The Energy Transition: Carbon Capture Utilization & Storage
2022 has brought much attention to Carbon Capture Utilization and Storage (“CCUS”), and is said to be a critical piece to the future of energy rich States and Provinces. The Canadian federal government released its plans for emissions reduction over the next 8 years to reach 2030 targets. This plan places a large focus on CCUS initiatives including a new investment tax credit for capital invested in CCUS projects.
On 31 March 2022, the Alberta government released the results of its first round of full project proposals for developing and operating carbon sequestrations hubs. The first round focused on the Industrial Heartland. While round two, which will accept proposals between 25 April and 01 May, 2022, is open to the rest of the province. For more details on the RFPP process and round one awards visit: https://www.alberta.ca/carbon-sequestration-tenure-management.aspx
In February 2022, the U.S. Administration announced several significant carbon capture announcements including availability of $96 million in federal funding for advanced carbon capture technologies.
Are you wondering where land and engagement fits into this CCUS puzzle? In working with clients in the energy transition space, three things are clear.
1. Doing things the way it’s always been done is no longer enough;
2. Inclusion of stakeholders and Indigenous communities are a social and government priority (and often a requirement); and
3. Education and information sharing around new energy and new technologies must be part of the land and engagement plan.
Reach out to BRITT’s leadership team to learn more at firstname.lastname@example.org.