The legal foundation for responding to the climate crisis and fostering new industries for carbon capture, utilization, and storage (CCUS) has been established.

The 'Act on Carbon Dioxide Capture, Transport, Storage and Utilization' passed the National Assembly plenary session on the 9th.

The Carbon Capture, Utilization, and Storage (CCUS) Act was proposed to establish the legal foundation necessary to respond to the climate crisis and foster the CCUS industry.

Major advanced countries, including the United States and the European Union (EU), recognize carbon dioxide capture, transportation, storage, and utilization technologies as key means of achieving carbon neutrality, and are enacting and operating related laws to foster them as new industries.

On the other hand, in our country, CCUS-related regulations are scattered across about 40 individual laws, and the need for an integrated law has been raised.

The CCUS Act systematically regulates the process of securing and operating carbon dioxide storage facilities, which are essential for reducing greenhouse gases, including selection and announcement of storage candidate sites and permitting storage projects.

In addition, it contains various regulations aimed at establishing a growth foundation for the CCUS industry, including special provisions for carbon dioxide supply, confirmation of specialized companies, and technology certification, and supporting corporate research and development (R&D), start-ups, and discovery of new industries.

In addition, the basis for training specialized personnel, international cooperation, and technology standardization necessary for related technology development and industrial activation has been established.

Energy Policy Officer Choi Yeon-woo said, “The enactment of the CCUS Act will contribute to carbon neutrality and will contribute to the development of CCUS-related “We have established the basis for administrative and financial support for technological development and industrial development,” he said, adding that he would prepare lower-level laws without a hitch in line with the enforcement of the law.

The CCUS Act is expected to be promulgated after being transferred to the government and approved by the State Council in the future, and will be fully implemented one year after its promulgation.