Insights > Analysis > ANALYSIS: London Protocol amendment ratification takes effect in Australia, allowing for transboundary CCS

ANALYSIS: London Protocol amendment ratification takes effect in Australia, allowing for transboundary CCS

Published 16:40 on November 7, 2024 / Last updated at 16:40 on November 7, 2024 / / Asia Pacific (Asia, Pacific), CO2 Management (CCUS, Engineered Removals), Insights (Analysis), Net Zero Transition (Industrial Decarbonisation, Transport & Heating Fuels), Voluntary (VCM Governance)

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Australia’s ratification of a key amendment to the London Protocol went into effect Thursday allowing the shipping transport of CO2 between nations, meaning its plans to become a regional hub for an emerging carbon capture and storage (CCS) industry is one step closer, but more is needed to provide the kind of policy certainty that secures investment and carbon markets are seen unlikely to play a material role in financially de-risking projects.
Australia’s ratification of a key amendment to the London Protocol went into effect Thursday allowing the shipping transport of CO2 between nations, meaning its plans to become a regional hub for an emerging carbon capture and storage (CCS) industry is one step closer, but more is needed to provide the kind of policy certainty that secures investment and carbon markets are seen unlikely to play a material role in financially de-risking projects.


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