Clean up our act

In his independent review of the economics of climate change the former chief economist at the World Bank, Sir Nicholas Stern, concluded that the scientific evidence is now overwhelming — climate change is a serious global threat that demands an urgent, collective global response, and the role of new technologies will be crucial.

One of the most exciting developments, and something the Stern Report singled out as particularly significant at the global level, is carbon capture and storage (CCS).

I believe, as do Sir Nicholas and many other experts that development of CCStechnology is vital if we are to reduce emissions and at the same time ensure we have secure energy supplies. This is because, unlike all other low carbon technologies already developed or being developed, it would permit us to continue using fossil fuels to generate electricity in a cleaner way.

Successful capture and storage would enable us to reduce CO

emissions from fossil fuel power generation by up to 90 per cent. This is vital in a world where, for example, global demand for coal is set to grow by over 70 per cent by 2030 and where China alone built an average of one new coal-fired power station every four days in 2006.