Policy makers and thinkers of all varieties around the world these days are grappling with the design of smart, efficient policy; the challenge ahead of them is daunting. Energy demand is rising, especially in developing countries, while at the same time scientists tell us we must dramatically reduce greenhouse gas emissions or face catastrophic climate change events.

This urgency and tension is palpable -- at energy forums and events like Climate Week -- as we seek a new way ahead in international collaboration on energy policy.

The acceleration of carbon capture storage (CCS) technology deployment is a critical within this agenda. CCS is a critical component of any sustainable energy and greenhouse gas policy. It is not the only one – we need energy efficiency solutions, renewable energy options and more nuclear. But we also need CCS because of our continuing reliance on fossil fuels. 

If there is no CCS, we will be in very dire straits.  Because there are some very important economies for which we cannot expect a drop in the use of coal, for example the United States, China, Russia, South Africa. 

Fossil fuels are set to remain a dominant energy source in the future, especially in developing economies. In light of climate change predictions both producers and consumers of energy must move towards a more sustainable, lower carbon energy future. That is why CCS must be a key component of any greenhouse gas policy and it must be promoted as a tool in emissions reductions.

We now more than ever need enhanced international cooperation and dialogue that addresses energy security and energy poverty.

We have made progress through the establishment of a green fund through the Copenhagen Accord to support immediate action on climate change. But considering the predicated role that CCS will play in reducing CO2 emissions in a least cost scenario, governments must work to ensure that CCS projects are able to access funds under this scheme.

This is particularly critical for developing countries, which according to the IEA, will need to be home to more than half of the 100 CCS projects needed by 2020 in order to meet future deployment needs. To enable the transfer of technology and full scale deployment in developing economies, CCS needs to be included in any post-Kyoto agreement and associated financing mechanisms. 

Next Page: Keeping CCS on the radar.