WCI Letter in The Economist - The Benefits of CCS

WCI Letter in The Economist - The Benefits of CCS

3 April 2009

SIR – Your leader on carbon capture and storage (CCS) claimed that “the world is investing too much cash and hope” in the technology in the expectation of delivery from global warming (“The illusion of clean coal”, March 7th). Science informs us that climate change is a serious issue and requires serious funding in all low-carbon technologies: renewables, energy efficiency, nuclear and CCS. The United Nations Intergovernmental Panel on Climate Change maintains that CCS could contribute 55% of all emission reductions by 2100 and reduce the cost of stabilising carbon dioxide by more than 30%. The International Energy Agency says that stabilising emissions without CCS is not only impossible but raises costs by over 70%, an additional annual cost of $1.28 trillion by 2050.

The technology is ready and public investments in CCS represent excellent value for money. Europe will need to spend €13 billion-18 billion ($17 billion-24 billion) a year to meet its renewables targets. The lifetime costs of the European Union’s CCS demonstration plants are €5 billion-13 billion. Yet one large-scale CCS power plant can supply the equivalent low-carbon electricity of 1,400 wind turbines.

The truth is the world is investing far too little in CCS and other low-carbon technologies. Investments in these areas are not an act of faith, but an environmental imperative.

Milton Catelin
Chief Executive
World Coal Institute
London