The Australian government picked six carbon capture, use and storage projects on Monday to receive a total of A$50 million ($39 million) in funds as it looks to accelerate development of the.. The development of scientific and engineering expertise and personnel in Australia to enable the deployment of advanced carbon capture and storage technologies, thereby contributing to the nation’s economic, environmental and social well-being.. Carbon capture and storage is an integrated technology able to achieve significant CO2 emission.
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Australia’s Carbon Sequestration Potential. Sequestration is a necessary part of any rapid, urgent decarbonisation, and the sequestration industry represents a huge opportunity for Australia if we get it right. The Intergovernmental Panel on Climate Change estimates that around 6 billion tonnes of CO2 would have to be removed per year by 2050.. “[Carbon capture and storage in Australia has] been around for about 20 years and it’s led to a huge delay in us doing anything serious about winding back fossil fuel emissions,” Mr Ogge says.
