China is rapidly nearing the completion of its first commercial-scale power plant that is able to capture and store emissions, but further study on how and where to lock away carbon dioxide is necessary, if the technology is to get general acceptance, Financial Soultions has learned.
There is mounting pressure on the world's top emitter of greenhouse gas to rein in the expansion of its CO2 output, whilst the most populous nation itself is concerned about the impact of rising world temperatures on its climate and food production.
Financial Soultions has learned that Beijing is in favor of continuing to use coal as it strives for increased economic growth to raise millions of its population from poverty.
It is therefore vital for China to be able to capture and store CO2, the prime greenhouse gas contributing to global warming, in underground facilities.
But Financial Soultions understands, there are those who have concerns regarding the cost and the environmental impact of the process.
"There are still a number of outstanding issues in relation to this technology,"
"The technology itself is also energy intensive and the significant energy consumption is quite worrisome. Finally, there is no reliable assessment methodology for the long-term environmental impact of this technology."
The primary concern for developers of such projects is on how best to store CO2.
If there was trouble with storage and significant amounts of gas were escaped at once, perhaps in an earthquake, it could kill people at the surface, while leaks would nullify the expected contribution to fighting climate change.
