G20 Promotes the Circular Carbon Economy (CCE)

Energy Press Releases Monday November 2, 2020 08:00
RIYADH Saudi Arabia--2 Nov--PRNewswire/InfoQuest

In their ministerial meeting on 27-28 September 2020, the G20 Energy Ministers have agreed on a communique where they endorsed the Circular Carbon Economy Platform as a tool to manage emissions and foster access to energy. G20 Energy Ministers have acknowledged the Circular Carbon Economy (CCE) approach as a holistic, integrated, inclusive, and pragmatic approach to managing emissions that aims to provide new pathways towards economic growth.

Ministers stated that, "We acknowledge that the CCE approach is a holistic, integrated, inclusive, and pragmatic approach to managing emissions that can be applied reflecting country's priorities and circumstances. By encompassing the broad range of pathways and options available it takes into account different national circumstances, while striving to meet our shared global aspirations…taking into account national and regional contexts, we will endeavor to explore various opportunities, including, the CCE Platform and existing G20 programs and initiatives, to advance transitions towards affordable and reliable energy for all."

"Building upon previous comments made by the G20 Energy Ministers in past Presidencies, we endorse the Circular Carbon Economy (CCE) Platform and its '4Rs' framework (Reduce, Reuse, Recycle and Remove) while acknowledging and recognizing the key importance of reducing greenhouse gas emissions," declared the G20 Energy Ministers after their second meeting this year. Their first meeting was held exceptionally on 10 April 2020 as a response to the pandemic impact on the energy sector.

The CCE approach is built on the '4Rs': Reduce, Reuse, Recycle, and Remove to advance stable and secure energy markets and energy access for all while holistically managing emissions and advance cleaner and more sustainable future. Moreover, reduction can be achieved by encouraging technological innovations like renewables, efficiency and nuclear. "Reuse" refers to converting emissions into value added materials to industries by utilizing and advancing Carbon Capture and Utilization (CCU), and Emissions to Value (E2V). "Recycle" means relying natural processes and decomposition, including the use of energy carries like hydrogen, methanol and ammonia representing the natural cycle and recycling. Lastly, "Remove" revolves around implementing natural and geological Carbon Capture and Storage, Direct Air Capture, and natural based solutions to remove emissions from industries and the atmosphere.

The G20 presented the CCE Platform that includes the CCE Approach, Guide, and the Accelerator. The CCE Guide provides a toolkit of opportunities recommended options to be utilized by G20 members and beyond, each according to their different national circumstances, needs, and priorities. King Abdullah Petroleum Studies and Research Center (KAPSARC) has led the CCE Guide efforts to address these challenges. CCE adoption can also be found in the private sector. For example, Saudi Aramco, the world largest Energy company, states on their website: "We are adopting and implementing energy efficient technologies and practices… energy efficiency is a key component in our strategy to increase the sustainability of our operations. Championing and practicing energy efficiency help us reduce emissions, improve the operational performance of our plants and facilities, and promote environmentally responsible communities."

The CCE approach can help address crucial issues facing the world in achieving universal access to energy. It is in this spirit that the G20 is working to ensure energy access to all, especially vulnerable groups. Also, the G20 continue to support institutions with frameworks to employ the private sector and enable affordable reliable energy access. G20 members are to apply these systems taking into account system efficiency and national circumstances, including its specific resources endowment and its political, economic, environmental, social, and risk-informed development contexts.

Further information about the G20, including the Presidency Agenda and full program of events, can be found at www.g20.org.

Latest Press Release

Dual String Gas Lift First Helps South East Asia Operator Achieve Digitalization Vision

Silverwell has completed the world's first successful offshore installation of an intelligent dual string gas lift completion for a client in South-East Asia. Two independently surface-monitored and controlled gas lift production optimisation systems...

Shipments of LONGi high-efficiency bifacial modules reach 10GW

Shipments of LONGi's high-efficiency bifacial modules have now reached 10GW, with expectations that production will reach 12GW by the end of 2020. Bifacial modules are now one of the more mature developments in solar panel technology. Thanks to their...

Saudi Arabia's Electricity Sector Undergoes Largest, Most Comprehensive Transformation On A Global Scale

Expected outcomes include more efficient power generation, increased reliability of service, reduction in the use of liquid fuels for electricity generation, and creating a more financially viable and sustainable sector A press conference was held on...

Ascend introduces HiDura(TM) long-chain polyamides

Ascend Performance Materials has launched several new grades of its HiDura(TM) long-chain polyamides for engineered plastics, monofilaments and cable ties. HiDura polyamide 610 and 612 are designed to provide exceptional dimensional stability and long...

Sasol announces beneficial operation of Louisiana low-density polyethylene (LDPE) unit

Sasol today announced our LDPE unit reached beneficial operation on 15 November 2020. The LDPE unit is the seventh and final Lake Charles Chemicals Complex unit to come online. The LCCP is now 100 percent complete with total capital expenditure forecast...

Related Topics