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Thesis (Master's)

University of Iceland > Þverfræðilegt nám > Umhverfis- og auðlindafræði >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/39877

  • The Nordic industrial CCS system as a large-scale superpower of negative emissions
  • Master's
  • Carbon removal (CR) by carbon capture and storage has neither seen a widespread or large-scale application despite its potential for negative emissions, where there is a knowledge gap on how these activities can become a profitable solution. This study provides a multidisciplinary view on the interconnected challenges and benefits of establishing a first-of-a-kind Nordic industrial CCS system, with particular focus on enabling CR by CCS through a tradable negative emissions credit, and by using Carbfix as a case study, show how using CO2 mineralization storage could be an important part of such a system. A systematic review of multidisciplinary literature was conducted, as well as semi-structured interviews with key roles in the industry. Policies for deploying CR by CCS are insufficient and there is a lack of financial incentive. This study suggests that a credible NEC that can be traded in a voluntary carbon market could provide financial incentive and boost deployment of CR by CCS. In fact, facilitating trading of such credits can enable a Nordic industrial CCS system to become widespread. Furthermore, enabling CR activities require having storage available where Carbfix can become a storage provider for captured negative emissions exclusively. The framework for CCS activities poses potential barriers for Carbfix in terms of storage complex characteristics and monitoring requirements since the CCS Directive assume conventional CCS. However, these issues can be overcome, and evidently Carbfix have found a solution considering their new plans of becoming a storage hub for Nordic countries. Nevertheless, the lack of technology openness in the policy and regulatory framework for CCS activities must be resolved, where it’s suggested that governing bodies should aim to set tough standards and goals but allow the industry to be innovative and decide the technology path to reach those goals. The large potential for climate change mitigation from CR by CCS in Nordic countries has not yet been appropriately addressed where the findings in this study can contribute to enabling the Nordic countries to become a large-scale superpower of negative emissions.

  • Sep 10, 2021
  • http://hdl.handle.net/1946/39877

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