Carbon Capture and Storage (CCS) technology provides an opportunity to substantially reduce the impact of greenhouse gas emissions during the transition to a low-carbon economy. Yet policymakers, legislators and project proponents face unique challenges when promoting carbon capture, transport, storage and long-term management, including:
- Making CCS cost-effective
- Providing incentives for the development of CCS technologies
- Regulating cross-border aspects of carbon dioxide transport and storage
- Establishing property rights in both underground storage formations and stored carbon dioxide
- Managing, monitoring and verification, as well as the potential environmental and financial liabilities, of long-term carbon dioxide storage
Baker & McKenzie can help clients navigate these challenges. Our world-leading Climate Change Practice has a long history of advising clients on CCS legislative and policy development, as well as a wide variety of CCS technologies and projects. In recent years, our global CCS team has counseled national and state governments such as Australia, New Zealand, Norway and Illinois.
Through our work on carbon projects, we have developed key relationships with funders such as the Asian Development Bank, the Asia-Pacific Partnership on Clean Development and Climate, the British Foreign and Commonwealth Office, Danida, the United Nations Environment Program, the Global CCS Institute, the EU and the World Bank. As a result, Baker & McKenzie has built an unrivalled reputation for providing legal services in this niche market.
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