A New Global Framework for Clean Energy Technology Deployment Under the Paris Agreement: The Role of Carbon Capture and Storage (Ccs) in a Future Global Carbon Market

Abstract

This paper examines the detailed provisions on clean energy technology deployment under the United Nations Framework Convention on Climate Change (UNFCCC), with a particular focus on the design of international cooperation under Article 6 of the 2015 Paris Agreement and on the critical role of carbon capture and storage technologies (CCS) in meeting the climate goals of the Agreement.

It is organized as follows:

A first introductory section sets the scene for the deployment of clean energy technologies under the Paris Agreement.

A second section examines the nature and dynamics of technological innovation and clean energy technology deployment, with an emphasis on multidimensional, context-sensitive characteristics, including drivers and inhibitors.

A third section considers the potential for Article 6 to be a game-changer for clean technology deployment that can connect low-carbon policies and mechanisms worldwide, under a common blueprint. It looks at lessons learnt from the Clean Development Mechanism (CDM) and at the challenges of designing rules under Article 6 that effectively incentivize clean technology deployment, from both a technical and institutional governance perspective.

A fourth and concluding section looks at perspectives for the effective deployment of CCS under Article 6 and at the role of supply side policies in mitigating GHG emissions worldwide in the context of current international cooperation challenges and dynamics and future G20 and UNFCCC events.

Keywords: Clean Technology Deployment, Carbon Capture and Storage, GHG Mitigation, Article 6, Paris Agreement, Clean Development Mechanism

JEL Classification: F42, F53, F64