Public Acceptance and Willingness to Pay for Carbon Capture and Utilisation Products

Abstract

Although the significance of the social science agenda reflecting and affecting the carbon capture and utilisation (CCU) value chain has been acknowledged, there is still a scarcity of research about it. This work contributes in developing an understanding of public perceptions regarding the acceptance, use, and purchasing of carbon dioxide (CO2)-derived products through an online quantitative survey. Our research suggests the awareness and acceptance of such products are relatively high. Respondents were in favour of CO2-derived product promotion by policy makers and the industry, approved the funding of such schemes by government, and supported companies that use captured CO2 in their products. The product category seems to influence the willingness of people to use and buy CO2-derived products, with our respondents being more willing to use CO2-derived fuels than food or beverages, showing a caution toward health-related risks. Respondents were also more willing to buy a CO2-derived product if it was cheaper or better for the environment. Male respondents were in general less willing to pay for CCU-based products, while people aged 25 to 29 were more positive toward them. We conclude that the public will be in favour of CCU-based products and willing to buy them if the involved stakeholders do their part in delivering a safe product at a comparable quality and price to existing ones. Better information provision can also support this cause.