Launched in December 2022, the Carbon Management Programme of the Oxford Institute for Energy Studies is dedicated to the advanced study and exploration of business models for deploying breakthrough low-carbon technologies that enable a smooth transition to a net-zero world. In particular, these technologies include carbon capture, utilization and storage (CCUS) and carbon dioxide removal (CDR) solutions, both tech- and nature-based.

As part of the wider Energy Transition Research at OIES, this Programme investigates key issues pertinent to the future development of these solutions, including enabling policy and regulatory frameworks, in the context of different sectors and regions. The Programme also investigates the role that carbon markets, both voluntary and compliance, play in mobilizing investments into these technologies. For a more in-depth description of the scope of this research, listen to this podcast.

The Programme’s research activities focus on three key thematic areas:

Carbon Capture, Utilization and Storage (CCUS)

This research strand explores the applicability of CCUS – including provision of economic, policy and regulatory outlook for the technology – in different sectors, namely oil & gas, steel, cement and waste-to-energy. The research also evaluates the potential of different policy support mechanisms, such as tax crediting and carbon taxation, in scaling up CCUS in different regions. Comparative analysis with alternative decarbonization solutions in different sectors is also undertaken, such as movement towards hydrogen adoption (e.g. in steel production) and renewables.

Carbon Dioxide Removal (CDR)

COP27 highlighted the need to remove CO₂ out of the atmosphere if we were to achieve the climate targets set under the Paris Agreement. Research within this strand evaluates the role of different CDR solutions in the energy transition and towards meeting these targets. CDR solutions can be broad, so this research will focus on key issues pertaining to the most promising removal solutions, such as direct air capture (DAC), bioenergy with CCS (BECCS) and biochar production, while also exploring the applicability and scalability of other more nascent solutions. As part of this research, case studies are undertaken to prescribe viable business models for specific CDR solutions in different regions, including other topical issues such as potential for negative emissions generation, realisation of cost reductions over time, and the significance of durability or permanence of removal on the quality of these solutions.

Carbon Markets

The Programme’s third research area focuses on the potential to integrate CCUS and CDR solutions into voluntary and compliance carbon markets. More specifically, this research prescribes solutions to key outstanding challenges that have hindered CCUS and CDR developments within the context of voluntary carbon markets and emissions trading schemes. These include, but are not limited to, the development of rigorous carbon accounting frameworks, approaches to account for permanence of removal and risk of leakage/reversal, and analyses of the type of corporate claims which can be made by investing in these solutions. This research also provides prospects for the development of CCUS/CDR solutions within the framework of Article 6 of the Paris Agreement.

The Carbon Management Programme’s research output will be disseminated in the form of research papers, short insights and comments and academic publications. The Programme also publishes insights on current carbon-related issues through the OIES podcast series. On occasion, Programme staff take part in industry and academic conferences, connecting with a wide network of experts in CCUS, CDR and carbon markets. The Programme’s research group includes core staff, in addition to a growing network of visiting research fellows who have deep expertise in specific areas of carbon management.

The Carbon Management Programme welcomes expressions of interest from prospective Sponsors who would like to join our existing group of Sponsors. The Programme also welcomes expressions of interest from visiting researchers who are experts in and passionate about this research. For further information, please get in touch with Hasan Muslemani

The Programme acknowledges the kind support provided by its Sponsors, without which this research could not be undertaken.