Due to global warming, abnormal climates such as heatwaves, heavy snow, typhoons, and forest fires are appearing all over the world, and South Korea that has a high proportion of fossil fuels and an industrial structure centered on manufacturing has also seen its average temperature rise 1.4℃ over the past 30 years, further intensifying its warming tendency.
Following the adoption of the Kyoto Protocol(1997), which recognizes the seriousness of the climate change problem and obliges developed countries to solve it, the Paris Agreement, in which both developed and developing countries participated, took effect on November 4, 2016. South Korea ratified the Paris Agreement on November 3, 2016.
Afterwards, South Korea announced the “2050 Carbon Neutralization System” and also adopted CCUS(Carbon Capture, Utilization and Sequestration) as a means for the carbon neutrality. CCUS is used in many countries as a means to reduce carbon dioxide. In particular, in the United States, which can be called an advanced CCUS country, it is implemented through various legislation and policies.
In the U.S., CCUS is promoted by the Ministry of Energy and the Environmental Protection Agency, and the Clean Air Act, Safe Drinking Water Act, Bipartisan Budget Act, Energy Act of 2020, Clean Economic Jobs and Energy Act, and Energy Policy Act.
Even today, the U.S. has recently presented the few notable legislation bills such as the ACCESS 45Q Act, the Carbon Capture Modernization Act, the CO2 Storage and Emission Reduction Act(SCALE Act of 2021), the Carbon Capture, Utilization, and Storage Tax Reduction Act(Carbon Tax Credit, and Storage Tax Credit, 2021).
The legislation in the U.S. on CCUS has various implications, including the need for technology development, infrastructure and market creation, the need for a single CCUS Act, active incentives for central and local governments, measures to strengthen public acceptance, prevent possible damage, and establish an effective implementation system. Through this, it is necessary to continue discussions in the process of legislation in Korea.