Never before has the quest to balance the needs of people, the environment, and the economy been so important. While sustainability has. The Environmental and Economic Sustainability of Carbon. Capture and Storage. Paul E. Hardisty 1,2,*, Mayuran Sivapalan 3 and Peter. Available in the National Library of Australia collection. Author: Hardisty, Paul E; Format: Book; xxi, p.: ill. ; 25 cm.
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Case 1 is also economic under a wide range of e.hardisty future conditions, mostly driven by the GHG reductions achieved by this option compared to the reference sustaonability.
Proper sequestration site selection, design and monitoring can significantly reduce the risk of leakage and the severity of impact should leakage occur [ 17 ]. Increased funding for research and development of new breakthroughs in carbon capture technology could substantially improve the viability of CCS in the coming years. Quantifying Sustainability for ImprovedDecision Making. By capturing some of the CO 2 from the reservoir gas, the CO 2 level is reduced to 2.
Account Options Sign in. The basic technology is mature and robust.
Environmental and economic sustainability / Paul E. Hardisty | National Library of Australia
This is an important finding with respect to longer-term capital investment decisions. Offline Computer — Download Bookshelf software to your desktop so you can view your eBooks with or without Internet access. By definition, sustainability is concerned with the future, which is inherently uncertain.
Cite this Email this Ahd to favourites Print this page. These studies have considered the costs of action to reduce emissions, and the economic costs that would result if climate change is allowed to take its course unhindered. The valuation and estimation of external benefits and certain costs are subject to even larger sustaimability, especially over a year horizon.
The Economics of Climate Change Recently, there have been several attempts to quantify a global perspective on the economics of action and inaction on climate change. Specific assumptions used in the analysis are listed in Table 6. Further information on the Library’s opening hours is available at: In this case, the costs of implementation are simply too high to provide value for society—in fact, all CCS cases, retro-fit and greenfield, are pahl than a billion dollars worse, in present value terms, than business-as-usual under base case conditions.
Paul E Hardisty
Compression power of 40 MW is provided at the plant. You can view this on the NLA website. In this case the question becomes which of a wide variety of CCS options available provides the best long term environmental, social and financial outcome. Clearly, retrofitting a capture ready plant with CCS technology is more economic than on a carbon capture unready plant, no matter what year the retrofit is made. We have the technology now to significantly reduce emissions. Based on more than fifteen years of research and practice, Environmental and Economic Sustainability introduces the environmental and economic sustainability assessment EESAa new way to make decisions that meets the challenges of the 21st century.
Costs and benefits of acting to mitigate climate change. It demonstrates how to communicate with stakeholders in a transparent process which provides a robust view of how various options compare over a wide range of possible future conditions, using a language that everyone understands: Assumptions for key parameters.
If we must retrofit, retrofitting a capture ready plant is a significantly more economic proposition than retrofitting a carbon capture ignorant plant. From this perspective, sensitivity analysis is important because it allows the overall conclusions of the analysis to be tested across a wide range of parameter inputs.
CPD consists of any educational activity which helps to maintain and develop knowledge, problem-solving, and technical skills with the aim to provide better health care through higher standards.
CCS has been widely identified as a significant potential contributor to global strategies aimed at reducing emissions of GHG to the atmosphere.
The Environmental and Economic Sustainability of Carbon Capture and Storage
Note than in each sense, the first two cases to be deployed are Cases 8 and 1. Recent reviews have shown that the cost of CCS for CO 2 entrained in the raw reservoir gas is low compared to other applications.
All of these external costs would make CCS more costly from an overall environmental, ecojomic and economic perspective, over the long term. Already read this title? Table 7 shows the proportion of all conditions where a case is the most economic, or second most economic case, considering all possible combination of all values across their full range.
National Library of Australia. In these examples, the Environmental and Economic Sustainability Assessment EESA method is used, in which various options are considered by not only examining conventional financial costs of abatement, but also explicitly valuing the pal and social externalities affected by sustaiinability option [ 13 ].
Research and technical development has been underway in all of these areas for many years now, and a wide range of technically viable envirohmental workable solutions already exists in each of these sectors. Incorporating elements of life-cycle analysis, risk assessment, cost-benefit analysis, and comprehensive sensitivity analysis, EESA provides a fully quantitative, objective, and rational way to include all of the social, environmental, and economic issues relevant to a decision into one comprehensive analysis.
External Costs and Benefits This analysis, for a real facility, using technology available now, shows that under present policy positions, retrofitting existing coal-fired power stations is a not financially viable proposition for operators. The Economics of Climate Change: CO2 is removed from the gas stream and piped about km back to the field for injection through a dedicated well. Environmental and Ecological Risk Assessment. The student resources previously accessed via GarlandScience.
Carbon Price Trigger Points for CCS The analysis provides an indication of the threshold environmentxl price at which the decision to implement various carbon reduction measures would occur. In the context of current estimates of the social cost of carbon, CCS does not appear to be viable for managing emissions from facility liquefaction and compression.
As the social cost of carbon rises, CCS becomes an increasingly more economic proposition. Economid, it is clear, from a macro-economic perspective, that the world is far better off with concerted action to achieve deep cuts in GHG emissions than it would be otherwise.
Hence, widespread discussions are currently underway worldwide to put in place mechanisms which will effectively put a price on carbon emissions to the atmosphere.
Stationary fossil-fuel powered energy and large scale petroleum industry operations are two examples of industries which could benefit from CCS. Applications to Watershed Management.
Environmental and Economic Sustainability – CRC Press Book
My library Help Advanced Book Search. Details Collect From N Copy: Surplus power generation, exporting to grid, and. However, operators will have little incentive to deploy CCS unless the social value of carbon is wholly or partially reflected in a regulated price on carbon.