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ClimateWise: New study could remove an obstacle to carbon capture and storage

November 2012 – A large number of the operational risks in the CCS storage process can be addressed through existing risk mitigation and risk transfer options that are familiar to the insurance and oil and gas industries. This represents a significant market opportunity for the insurance industry.

ClimateWise CCS Report Nov

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A new study from ClimateWise could remove an obstacle to Carbon Capture and Storage (CCS), but risk sharing with government is still required. The 'Managing Liabilities of European Carbon Capture & Storage' risk-management study identifies the potential to remove a barrier to the development of CCS technology at scale in Europe, paving the way for more effective action to prevent climate change. The proposal put forward addresses the problem of unlimited liability associated with the risk of leakage of carbon dioxide from storage sites.

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