Enactment Of The Carbon Dioxide Capture, Utilization And Storage Act (CCUS Act)

The "Carbon Dioxide Capture, Usage and Storage Act" (the CCUS Act) proposal has been passed at a plenary session of the National Assembly on January 9, 2024 and is scheduled to come into effect one year after its promulgation. The CCUS, representing the capture, utilization, and storage of carbon dioxide, technology is globally recognized as a bridge technology for achieving carbon neutrality by 2050, and the legislation supporting CCUS-related projects is being actively advanced at a global level. For instance, in the United States, the Inflation Reduction Act has established a tax-credit program that offers $85 per ton of CO2 for carbon dioxide capture and storage (CCS) projects and $60 per ton of CO2 for CCUS projects. Meanwhile, the European Union, under the Net-Zero Industry Act, aims to reach an annual carbon storage capacity of 50 million tons by 2030 and has designated CCS technology as one of the eight 'Strategic Net Zero Technologies'. The initiative is