The International Energy Agency has endorsed CCUS, saying it "will need to form a key pillar of efforts to put the world on the path to net-zero emissions".
CSIRO's CO2 Utilisation Roadmap - released last week - is an important document detailing Australia's opportunity to convert carbon dioxide to useful products.
The roadmap identifies how emerging CCUS technologies could be used to support growth opportunities in Australia's food and beverages industry, the creation of zero or low carbon building products and materials, and position Australia for the export of low emissions chemicals and fuels.
CSIRO CEO Dr Larry Marshall said no single technology would take the world to net zero.
"The scale of our challenge in adapting to climate change and decarbonising our industries requires us to draw on every available tool," he said.
"The development and demonstration of high abatement technologies like CCUS has the potential to have a significant impact, as part of our broader efforts to both reduce emissions and lift the competitiveness of our industries."
CSIRO's roadmap complements the work Low Emission Technology Australia is doing to establish a carbon hub in Queensland that will provide the infrastructure and framework for CO2 use and storage for the industrial sectors, as well as unlock clean industries such as hydrogen and ammonia.
LETA CEO Mark McCallum said the ability to turn CO2 from waste streams into lower-carbon products that we used every day, such as cement and building products, not only reduced emissions and carbon intensity, but could also lower the cost of those products.
CO2CRC CEO Matthias Raab said the opportunities identified in CSIRO's CO2 Utilisation Roadmap highlighted prospective avenues for Australia to capitalise on CCUS technologies.
"Research and demonstration remain fundamental to creating a clear pathway to commercial deployment and deep decarbonisation at scale," he said.
CO2CRC has an active research and demonstration portfolio in areas of CO2 utilisation, including direct air capture.
Direct Air Capture technologies are maturing rapidly around the world and field deployment is required to prototype at scale.
CO2CRC's Otway International Test Centre is equipped and ready to test and demonstrate DAC units with the captured CO2 able to be stored underground.
"This is yet another unique advantage for Australia to innovate, demonstrate and verify the viability of a highly prospective technology," Raab said.
"And, we can do it faster than anywhere else in the world."
Hogsback reckons coal is a resource that needs to be managed at all stages of its production and use.
CCUS offers a smart way of treating coal carbon by-products that can add value to Australian industry.
