China Climate Investments hosts CCUS Investment Forum in Beijing
20 March 2023
China Climate Investments hosted the CCUS Investment Forum in Beijing on 18 March at which more than 100 experts and academics from climate organizations convened to discuss CCUS investment, financing, and industrialization within China.
Song Lei, Chief Representative in China for OGCI Climate Investment, gave a keynote presentation noting that since CI’s establishment in 2017, it has completed the execution of more than 30 decarbonization start-ups, of which one-third are in its CCUS portfolio. By December 2021, CI’s portfolio companies had delivered in excess of 30+ million tons of carbon dioxide equivalent reduction. He also emphasized that CCUS investment needs to focus on three strategies: technological innovation and scale-up that can accelerate the reduction of carbon capture costs; utilization technology investments that can create additional markets for CO2 and enable carbon recycling; and project investments that can apply accumulated experience of executing CCS projects and integrating the global CCUS industry chain.
Zhou Aiguo, Chairman of the CCUS Investment Forum, Vice Chairman of the Science and Technology Association of CNPC, and the Head of the National CCUS Standardization Working Group, described the Forum as a cauldron of ideas. He assessed the CCUS commercialization path from the different perspectives of policy, technology, and market potential, providing the context for promoting investment in CCUS and supporting China’s decarbonization ambitions. Mr Zhou underlined that the success of CCUS requires the joint participation and joint efforts of government, enterprises, capital, and other key stakeholders.
CCUS is a key investment focus for Climate Investment, and its portfolio includes innovative technologies and business models to address CCUS holistically.