In 2015, Peabody’s President and Chief Executive Officer Glenn Kellow chaired a National Coal Council report that called for enabling carbon capture to achieve policy parity with other low-carbon options, such as solar and wind.
The report outlined what is needed to propel progress for CCUS technologies, which ultimately would lead to near-zero emissions from coal, and is recognized by global leaders as essential to our carbon goals. Key recommendations included a first-of-its-kind regulatory blueprint to remove barriers to construction and development of CCUS projects, as well as a call for communication and collaboration among global policymakers.
Key recommendations include:
Financial Incentives: Financial incentives for CCUS must be substantially increased and broadened to include incentives available to other clean energy sources.
Regulatory Improvements: A first-of-its-kind regulatory blueprint is needed to remove barriers to construction and development of CCUS projects.
Research, Development and Demonstration: The DOE must be a catalyst for additional commercial-scale demonstration projects, and such projects must commence immediately.
Communication and Collaboration: The U.S. Department of Energy must assure U.S. and global policymakers and other stakeholders that fossil fuels will be used in coming decades to a greater extent than today, and there is a resulting need for CCUS.
As we look ahead, we must put in place a technology path for long-term improvement in carbon emissions that will enable the world to use more energy, while keeping electricity available and affordable.