New Zealand is making headlines with its first carbon capture and storage (CCS) project. It’s often seen as a bold move to tackle climate change. But many are questioning if it’s viable.
According to RNZ’s climate correspondent, Eloise Gibson, the project might not get off the ground soon. She emphasizes that while the project plans to start around 2027, it may not deliver significant results by the deadline of 2030. “It’s an important tool, but it won’t be a quick fix,” she says.
The CCS initiative, led by Todd Energy, aims to capture carbon dioxide from industrial processes and store it underground in Taranaki. The goal is to store a million tonnes of CO₂ by 2030, contributing significantly to New Zealand’s emission reduction targets.
However, the project faces challenges. Gibson notes that Todd Energy needs either more funding or fewer liabilities to proceed. The carbon price in New Zealand remains low compared to other nations, making investment in CCS trickier. There’s also uncertainty about who would be liable if there was a leak years down the line.
Globally, CCS has shown mixed results. While some projects, like Norway’s Sleipner, have safely stored CO₂ for decades, others have failed, wasting billions. New Zealand’s unique geology, with its seismic faults, adds another layer of risk. If CO₂ leaks, it could undo hard-fought emissions gains and harm local ecosystems.
Some critics worry that CCS could become a “get-out-of-jail-free card” for polluters. Yet if this project falters, what alternatives exist for the government? Gibson points out the need for an “adaptive approach” to emissions budgets, allowing for flexibility if plans change.
The climate minister has indicated that there isn’t much on the table to replace CCS should it fail to materialize. Many policies from previous administrations have been cut, leaving a significant gap in strategies to achieve the necessary emissions savings.
Gibson believes it’s vital for the government to explore all possible solutions. “This is not the time to ignore options,” she adds. “But we shouldn’t focus solely on expensive solutions when we have proven methods available.”
As the debate continues, the stakes are high. New Zealand must act swiftly to meet its climate commitments while balancing innovative strategies with realistic outcomes.
For more insights into New Zealand’s carbon initiatives, you can visit this government report.
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