Techno-economic assessment and life cycle assessment guidelines for CO2 utilisation

CO2 utilisation technologies, also known as carbon capture and utilisation (CCU) or CO2 re-use, capture CO2 and convert it into new products or services. CCU is gaining momentum as academia, industry and governments seek solutions to reduce emissions and create new business opportunities.

But benefits cannot be taken for granted and questions about economic viability, environmental impacts and trade-offs between economics and the environment have to be carefully analysed. To enable informed decision-making, systematic and standardised assessment is required, involving a combination of techno-economic assessment (TEA) and life cycle assessment (LCA) so that studies can be easily comparable and allow informed decisions.

EIT Climate-KIC and other bodies (e.g. The Scientific Advice Mechanism (SAM) of the European Commission) and practitioners have recognised the need for a set of common assessment guidelines. Since 2017, EIT Climate-KIC has supported the development of Techno-Economic and Life Cycle Assessment guidelines to enhance reliability, transparency and comparability of data for CO2 utilisation.

As research and technology readiness levels in CCU mature, investors and funders require clarifications on the potential impact of these technologies. The guidelines allow technologies to be compared based on their climate mitigation potential, guiding research and practitioners in their assessment of technical, environmental and economic benefits. The guides will also support companies that are trying to choose between bio-based, CCU and other waste routes to create their products and need data for comparisons.

From 2014 to 2017, EIT Climate-KIC has been fostering innovation for CO2 re-use technologies for polymers and chemical intermediates (for example fibres, rubbers and dampers) at industrial scale. In 2017, our strategy shifted to systems transformation, identifying information flows, standards, market structure and skills as key drivers to enhance our understanding of socio-economic and environmental implication of CO2 utilisation technologies. Findings were translated into a set of free online courses on CO2 reuse, making essential information and facts on CCU accessible to a broad variety of stakeholders.

The guidelines were produced in partnership with the University of Sheffield, RWTH Aachen, IASS Potsdam, TU Berlin, and supported by the Global CO2 Initiative at the University of Michigan, EIT Climate-KIC and several other partner organisations. The first version of these guidelines was published and disseminated in October 2018 in Brussels.

 

 
Location
Related Goal
Goal 8: Reduce industry emissions
Articles you may be interested in
In The News
COP24: Social innovation to drive just transition of coal regions

With the carbon costs of travel in mind, key...

COP24: Social innovation to drive just transition of coal regions
In Detail
DLT for climate action assessment

DOWNLOAD THE REPORT Over the past decade, we’ve witnessed a myriad of milestones that have put the vision of a prosperous, climate-resilient society on...

DLT for climate action assessment
In The News
EIT Climate-KIC’s ConnectedClusters launches at EUROCITIES

EIT Climate-KIC’s ConnectedClusters project—which aims to accelerate innovation clusters...

EIT Climate-KIC’s ConnectedClusters launches at EUROCITIES
Opinion
St. Patrick is on a Mission – #MissionFinance 1.5 C
Sandra Vlašić, Partnerships, Resources and Stories Terra Hub
St. Patrick is on a Mission – #MissionFinance 1.5 C
In our community
EIT Climate-KIC to showcase its top 30 cleantech startups during Slush 2018
EIT Climate-KIC to showcase its top 30 cleantech startups during Slush 2018
In The News
How to unlock the finance needed for integrated landscape approaches

Why integrated landscape approaches matter and how to unlock...

How to unlock the finance needed for integrated landscape approaches
In The News
Regional Innovation Scheme start-ups showcase cleantech achievements supported...

Last month (October 2018) in Vienna, Austria, 32 start-ups...

Regional Innovation Scheme start-ups showcase cleantech achievements supported by EIT Climate-KIC
In The News
City Finance Lab explores new advisory services to catalyse investment in sust...

With the carbon costs of travel in mind, Climate...

