Source: Energy Resources Aotearoa
Energy Resources Aotearoa welcomes the release of the Ministry of Business, Innovation, and Employment consultation on a Carbon Capture Utilisation and Storage (CCUS) framework for New Zealand.
Energy Resources Aotearoa Chief Executive John Carnegie applauds the Government’s pragmatic approach to this technology.
“CCUS is a vital piece of the puzzle to meet our net-zero emissions goals for the gas sector and other applications. By capturing emissions before they are released into the atmosphere, CCUS provides a critical tool for limiting CO2 emissions.
It is encouraging to see the Government taking steps to remove red tape, giving investors confidence to get projects underway.”
CCUS projects capture emissions at source before being released into the atmosphere. The Intergovernmental Panel on Climate Change has said that the use of CCUS is “unavoidable” if countries want to meet their net emission reduction targets.
The International Energy Agency New Zealand 2023 Energy Policy Review highlighted the application of CCUS technologies to reduce emissions is in line with climate policies.
Mr Carnegie says New Zealand needs to catch up to the rest of the developed world on using CCUS to further decarbonise and provide end-consumers a greater choice of lower carbon fuels.
“New Zealand has been lagging in developing the necessary regulatory framework and this consultation provides the first step in securing a more sustainable transition to a low-carbon economy.”
About Energy Resources Aotearoa
Energy Resources Aotearoa is New Zealand’s peak energy industry body. We represent participants from right across the energy system, providing a strategic sector perspective on energy issues and their adjacent portfolios.
