Could direct ocean carbon capture and storage become a crucial tool to meet global climate goals?

The development of a comprehensive legal framework for direct ocean carbon capture and storage (DOCCS) is a significant step towards addressing the pressing issue of climate change. The Sabin Center's research on this topic highlights the potential of DOCCS as a complement to emissions reductions, with early studies suggesting it could result in the storage of billions of tonnes of carbon dioxide annually. The international legal framework for DOCCS is broad and includes agreements such as the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, which require parties to take actions to mitigate climate change by enhancing carbon dioxide sinks. The US legal framework is also being explored, with federal and state laws overlapping in complexity. A dedicated regulatory framework could help overcome these challenges. However, careful siting, design, and operation of DOCCS systems are essential to mitigate the risks associated with this technology, including harm to nearby water ecology and marine organisms, as well as potential leakage of carbon dioxide from pipelines and other facilities. The development of large amounts of new infrastructure and considerable use of energy could also have adverse impacts on communities and the environment. Despite these challenges, DOCCS has significant climate mitigation potential, and its deployment could play a crucial role in removing some of the more than 1.6 trillion tonnes of carbon dioxide humans have emitted since the industrial revolution. Further research is needed to fully evaluate DOCCS, but this development represents an important step towards addressing the climate crisis. The significance of this development for ESG professionals and investors lies in its potential to provide a low-carbon solution to meet global climate goals. As the world transitions towards a low-carbon economy, technologies like DOCCS will play an increasingly important role in reducing greenhouse gas emissions. However, careful consideration must be given to the risks and challenges associated with this technology, as well as the need for a comprehensive regulatory framework to ensure its safe and responsible deployment.

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