Twenty-first International Conference on Environmental, Cultural, Economic & Social Sustainability

Abstract

The urgent need to combat climate change has moved the industrial Carbon Capture and Storage conversation into the spotlight. Carbon Capture and Storage (CCS) involves recovering carbon dioxide from fossil-fuel emissions produced by industrial facilities and power plants, then transporting it to locations where it can be stored to prevent its release into the atmosphere, thereby mitigating global warming (Baugh, 2024). This three-stage process—capture, transport, and storage—aims to reduce the amount of CO₂ released into Earth’s atmosphere. Achieving large-scale CCS deployment requires robust policymaking and effective collaboration between the private and public sectors (IEA, 2021; OECD, 2021). The possible benefits of such collaboration is assessed, to determine the potential of supportive legislation as well as other strategic mechanisms from the public sector for incentivizing private sector engagement in CCS initiatives. Some successful case studies are also provided to illustrate the impact of successful policies on fostering profitable partnerships. This paper therefore explores the critical role of robust policymaking and legislation in boosting private sector participation in CCS as a core contributor to a more sustainable future.