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The IEA ’ s Net Zero by 2050 roadmap envisions a large role for carbon capture and storage ( CCS ) to provide a cost-effective pathway to address hard to abate emissions from existing assets . While government policies globally are becoming more favorable , and there has been a surge in CCS project announcements in the last year , several challenges continue to present serious headwinds for the rapid deployment of the technology at scale .
In some locations , large carbon emitters are unfamiliar with the technology and regulatory processes , meanwhile some financial institutions still do not consider CCS projects to be bankable leading to uncertainties around both pipeline and carbon storage investments . If combined with rising stakeholder opposition , often motivated by environmental and social concerns , these factors could also stymie progress . The industry must overcome these barriers and build greater trust among stakeholders if we are to achieve the ambitious global net zero targets .
The outlook in the US
While trust defies a simple definition , it is critically important to all aspects of life from individual wellbeing and interpersonal relationships to the effectiveness of teams and businesses . Yet new research from Princeton University and Worley points to a lack of understanding in CCS and evidence of mistrust between stakeholders involved in its delivery .
Princeton ’ s pulse survey of 4,200 people in the US – made up of the general public , people living near a CCS project , and CCS professionals – found that public awareness of CCS was low . Only 28 percent of respondents across each public sample had heard of the technology and only 17 percent knew of a specific CCS project .
There were also key differences in how stakeholder types perceive CCS risks and benefits , with professionals exhibiting a more positive view of the risks than the public .
Risk becomes more acute when considering proximity ; those living locally to a proposed CCS project perceived a higher level of risk than both the CCS professionals and the wider public .
When asked whether the public distrusts CCS , professionals perceive public trust to be higher than is reported by the public itself . This difference in perception could lead to misalignment between projects and stakeholders , potentially impacting approvals . Poor communication may even be catalyzing the public to oppose projects . All survey respondents pointed to government regulations and corporate leadership as key sources of distrust .
Building a framework for durable trust
If the industry is to accelerate the deployment of CCS , it will need to proceed with a higher degree of sensitivity to the concerns and communications needs of project stakeholders . The public ’ s lack of understanding , skepticism about , and perception of risks associated with CCS highlighted in the pulse survey , call for increased emphasis on providing clear , consistent and reliable information , along with much greater levels of transparency .
To develop a deeper understanding of how to achieve durable trust , Worley is supporting a new research program at Princeton titled ‘ Net Zero Infrastructure at the Speed of Trust ’ that will explore trust-based delivery frameworks for enabling net zero infrastructure development in ways that engage public leadership , private enterprise , communities , and special interest groups . Initial work suggests that these frameworks should be based on four proposed pillars of trust : engagement , alignment , adaptability , and transparency , which could build durable trust , help overcome reticence and drive action while safeguarding participants ’
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