The Pembina Institute submitted comments to B.C.'s Ministry of Energy and Climate Solutions on their technical discussion paper, entitled Carbon Capture and Sequestration Offset Protocol.
A summary of our comments and recommendations is as follows:
- When it comes to the long-term integrity and safety of sequestered carbon dioxide, the Pembina Institute recommends setting a default monitoring length of time post-closure that can be adjusted based on project-specific risk assessments. Most comparable jurisdictions deploying this model have default monitoring periods of 20 to 50 years post-injection.
- The process for determining adjustments to the monitoring length of time should be transparent, predictable and conducted as early as possible to convey cost certainty to project developers.
- We recommend the establishment of an industry-funded financial security mechanism to ensure the Crown has sustainable means to manage long-term liabilities.
