Global CCS Institute regulatory test toolkit
In 2013, the Victorian and Australian governments, in collaboration with the Global CCS Institute, deployed the Institute’s carbon capture and storage (CCS) regulatory test toolkit (the toolkit) for the first time in Australia.
The toolkit is a regulatory test exercise that aims to help governments establish whether their carbon capture and storage (CCS) legislative and regulatory frameworks are fit for purpose, providing a low-cost, low-risk approach to testing regional and national legislation and regulatory systems for CCS projects. The toolkit was originally developed for the Scottish Government and sponsored by the Global CCS Institute. It has since been deployed in jurisdictions such as Romania, Trinidad and Tobago, and Malaysia.
A project such as CarbonNet has the potential to be the first commercial scale CCS project in Victoria, and the regulatory test toolkit was deployed to help improve regulatory understanding and test the approvals framework.
Approximately 40 key Commonwealth and Victorian regulators who would potentially be involved in regulating a Victorian CCS project took part in a one day workshop held in Melbourne in August 2013. The workshop involved analysis of the regulatory framework in relation to a hypothetical project scenario, which was developed in the absence of a Victorian real life project design. The focus was on increasing understanding of the CCS process, the applicable legislation and regulations, and identification of potential issues, gaps, overlaps and opportunities.
The report presents the workshop outcomes, including the key themes and recommendations. A steering committee will collaborate with policy makers and regulators to review and progress the recommendations arising from the workshop.