Carbon Takeback Obligation CTBO
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= Introduction = | = Introduction = | ||
| − | The Carbon Takeback Obligation (CTBO) is an initiative that requires producers and importers of fossil fuels to develop methods to store a portion of the CO2 created by their | + | The Carbon Takeback Obligation (CTBO) is an initiative that requires producers and importers of fossil fuels to develop methods to store a portion of the CO2 created by their activities. This proportion will increase over time. The purpose is to provide incentives for produces to keep CO2 permanently out of the atmosphere. |
= Holding producers accountable for CO2 = | = Holding producers accountable for CO2 = | ||
| − | CTBO | + | The CTBO policy initiative was introduced by the report ‘[https://uploads-ssl.webflow.com/5f3afd763fbfb08ae798fbd7/60336e65ccc97506f7fc4036_CTBO_Final_Report_Jan_2021_Complete.pdf Carbon Takeback Obligation - A Producer Responsibility Scheme on the Way to a Climate Neutral Energy System]’, published in January 2021 and written by Margriet Kuijper Consultancy, De Gemeynt and Royal HaskoningDHV. |
According to Margriet Kuijper, project leader of the study: "A CTBO stipulates that the net CO2 emissions from this inevitable use of fossil fuels will go to zero in a timely manner". | According to Margriet Kuijper, project leader of the study: "A CTBO stipulates that the net CO2 emissions from this inevitable use of fossil fuels will go to zero in a timely manner". | ||
Revision as of 07:36, 27 April 2021
Contents |
Introduction
The Carbon Takeback Obligation (CTBO) is an initiative that requires producers and importers of fossil fuels to develop methods to store a portion of the CO2 created by their activities. This proportion will increase over time. The purpose is to provide incentives for produces to keep CO2 permanently out of the atmosphere.
Holding producers accountable for CO2
The CTBO policy initiative was introduced by the report ‘Carbon Takeback Obligation - A Producer Responsibility Scheme on the Way to a Climate Neutral Energy System’, published in January 2021 and written by Margriet Kuijper Consultancy, De Gemeynt and Royal HaskoningDHV.
According to Margriet Kuijper, project leader of the study: "A CTBO stipulates that the net CO2 emissions from this inevitable use of fossil fuels will go to zero in a timely manner".
CTBO is similar to incentives that have been adopted in other areas of production, where manufacturers are given the physical and financial responsibility of managing the disposal of products that contain substances that are considered harmful to human health and the environment.
CTBO and other initiatives
It is believed that the CTBO could be paired with the Government policy of Contracts for Difference (CfDs) to produce a marketplace where companies could trade certificates of storage. It is believed that the outcome of this partnership would encourage the development of carbon capture and storage (CCS) technologies as companies are given incentives to seek to lower their costs associated with the CTBO, and could see the UK becoming a world leader in carbon trading.
According to the Energy White Paper, Powering our Net Zero Future (CP 337), published in December 2020 by HM Government, the CfD is: ‘The main support mechanism for large scale low-carbon electricity generation projects. Successful projects are awarded a long-term contract which secures a price to which they will either be topped up if electricity prices are low, or pay back to if electricity prices are high.’
Related articles on Designing Buildings Wiki
- Aligning net zero with the levelling-up agenda.
- Carbon capture and storage.
- Contracts for Difference.
- Decarbonise.
- Using CO2 to make construction products and materials.
- Zero Carbon by 2050 - pipe dream or possibility?
External resources
- HM Government, Energy White Paper, Powering our Net Zero Future (CP 337).
- Margriet Kuijper Consultancy, De Gemeynt and Royal HaskoningDHV, Carbon Takeback Obligation - A Producer Responsibility Scheme on the Way to a Climate Neutral Energy System.
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