{"id":2732,"date":"2023-05-03T10:37:33","date_gmt":"2023-05-03T08:37:33","guid":{"rendered":"https:\/\/www.co2news.sk\/?p=2732"},"modified":"2023-05-03T10:37:33","modified_gmt":"2023-05-03T08:37:33","slug":"carbon-capture-is-starting-to-take-off","status":"publish","type":"post","link":"https:\/\/www.co2news.sk\/en\/2023\/05\/03\/carbon-capture-is-starting-to-take-off\/","title":{"rendered":"Carbon capture is starting to take off"},"content":{"rendered":"<p><strong>&#8211;<\/strong> As governments move to support carbon capture projects and corporations seek to reduce their carbon footprint <strong>&#8211;<\/strong> In the UK, the spring budget in March allocated up to $25 billion for carbon capture, utilisation and storage <strong>&#8211;<\/strong> Companies are signing long-term carbon credit agreements with developers of carbon capture technologies, which supports the investment case for CCS projects.<\/p>\n<p>Carbon capture projects and carbon credits have received a new boost over the past year, with strong government support, as part of the solution to reduce greenhouse gas emissions and put the world on track to meet the Paris Agreement goals. In the UK, the Spring Budget in March made up to $25 billion (\u00a320 billion) available for carbon capture, utilisation and storage (CCUS), while the US Inflation Reduction Act significantly increased incentives for carbon capture projects, including direct air (DAC). As governments move to support carbon capture projects and corporations seek to reduce their carbon footprint, the market for carbon capture projects and carbon credits is expected to thrive in the coming years. The schemes have faced criticism from environmental advocates who argue that carbon credits do not address the issue of reducing emissions and could lead to more greenwashing by big polluters.\u00a0<strong><em>Government support is accelerating carbon capture projects.\u00a0<\/em><\/strong><span>The UK government has pledged up to \u00a320 billion<\/span><span>\u00a0to finance the early deployment of a carbon capture, utilisation and storage (CCUS) system to help meet the government&#039;s climate commitments.\u00a0<\/span><span>The government has recognized the Viking CCS project as one of two leading bidders for the next phase of the project, prompting parent company BP to enter into a deal<\/span><span>\u00a0with Harbour Energy, the largest oil producer in the UK&#039;s North Sea, on the development of the Viking CCS project.\u00a0<\/span><span>In the United States, the IRA<\/span><span> increased the value of the credits overall, with the tax credit for carbon storage from carbon capture at industrial and power generation facilities increasing from $50 to $85 per ton, and the tax incentive for storage from DAC jumping from $50 to $180 per ton. The provisions also extend the construction period by seven years to January 1, 2033. This means that projects must begin physical work by then to qualify for the credit.\u00a0<\/span><em>(Cvetana Para\u0161kov\u00e1, OilPrice.com)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>&#8211; Ke\u010f\u017ee vl\u00e1dy prech\u00e1dzaj\u00fa na podporu projektov zachyt\u00e1vania uhl\u00edka a korpor\u00e1cie sa sna\u017eia zn\u00ed\u017ei\u0165 svoju uhl\u00edkov\u00fa stopu &#8211; V Spojenom kr\u00e1\u013eovstve jarn\u00fd rozpo\u010det v marci vy\u010dlenil a\u017e 25 mili\u00e1rd USD na zachyt\u00e1vanie, vyu\u017eitie a skladovanie uhl\u00edka &#8211; Spolo\u010dnosti podpisuj\u00fa dlhodob\u00e9 dohody o uhl\u00edkov\u00fdch kreditoch s v\u00fdvoj\u00e1rmi technol\u00f3gi\u00ed na zachyt\u00e1vanie uhl\u00edka, \u010do podporuje investi\u010dn\u00fd pr\u00edpad projektov [&hellip;]<\/p>","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,1],"tags":[],"class_list":["post-2732","post","type-post","status-publish","format-standard","hentry","category-uhlikova-stopa","category-znizovanie_co2_cdr_ccs_ccu_dac"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/2732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/comments?post=2732"}],"version-history":[{"count":0,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/2732\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/media?parent=2732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/categories?post=2732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/tags?post=2732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}