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Seneca ESG
- June 27, 2023
The Japanese government plans to propose the establishment of common rules for carbon capture and storage (CCS) in collaboration with the Association of Southeast Asian Nations (ASEAN) and Australia, with the aim of leading the deployment of CCS technology in the region, as reported by Nikkei Asia on June 22. Currently, there are no clear standards regarding the amount of carbon dioxide (CO2) that needs to be captured and stored to achieve a 1-ton reduction in CO2 emissions. Furthermore, CCS facilities themselves emit carbon and pose the risk of stored carbon leaking out. The proposed common rules aim to address these gap and will set safety criteria for storage facility locations, methods for measuring stored carbon volume, and a monitoring process for potential leaks. Japan’s Ministry of Economy, Trade, and Industry (METI) has submitted draft rules on June 24 at the Asia Zero Emission Community (AZEC) meeting in Indonesia.
The concept of the Asia Zero Emission Community (AZEC) was proposed by Japanese Prime Minister Fumio Kishida in January 2023, with the goal of promoting decarbonization in Asian nations and fostering cooperation to facilitate the energy transition. The group aims to develop emission-reduction strategies tailored to the specific characteristics of Asian countries. Given that Southeast Asian nations rely heavily on coal and may have limited solar and wind resources, CCS is seen as a viable option for decarbonization while meeting the region’s growing energy demand. The adoption of shared rules could reduce operating costs of CCS facilities and shorten construction times. In addition, Japan has committed to providing technological and financial support to help ASEAN members decarbonize.
Sour****ces:
https://www.energymonitor.ai/tech/carbon-removal/why-japan-is-pushing-ccs-in-southeast-asia/
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