Economic Potential of DACCS and Global CCS Progress
4.2 REGIONAL OVERVIEW:
ASIA-PACIFIC
250
CCS in the Asia-Pacific region, as part of broader climate
mitigation, remains a continuing contrast between
significant development and lagging deployment.
While the public and private sectors across the region
continue to release climate mitigation plans and ramp up
decarbonisation efforts, much more is required and soon
(1). Part of the complexity of regional climate ambition
is that many Asian economies, particularly those in
Southeast Asia, are reliant on fossil fuels to drive their
growth. Many also remain home to a substantial portion
of the world's emissions-intense industries, highlighting
the necessity of CCS in managing the dual challenge of
growth and decarbonisation.
Some notable progress has been made over the past
12 months. Several new projects have been announced,
including the first commercial project in Thailand, and
institutional momentum is clear as CCS regulations and
policy mechanisms have begun to emerge at national
and sub-national levels. Collaboration continues to
accelerate, with MOUS proliferating across both the
private and public sectors. However, three broad barriers
to CCS remain across the region to varying extents
geological storage resource data, legal and regulatory
frameworks, and incentivising policy.
MtCO2
200
150
100
50
[19]
2030
FUEL TRANSFORMATION
INDUSTRY
POWER
2040
2050
FIGURE 11: CCUS DEPLOYMENT IN SOUTHEAST ASIA IN THE SUSTAINABLE DEVELOPMENT SCENARIO (SOURCE: INTERNATIONAL ENERGY AGENCY 2021)
* Values shown are from the IEA Sustainable Development Scenario, corresponding CCUS deployment levels are generally higher in the IEA Net-Zero 2050 roadmap
GLOBAL CCS
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