City Finance Lab explores new advisory services to catalyse investment in sustainable cities
In The News
EIT Climate-KIC responds to consultation on Long-Term Strategy for EU GHG emis...

As an active member of the community working to...

EIT Climate-KIC responds to consultation on Long-Term Strategy for EU GHG emissions reduction
Opinion
Distributed ledger technologies are here to stay
Dr. Harald Rauter Regional Innovation Lead, Climate-KIC
Distributed ledger technologies are here to stay
In The News
Search for 100 1.5C-compatible investments launched

The EU-backed Mission Innovation initiative has launched a framework...

Search for 100 1.5C-compatible investments launched
In The News
Can self-reporting be effective for investors?

Most climate and ESG data is self-reported – can...

Can self-reporting be effective for investors?
In The News
Risky business: Why 1.5C-aligned strategies are key to preserving capital

Decision-makers with responsibility for capital need to make bold,...

Risky business: Why 1.5C-aligned strategies are key to preserving capital
In The News
No alternative: Making sustainable infrastructure the only option

Only a fraction of global climate finance is reaching...

No alternative: Making sustainable infrastructure the only option
In The News
Could ambitious financial regulation be a key driver of climate action?

With the carbon costs of travel in mind, Climate...

Could ambitious financial regulation be a key driver of climate action?
In The News
Bridging the climate adaptation investment gap

Financing climate adaptation took centre-stage at Day 2 of...

Bridging the climate adaptation investment gap
In The News
Re-Industrialise launches at the European Week of Cities and Regions

EIT Climate-KIC and partners recently launched the Re-Industrialise programme,...

Re-Industrialise launches at the European Week of Cities and Regions
In Detail
Reframing our current approach to urban transformations

EIT Climate-KIC gathered the outputs and lessons-learned from an urban transformations community workshop in Malaga, which saw more than 100 city leaders and teams...

Reframing our current approach to urban transformations
Opinion
Reframing perspectives on climate change
Reframing perspectives on climate change
Opinion
Only 20 companies in the world provide 100 per cent greenhouse gas emissions disclosure – Are ...
Only 20 companies in the world provide 100 per cent greenhouse gas emissions disclosure – Are investors in the dark on climate risks?
In The News
Gaining a better understanding of climate risk

The roadblocks that stand in the way of companies...

Gaining a better understanding of climate risk
In The News
The power of persuasion: Great Debate changes audience’s mind on self-re...

With the carbon costs of travel in mind, Climate...

The power of persuasion: Great Debate changes audience’s mind on self-reporting
In The News
A masterclass on climate-related financial disclosure

If we want to keep on track with the...

A masterclass on climate-related financial disclosure
In The News
Transforming financial sector’s core value system may be essential to 1.5C

With the carbon costs of travel in mind, Climate...

Transforming financial sector’s core value system may be essential to 1.5C
In The News
Curbing carbon emissions in company value chains

Most of the world’s largest companies account and report...

Curbing carbon emissions in company value chains
In The News
One hundred 1.5C compatible investments by 2030

New investor framework launched today at European Climate Innovation...

One hundred 1.5C compatible investments by 2030
In The News
‘Fearless Girl’ appears at EIT Climate-KIC’s Climate Innovation Summit

Fearless Girl—the famous bronze statue erected in Lower Manhattan...

‘Fearless Girl’ appears at EIT Climate-KIC’s Climate Innovation Summit
In our community
Interview with Leeor Groen, Venture Manager, Blockchain Valley Ventures
Interview with Leeor Groen, Venture Manager, Blockchain Valley Ventures
In The News
EIT Climate-KIC partners with South Pole for Climate Innovation Summit carbon ...

EIT Climate-KIC’s Climate Innovation Summit (CIS) will feature a...

EIT Climate-KIC partners with South Pole for Climate Innovation Summit carbon offsetting programme
In The News
Financing tomorrow’s new normal today

First published in Environmental Finance as part of a joint...

Financing tomorrow’s new normal today