REGULATORY DEVELOPMENTS
In 2020, China announced its 30/60 climate policy
framework, outlining a goal of achieving carbon peaking
by 2030 and climate neutrality before 2060. The 1+N
framework lays some of the groundwork for CCUS policy
directions. The People's Bank of China launched a carbon
emissions reduction facility, a structural monetary policy
instrument providing financial institutions with low-cost
loans to support decarbonisation projects, in which CCUS
was included (25). Despite progress and some policy
documents outlining a role for CCUS, lack of a policy-
based, sustainable business model for CCUS remains a
deployment hurdle.
TOTAL
2000
1500
1000
[23]
500
2030
2035
2040
2050
2060
YEAR
MIN
MAX
FIGURE 12: POTENTIAL CCUS DEPLOYMENT CHINA (24)
GLOBAL CCS
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