Challenges to the Implementation of New Technologies: the Case of Carbon Capture and Storage(2)

Recommendations

1. Establish a well-designed regulatory framework. Site selection and management should be regulated with due regard to the nature and magnitude of the risks involved, ie, a riskmanagement approach that is in proportion to the management of similar risks in other settings. The use of market mechanisms to manage appropriate risks should be permitted.
2. Commission a number of large-scale demonstration plants in order to calibrate the technological and commercial risks, indicate cost reduction possibilities and develop regulations based on operational experience. Public sector participation or other forms of assistance will be required for these projects.