China-Carbon Capture and Storage Road Map
"The Asian Development Bank (ADB) is assisting the People’s Republic of China (PRC) in the development of a road map for carbon capture and storage (CCS) to help achieve the country’s carbon dioxide (CO2) emissions reduction goals.
ADB will assist the PRC in developing a detailed plan for a staged demonstration and deployment of CCS, which is an essential set of technologies to prevent climate change. CCS involves the separation and capture of CO2 and compression, transportation, and injection of the captured CO2 in a suitable underground storage.
CCS application can prevent up to 90% of CO2 emission from large emission sources like fossil fuel-based power plants. However, its development has been slow. To date, no large-scale CCS project attached to a fossil fuel-based power plant is operational anywhere in the world.
Since 2008, ADB has been supporting the government’s efforts through capacity development projects, studies, and financial assistance. Incomplete policy and regulatory framework, low fiscal and financial support for CCS demonstration projects, and inadequate international funding mechanisms to support projects have been identified as key barriers to large-scale demonstration of CCS in the PRC."