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Carbon Credit

Carbon capture and storage (CCS) is one of the promising means to reduce CO2 emissions. The approach is to isolate CO2 from a gas stream and prevent it from emitting into the environment by storing it into a suitable geological reservoir. Main sources of CO2 will be fossil fuel power plants and large scale process industry.

Today, there are a number of ongoing CCS-related projects worldwide, but a full-scale end-to-end CCS chain does not yet exist. Hence, there is a obligation to fill knowledge gaps and examine concerning issues when developing a fully integrated CCS system. There are several key challenges which need to be solved in this development:

• Technical uncertainties
• Economical feasibility
• Legislation
• Environmental impact.

MSP can thus support both authorities in establishing frame conditions and industry in implementing this important technology:

• Carbon capture
• CO2 transport by pipelines or ships
• Geological CO2 storage and post-closure.

Further, enhanced oil recovery (EOR) is seen as a potentially profitable part of the CCS value chain in future applications.

A blockade to effective large-scale deployment of CCS is the current lack of recognized standards and guidelines that can support the implementation of CCS in compliance with emerging regulatory frameworks. MSP has therefore taken a commitment to address this gap and contribute to develop adequate guidelines for critical parts of the CCS value chain in order to contribute to transparent, consistent and cost-effective deployment of CCS.

Customers, particularly in developed countries, are starting to demand that retailers and manufacturers provide information so that they can make well-versed buying decisions. The customer pressure is felt most acutely at the retailer level, who in turn demands CO2 information and fulfillment from their suppliers. Both the consumer and the authorities demand that the CO2 is measured and reported according to certain standards and that this information is verified.

There are many different mechanisms that can result in reduction of GHG levels. Best results in decrease can occur through the introduction of governance schemes which support supply chain strategies while meeting customer needs for products and credible information about what they are buying. Such governance schemes can either come from regulatory bodies or through executive governance from the key players in the supply chain system.