The People's Republic of China's 13th Five Year Plan is characterized by a shift from intensive growth to an increased focus on efficiency and long-term sustainability. Lacking a national plan for carbon capture and storage (CCS) demonstration and deployment, China partnered with the Asian Development Bank to produce this road map, which outlines the technical, legal, policy, financial and public engagement solutions needed to move CCS to full-scale commercialization. It provides decision-makers with a scientifically informed vision of the China's use of CCS over the short, medium, and long term, with specific actions to be taken during the period of the 13th Five Year Plan. Among the key takeaways are that CCS is essential for climate change mitigation, China can benefit from international experiences, low-cost CCS demonstration opportunities exist in China, CCS requires targeted support, the economic rationale for CCS will survive oil price drops, and a phased approach to CCS demonstration and deployment is needed. The document contains over 60 action items China should pursue to support these goals, according to the authors.
Asian Development Bank