The CO2 Solutions Coalition has launched to educate lawmakers, regulators, and the public about the necessary and beneficial uses of carbon dioxide (CO2) in diverse and essential applications.
Led by the Compressed Gas Association (CGA), the coalition is dedicated to advancing the responsible use of CO2, maximising the benefits of innovative carbon capture and utilisation technologies, and safeguarding the US’ delicate supply chain.
Supporting the CGA are the coalition’s founding members, which include the American Beverage Association (ABA), International Beverage Dispensing Equipment Association (IBDEA), and the Gas and Welding Distributors Association (GAWDA).
Rich Gottwald, President and CEO of CGA, said he is thrilled to launch the collaborative effort to safeguard the many critical uses of CO2.
He continued, “As we work towards a low-carbon economy, it is crucial that we leverage the power of carbon capture and utilisation technologies while avoiding any unintended harm. The CO2 Solutions Coalition will serve as a bridge between industry, regulators, and lawmakers.”
Gottwald shared further insights on the CO2 Solutions Coalition at gasworld’s North American CO2 Summit in Indianapolis.
When it comes to the CO2 market, he notes that if you’re not on the table when it comes to policymaking, you’re on the menu, and the CO2 industry is not on the table; it’s on the menu.
But since the launch of the CO2 Solutions Coalition, the market has been more at the table than ever before, he told event attendees. However, he did also note that there is more work to be done to ensure that policy benefits those that need CO2 as a vital part of their business.
To achieve this, the coalition has two phases. Phase one is education, and it has three objectives:
Phase one is education, and it has three main objectives:
Educate federal policymakers on the essential and beneficial uses of CO2 in food processing, beverage carbonation, drinking water purification, disease diagnosis, and more.
Raise awareness that policies to reduce CO2 emissions, including tax policy, may result in potential “unintended consequences” and supply disruptions for end-users of CO2.
Build congressional and administration champions willing to engage and advance policy on the coalition’s behalf to prevent or quickly mitigate any supply disruptions that may occur.
Phase two is to change policy, and it also has three main objectives:
Short-term: shape the treasury implementation of the 45Q tax credit, including who/what applications are eligible.
Mid-term: Seek congressional action to address CO2 markets, including additional incentives for CO2 suppliers and end-users, including direct government funding through grants or financing that may support new sources for CO2.
Long-term: Establish long-term policies that protect and encourage the evolution of the market for suppliers and users of CO2, recognising the key use of this product for critical industries.
CO2 is used in myriad applications that are invisible but essential to society, including food freezing and processing, beverage carbonation, welding and infrastructure, medical procedures and vaccine transportation, fire suppression, semiconductor production, and more.
The coalition will educate policymakers on potential pitfalls and opportunities to reduce or mitigate any unintended consequences from policies seeking to reduce CO2 emissions that may disrupt supply to end-users and US consumers in these sectors, causing shortages of essential goods and services.
source: gasworld.com
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