The federal government has proposed changes to its NGER emissions reporting scheme to accommodate projects that inject CO2 underground to recover more petroleum.
Today's CCS and hydrogen pledges by Prime Minister Scott Morrison mean that in the week of the Biden climate summit he has announced funding for climate change actions totalling slightly more than $1 billion.
Energy research house Wood Mackenzie says today's decision by Santos to proceed with development of the high-CO2 Barossa offshore field means it will have to come up with a range of offsetting measures.
Carbon prices need to increase more than seven-fold by 2030 to limit temperature rise to 1.5 degrees, and CO2 might have to be shipped internationally for sequestration, according to energy research house Wood Mackenzie.