Risk Management For Carbon Capture And Storage - Scenario Planning To Assess Strategic Risks
Abstract
Carbon capture and storage (CCS), although not fully deployed at commercial scale in Alberta, is gaining traction as a primary means of reducing CO2 emissions from large industrial greenhouse gas emitters. Such faith a process with little insight into long-term certainty sheds light on risks which may or may not be considered thoroughly, particularly from an organizational viewpoint on the impact to objectives. This research explored a number of such risks (not all) and how they interplay with these objectives, positively or negatively and discussed those which are within organizational control and those relying on other factors. The results suggest there may be more risk factors outside the control of organizations considering CCS implementation, with further research needed into areas such as scenario planning to more accurately determine if pursuing CCS is in the best interest of corporate objectives and how uncertainties of the future can impact decisions made in present day.