Key Collaboration to Advance CCS Opportunities in Canada
Regina, SK, Oct. 28, 2021 (GLOBE NEWSWIRE) — With a shared vision to see Canadian industry well supported in advancing their goals to significantly reduce industrial emissions through the application of large-scale carbon capture and storage (CCS/CCUS), MLT Aikins LLP and the International CCS Knowledge Centre (Knowledge Centre) have signed a collaboration agreement. Through this relationship, MLT Aikins and the Knowledge Centre will identify and pursue joint opportunities to assist industry leaders in advancing their understanding of CCS projects, both from a technical and legal/regulatory perspective.
CCS is globally recognized as an important tool to meaningfully reduce carbon dioxide (CO2) emissions in high-emitting sectors. With Canada in the lead for the early development of full-chain CCS and active commercial-scale CCS facilities, Canadian industry and government are well positioned to leverage existing experience and be at the forefront of emerging innovations in CCS technology.
With extensive experience advising clients on energy, industrial and infrastructure projects, MLT Aikins provides guidance on addressing the legal and regulatory challenges that CCS projects face. The Knowledge Centre offers guidance on project readiness and business case considerations, as well as insights gained from the technical application of CCS. The collaboration agreement between the two organizations will explore opportunities to support large-scale CCS, including CCS hubs that use CO2 storage sinks to maximize shared infrastructure.
CCS has been identified as a critical part of Canada’s plans to meet net-zero emission targets. The collaboration between MLT Aikins and the Knowledge Centre will pool both organizations’ knowledge and resources to boost industry awareness of CCS.
“A formidable, collaborative approach is needed to reach our collective commitment in the Paris Agreement, and the International CCS Knowledge Centre is proud to be in collaboration with MLT Aikins. We are excited about this partnership, as it aims to advance collective action through global measures.” - Beth (Hardy) Valiaho, VP Strategy & Stakeholder Relations, International CCS Knowledge Centre
“We are pleased to partner with the International CCS Knowledge Centre on this important initiative to reduce industrial greenhouse gas emissions. CCS projects will be key to achieving net zero, but they come with a number of technical and regulatory challenges. Our goal is to help industry move forward with confidence when implementing CCS solutions.” - Randy Brunet, Partner, MLT Aikins LLP
CCS & Climate Action
Climate Action & Incentivizing CCUS/CCS in Canada
- For Canada to reach its net zero targets, 7.2 million megatonnes (Mt) of CO2 would need to be captured and permanently stored by the year 2030 with an acceleration to 127 Mt by 2040 and then 309 Mt by 2050. (Navius Research)
- In Canada’s spring 2021 budget and industry consultation process, the federal government proposed an investment tax credit (ITC) for capital invested in CCUS to support technological advancement, lower costs and make sure Canada stays ahead of the curve in the global market for CCUS.
Legal Frameworks and CCS
- The legal and regulatory framework for operating CCS has been recognized as a challenge globally. There is a need for professional guidance and regulatory context in addressing issues related to CCS.
International CCS Knowledge Centre
Head of Communications & Media Relations
T: +1-306-565-5956 / M: +1-306-520-3710
Content Marketing Specialist
About the International CCS Knowledge Centre (Knowledge Centre): with a mandate to advance the global understanding and deployment of large-scale CCS to reduce global GHG emissions, the Knowledge Centre provides the know-how to implement large-scale CCS projects as well as CCS optimization through the base learnings from both the fully-integrated Boundary Dam 3 CCS Facility and the comprehensive second-generation CCS study, known as the Shand CCS Feasibility Study. Operating since 2016 under the direction of an independent board, the Knowledge Centre was established by BHP and SaskPower. For more info: https://ccsknowledge.com/
About MLT Aikins LLP is a full-service law firm of more than 270 lawyers with extensive experience in environmental law. The firm has provided environmental impact assessment, liability, and due diligence advice on a number of mining, forestry, oil and gas, chemical and heavy industry projects, as well as advising light industrial and commercial facilities, and non-industrial undertakings. MLT Aikins has developed due diligence systems and policies (including environmental audit programs), provided ongoing advice on environmental regulatory requirements, and legal advice on environmental compliance and successor liability. For more info: https://www.mltaikins.com/