| dc.description.abstract | Today, Carbon Capture and Storage (CCS) is considered by many as the most credible and costeffective
method of combatting global warming and meeting the climate change targets. Despite
this, CCS remains a novel technology within the Norwegian iron and steel sector. Thus, the aim
of this thesis is to analyse the macroenvironment surrounding CCS for this sector. This is done to
understand how well the Norwegian iron and steel sector is suited for CCS implementation, and
to what extent government policies are necessary in order to accelerate development and
deployment of the technology. The research questions are answered using a combination of the
PESTEL framework and environmental economic policies.
PESTEL allows for the identification of opportunities and barriers in the market. The results from
this analysis reveal that the Norwegian Government shows a high degree of commitment to CCS
through specific projects and funding. However, as the cost of CCS exceeds the cost of carbon set
by the EU ETS, CCS is not currently an economically viable abatement technology for the iron
and steel case facilities. For this reason, government policies are necessary to boost development
and deployment during a ramp up stage, until the cost of CCS falls or the price of carbon rises.
While it is clear that government involvement is required, which policies are most effective is less
obvious. Yet, based on the PESTEL findings, it appears that policy attention should be directed
towards decentralised and incentive-based policies instead of command-and-control policies.
Furthermore, policies should not be implemented in isolation. Instead, a combination of policies
is necessary to achieve the desired goals. | en_US |
