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Putting CO2 to Use: Creating Value from Emissions Technical analysis USD 20 million global competition funded by NRG and Canada’s Oil Sands Innovation Alliance. Ten finalists from the UnitedStates, Canada, UnitedKingdom, China and India will be demonstrating their technologies at either the Wyoming Integrated Test Center under the competition’s coal track or the Alberta Carbon Conversion Technology Centre under the competition’s natural gas track – with one winner per track to be announced in 2020 (XPRIZE, 2019). Governments can also play a facilitative role by convening stakeholders, particularly industry and academia, and encouraging collaboration through international RD&D programmes. An example is Mission Innovation, which is a coalition of more than 20 countries that pledged to double RD&D funding on clean energy. In 2016, the Mission Innovation countries committed to seven Grand Challenges, including one for CCUS. The programme involves collaboration among experts from many countries in determining RD&D needs (US DOE, 2019). Table 9. Policy instruments for the creation of a market for CO2-derived products and services. Policy instrument Examples of existing policies / support Public procurement Public procurement rules in Canada and the Netherlands that favour material inputs with low-carbon footprints for construction projects Mandates Product labelling RD&D support Renewable Energy Directive (RED II) (EU) and Low Carbon Fuel Standard in California, both favouring low-carbon transport fuels, including CO2-derived fuels Environmental labelling of numerous products, including household appliances and packaging materials International level: Mission Innovation – coalition of countries that pledged to double R&D budgets on clean energy, which offers an opportunity to expand R&D on CO2 use as well. National level: EU’s Horizon 2020 programme, US DOE’s Carbon Use and Reuse R&D portfolio, National Key R&D programmes on CO2 use in the Chinese 13th Five-Year Plan Economic incentive US 45Q tax credit that encourages the capture and conversion of CO2 into useable products Certification and testing Certification and testing of wide range of product markets, including electronics and food. PAGE | 72 IEA. All rights reserved.PDF Image | Putting CO2 to Use Creating value from emissions
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