SUSTAINABLE FINANCE
complete decarbonisation may not be immediately possible – power demand is growing and many new technologies are not yet economically viable.
Where decarbonisation is challenging, CCS could provide a solution that allows these industries to continue while emissions are reduced. Singapore, for example, has limited access to renewable energy and heavily relies on natural gas for its power supply. The S-Hub crossborder initiative, with ExxonMobil Asia Pacific and Shell Singapore involved, tools to develop a CCS project that can capture and permanently store at least 2.5 million tonnes of CO₂ each year by 2030. This project includes work with Indonesia, Japan and Malaysia as part of the country’ s plan to decarbonise hard-to-abate sectors.
Overcoming challenges for CCS in Asia Standard Chartered’ s report says there are three core challenges when scaling CCS:
• Insufficient or unclear frameworks
• A lack of cross-border regulatory alignment
• Supply chain readiness
• A roll out of CCS regulation will be needed to support CCS development including CO₂ criteria and crossborder conditions.
84 March 2026