Proceedings Title : Proc. Indon. Petrol. Assoc., 48th Ann. Conv., 2024
Carbon Capture, Utilization, and Storage (CCUS) technology is recognized as a pivotal solution in addressing climate change by reducing carbon dioxide (CO2) emissions. In line with the Paris Agreement's goal to limit the global average temperature rise to under 2°C, the importance of CCUS technology is increasingly critical. Despite the long-term vision of transitioning to renewable energy, CCUS emerges as a vital interim solution for achieving net-zero emissions. Indonesia's potential to become a CO2 storage hub in Asia is significant, underscored by its geological capacity to store up to 642 GT of CO2. This potential not only places Indonesia at the forefront of regional climate change mitigation efforts but also opens avenues for economic benefits through storage fees for CO2 imported from abroad.
The establishment of a CO2 hub is central to Indonesia's strategy for early adoption and optimization of CCUS technologies, acting as a centralized facility for CO2 storage from various sources. This strategy addresses challenges related to technology readiness, funding, and policy development, making it a practical and cost-effective approach for Indonesia. It also sets the stage for leveraging existing infrastructure to enhance the country's capacity for managing domestic CO2 emissions in the future.
It is crucial to position Indonesia as a storage hub for international carbon, given the limited commitment from domestic industries to capture their CO2 emissions. This approach faces internal resistance due to negative sentiments about storing foreign CO2, perceived as treating Indonesia as a dumping ground. This stigma overlooks the economic benefits and environmental responsibility of storing foreign CO2 once domestic emissions are managed. In conclusion, establishing a CO2 hub is not only strategic but also beneficial for Indonesia, emphasizing the country's commitment to environmental responsibility and its pivotal role in global climate change mitigation efforts.
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