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Unlocking Economic Viability: Policies for Encouraging Carbon Capture, Utilization, and Storage

In: ENERGY TRANSITION AND CARBON NEUTRALITY IN ASEAN DEVELOPING CARBON CAPTURE, UTILIZATION AND STORAGE TECHNOLOGIES

Author

Listed:
  • Farhad Taghizadeh-Hesary
  • Han Phoumin
  • Lilu Vandercamme

Abstract

Carbon capture, utilization, and storage (CCUS) has the potential to play a crucial role in mitigating climate change by capturing CO2 emissions from industry and power generation, thereby fostering green development. Utilizing CCUS will impose higher costs on many industries, however, making the private sector less eager to invest in it. Following a review of the literature and policies that some businesses have implemented, this chapter provides practical recommendations for making CCUS economically feasible, including technological advancements, policy support, and market mechanisms.

Suggested Citation

  • Farhad Taghizadeh-Hesary & Han Phoumin & Lilu Vandercamme, 2024. "Unlocking Economic Viability: Policies for Encouraging Carbon Capture, Utilization, and Storage," World Scientific Book Chapters, in: Phoumin Han & Rabindra Nepal (ed.), ENERGY TRANSITION AND CARBON NEUTRALITY IN ASEAN DEVELOPING CARBON CAPTURE, UTILIZATION AND STORAGE TECHNOLOGIES, chapter 10, pages 253-270, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811288050_0010
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    More about this item

    Keywords

    Carbon Capture; Utilization and Storage; Decarbonization and Net-Zero; Energy Transition; Development and Deployment; Policy Barriers and Pathways; Political Economy;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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