November 30, 2018
On November 28 (Wed.), 2018, Mr. Akimasa Ishikawa, Parliamentary Vice-Minister of Economy, Trade and Industry, attended a Global Summit on Carbon Capture, Utilization and Storage (CCUS) co-organized by the International Energy Agency (IEA) and the government of the United Kingdom in Edinburgh, the U.K. At the summit, he explained Japan’s efforts for accelerated deployment of CCUS technologies and stressed the importance of technological innovations and public-private collaboration. Taking this opportunity, he held bilateral meetings with ministers and officials of participating countries and exchanged views on future approaches to energy cooperation with each of these countries.
1. Attending the IEA CCUS Summit
On November 28 (Wed.), 2018, Parliamentary Vice-Minister Ishikawa attended an IEA CCUS Summit held in Edinburgh, the U.K. CCUS is one of the technologies which play a key role in balancing global warming measures and economic growth. Under the co-chairmanship of the U.K. and IEA, this summit brought together CEO-level representatives of 39 global companies, NGOs and financial institutes, including ministers and officials from 9 countries, and participants held discussions on action policies for accelerated deployment of CCUS technologies, ideal approaches to public-private collaboration and other issues.
Photo session at the opening ceremony of the summit
Parliamentary Vice-Minister Ishikawa delivering a speech
Key points of the outcome document (Chairs’ Summary) of the summit are as follows.
- Participants agreed that CCUS technologies are critically-important technologies not only for addressing climate-change issues but also for energy diversity and development of industrial sectors, such as steel making and chemicals. They also confirmed the importance of developing a framework to facilitate deployment of CCUS technologies from the viewpoint that such technologies will contribute to early dissemination of low-carbon technologies for hydrogen production and other efforts.
- As efforts for accelerated deployment of CCUS technologies, participants agreed on the importance of [i] identification of projects with high priority, [ii] introduction of appropriate business models, [iii] introduction of policy frameworks for stimulating investments, [iv] long-term policy goals, including those for CCUS technologies, [v] identification of CO2 storage infrastructures that are bearable to investments, and [vi] utilization of technologies that make use of CO2 effective.
- As further efforts for accelerated deployment of CCUS technologies, participants confirmed that they should enhance partnerships with governments, industrial players, financial institutes and other important stakeholders and should advance risk and cost allocation of projects, sharing of best practices, transition of CCUS technologies and other important efforts.
In particular, key points of Japan’s statement at the summit are as follows.
- Importance of ensuring economic efficiency taking advantage of technological innovations
Japan explained the importance of sufficient cost reduction to ensure economic efficiency in CCUS projects and stated the importance of technological innovations involving CCUS, and provided an example where demonstration tests in Japan for development of new carbon capture technologies that are expected to contribute to such significant cost reduction.
- Necessity of developing a system that attracts investments
Japan stressed the importance of developing a system in which CCUS projects work as a means for attracting investments in CCUS technologies, and explained, as an effort to this end, case examples of bilateral cooperation in development of such a system for operating CCUS projects as businesses, for example those that Japan and Saudi Arabia or Indonesia have been jointly advancing.
- Importance of more vital international discussions on CCUS technologies
Japan expressed the importance of more international discussion on CCUS technologies so as to encourage countries to consider CCUS issues in their agendas and explained its efforts for vitalizing such discussions, such as the Hydrogen Energy Ministerial Meeting in October 2018, the world’s first ministerial meeting in the field of hydrogen, and the International Roundtable on Strengthening Collaboration on CCUS, to be jointly held by Japan and the United States in February 2019. Moreover, Japan expressed its intention to emphasize the importance of CCUS technologies and other technological innovations in the G20 in 2019 that will be chaired by Japan, in order to contribute to global energy transitions toward a low-carbon society.
- Necessity of enhanced public-private collaboration
As efforts for accelerated deployment of CCUS technologies, Japan stated the importance of enhanced public-private collaboration, including financial institutes, and presented its expectations for improving economic efficiency in CCUS projects taking advantage of the Joint Crediting Mechanism (JCM), a program that Japan has been advancing.
2. Meetings with ministers and officials of participating countries
- Meeting with H.E. Ms. Claire Perry, Minister of State for Clean Energy and Growth, the U.K.
Parliamentary Vice-minister Ishikawa expressed his congratulations for convening the summit, and following this, both sides confirmed that Japan and the U.K. will continue to advance Japan-UK energy cooperation in CCUS, hydrogen and other fields.
Meeting with Minister Perry, the U.K.
- Meeting with H.E. Mr. Kjell-Borge Freiberg, Minister of Petroleum and Energy, Norway
Both sides exchanged views on future directions of Japan-Norway cooperation in the field of low-carbon technologies, for e.g., CCUS and hydrogen.
Meeting with Minister Freiberg, Norway
- Meeting with H.E. Dr. Fatih Birol, Executive Director, IEA
Parliamentary Vice-minister Ishikawa expressed his congratulations for convening the summit. Following this, both sides discussed ideal approaches to international partnerships in the field of CCUS, and exchanged views toward further enrichment of Japan-IEA collaboration toward the G20 meetings in 2019 that will be chaired by Japan.
Meeting with Executive Director Birol, IEA
Division in Charge
Global Environment Partnership Office, Industrial Science and Technology Policy and Environment Bureau