Monday, January 26, 2009

Insurance for Carbon Capture and Storage

One of the big unknown costs for CCS has always been insurance - it's also a show stopper. Companies are unlikely to self insure (they probably won't have the capital just lying about just-in-case something goes wrong), meaning that unless they can get insurance nothing will happen.

Zurich insurance services has just announced a carbon capture and storage insurance package - covering this gap.
Obviously they can't even give a rough cost estimate, since the insurance is highly bespoke, I would imagine depending upon such things as geology, volume of CO2 to be stored, purity (etc.).

It's another step in the right direction.

No comments: