Yesterday we at Stockholm Exergi arrived at COP27 here in Sharm-el Sheikh, Egypt. We are excited that our three days here will take us another step in the right direction towards our ability to establish the production of negative emissions at our biomass-powered combined heat and power plant in Stockholm. I would say that our participation here focuses on two things:
– Firstly, continuing to make it clear that we want to contribute to a solution where private and public capital can work together to create as much climate benefit as possible. There is some uncertainty these days about how to interpret parts of the Paris Agreement, so in order for us to get a voluntary market for negative emissions in place, the regulatory framework needs to be clear.
– Secondly, having a constructive discussion with Swedish policymakers and authorities on the regulatory challenges required to capture, transport and store carbon dioxide in the first place. Without these foundations, there will be no trade.
I must say that our first day here in Egypt lived up to our expectations in several respects. Two sessions organized by Nasdaq focused on the possibility of negative emissions trading and the obstacles and opportunities that come with it – great focus on important issues! Our CEO Anders Egelrud also participated in a roundtable discussion with Sweden’s Minister for International Development Cooperation and Foreign Trade Johan Forssell, part of which revolved around the issue of emissions trading. Of course, Johan Forssell received a bottle of captured carbon dioxide after the meeting 🙂 The new Swedish government has already signaled its clear support for BECCS on several occasions and that clarity is very valuable for our continued efforts.
Today is our second day at COP27 with a packed program underway, with more to come. For example, Anders Egelrud is participating in several seminars including one that Stockholm Exergi itself as arranged. See where we’ll be participating as part of Business Sweden’s program on site in Egypt: https://invitepeople.com/events/30201/seminars