Unlocking Sustainable Futures through Enhanced Public-private Collaboration in Industrial Carbon Capture and Storage

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.

Presenters

Ikechukwu Nwabufo
MBA, Lebow College of Business, Drexel University, Pennsylvania, United States

Suresh Chandran

Details

Presentation Type

Paper Presentation in a Themed Session

Theme

2025 Special Focus—Sustainable Development for a Dynamic Planet: Lessons, Priorities, and Solutions

KEYWORDS

Industrial Carbon Capture and Storage, Public-Private Collaboration, Policymaking, Sustainable Futures