KETEP 세계에너지시장정보

Executive summary .................................................................................................................. 7 

The strategic challenge of financing CCUS at scale .......................................................... 10 
 CCUS plays an important role in reducing emissions .......................................................... 10 
 Global investment needs to scale across a range of scenarios ........................................... 12 
 Private capital can help fill the financing gap ........................................................................ 14 
 Purpose and contribution of this report ................................................................................. 15 

Distinctive economic and financial factors for CCUS projects ......................................... 16 
 The bankability of CCUS projects depends on the underlying business model................... 16 
 Public support mechanisms shape bankability ..................................................................... 18 
 Risk considerations across the value chain .......................................................................... 19 

CCUS financing structures and trends ................................................................................ 25 
 New business models require new sources of capital .......................................................... 25 
 Public funding remains crucial and is evolving ..................................................................... 28 
 Debt is starting to flow into CCUS projects in jurisdictions and sectors with attractive business case ...... 29 
 Involvement of private equity and infrastructure investors remains limited .......................... 31 
 Multilateral banks can step in earlier in the project lifecycle................................................. 33 
 Green bonds could offer a new avenue for sustainable debt for institutional investors ....... 34 
 CCUS financing structures remain highly market-specific ................................................... 35 

Priorities for risk mitigation, allocation and assessment .................................................. 42 
 Mitigation and allocation strategies are central to securing financing .................................. 42 
 The operational track record can help with risk assessment, but more transparency is needed .... 49 

Recommendations ................................................................................................................. 55 
 Support bankable business models and viable risk-sharing mechanisms ........................... 55 
 Ensure legal and regulatory frameworks are fit for purpose ................................................ 55 
 Harmonise definitions and standards across the value chain .............................................. 56 
 Strengthen risk assessment through data-sharing and early collaboration among governments, developers, financiers and insurers .... 57 
 Increase development funding resources to map CO2 storage potential ............................. 58 
 Include CCUS in sustainable finance taxonomies and transition finance frameworks ........ 58 
 Draw on experiences from other capital-intensive sectors ................................................... 59 

Annex ....................................................................................................................................... 61