The Carbon Capture Coalition – the nonpartisan coalition building federal policy support for deployment of carbon capture, released its 2023 Federal Policy Blueprint – a roadmap of essential, common-sense policy, regulatory, and implementation-related recommendations for the 118th Congress and the administration to adopt as they scale the carbon management industry.
The US is one of the country leaders in establishing the most forward-looking policies for the deployment of carbon management technologies, accelerating the world’s efforts of realizing the net zero economy. According to the Carbon Capture Coalition, there is still a lot of work to be done to ensure the investments made in carbon management translate to widescale project deployment.
The blueprint aims to facilitate the worldwide development of carbon management technologies through key policy suggestions. It contains a comprehensive set of pragmatic recommendations like:
- Recently enacted supportive policy ecosystem for carbon management needs to be properly implemented at the federal level.
- Federal actions to implement policies and mechanisms to further ensure benefits from project development flow to affected communities and workers have to be coordinated.
- Demand-side policies have to be enacted to incentivize the commercial production of products and services sourced from the broad array of carbon management industries.
- Federal resources have to be provided for the development of less commercially mature and next-generation carbon management technologies.
- Complimentary Policies to existing laws and programs are needed to strengthen the available portfolio of federal policy support.
- The appropriate transport and storage of CO2 have to be enabled by swift and coordinated federal action.
The 118th Congress now has the opportunity to reinforce and grow the role of American leadership in the development of carbon management technologies through a number of targeted short-term actions.
Such actions, as explained in the blueprint, could be also providing resources for next generation technology deployment; ensuring investment certainty and business model flexibility by providing further small-scale adjustments to the 45Q tax credit; targeted agenda of coordinated policy and regulatory actions to ensure that CO2 transport and storage infrastructure can scale rapidly and responsibly.