The government of India is developing a strategy to adopt carbon capture, utilization, and storage (CCUS) technology and launching an initiative to capture CO2 from major emission sources and fossil fuel-based power plants, aiming to help the country achieve its net-zero objectives.
By capturing and storing carbon, India hopes to significantly reduce its greenhouse gas emissions and contribute to global efforts to mitigate climate change.
This decision follows a 2022 report by the National Institution for Transforming India (NITI Aayog) that sparked conversations about CCUS technology.
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India, which currently depends on coal for more than 70% of its electricity generation, has acknowledged the significance of CCUS technology in lowering its carbon footprint. The country’s government is hopeful that this technology will help expand the country’s renewable energy capacity and assist in achieving the goal of becoming net-zero by 2070.
According to V. K. Saraswat, a member of the NITI Aayog, the government is currently developing a national mission for carbon capture utilization and storage that may offer incentives to encourage its widespread use.
He stated, “The government is proposing now that we should launch a CCUS mission in which different viability gap funding, carbon pricing mechanisms and taxing mechanisms, carbon trading, and also subsidies in terms of PLI (production-linked incentives) can be provided to reduce the carbon footprint.”
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The initiative will prioritize technology advancement and establishing pilot facilities, along with offering incentives to CO2 emitters. Saraswat mentioned that NITI Aayog, the office of the principal scientific adviser to the PMO, and the Ministry of Power are collaborating on developing the policy framework for the mission.
The NITI Aayog representative also highlighted that an important element of this strategy will be to promote the creation of pilot plants, emphasizing collaborations between businesses. The Indian government will provide financial support for this effort.
