Socio-economic Aspects of CCS Technologies

Abstract

Economic viability and public support are key factors of concern, along with technological advancement and ecological impact, for the implementation of Carbon Capture and Storage (CCS) technologies, an increasingly urgent priority, to contribute to reducing greenhouse gas emissions linked to global climate change, and building a low-carbon economy towards sustainable development. In the present study, recent socio-economic aspects of CCS technologies are discussed. Although real cost estimation for CCS is generally considered a difficult task, an estimated relatively high cost and energy requirements of these technologies, along with an uncertainty over public acceptance of CCS, appear major barriers to the deployment of a substantial commercial market, constraining the economic viability and policy making for the application of CCS. The full life-cycle cost of CCS must be considered in an overall social/environmental/economic/political context. Social research conducted using various tools can provide an insight into several factors influencing and shaping public awareness and perceptions of CCS, in order to promote communication of expert knowledge and participation, and to enhance the required social acceptance for the advancement of these technologies.