Carbon Capture and Storage Fund
What is the fund?
The Carbon Capture and Storage Fund was established with Australia as a new single-partner trust fund under the Clean Energy Financing Partnership Facility in July 2009. It became multi-partner trust fund when United Kingdom joined in December 2012.
What are the priorities?
The fund aims to:
- accelerate the demonstration of carbon capture and storage (CCS) technologies;
- identify, lower and/or eliminate general and country-specific technical, regulatory, institutional, financial, economic, environmental, and/or social barriers to CCS technology demonstration; and
- identify, eliminate or mitigate real or perceived risks in CCS capture, transport or storage technology demonstration.
What kinds of activities are eligible for the fund?
To accelerate the physical deployment of carbon capture and storage demonstration projects, the fund supports:
- capacity development,
- geological investigations and environmental studies related to potential carbon dioxide storage sites; and,
- undertaking community awareness and support programs.
Who is eligible to receive the fund?
All ADB developing member countries are eligible to receive support from the fund. Initial priority will be given to the People’s Republic of China, India, Indonesia, and Viet Nam.
Who supports the fund?
Australia and the United Kingdom support the fund.