Initial screening for climate solutions

𝐂𝐎2 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐖𝐨𝐫𝐤𝐟𝐥𝐨𝐰 #𝐜𝐜𝐮𝐬 CO2 storage assessment and development consists of 5 different phases: 𝐒𝐜𝐫𝐞𝐞𝐧𝐢𝐧𝐠: The screening phase of the assessment and development process is designed to identify CO2 storage resources in a region (regional screening) and then eliminate sites, locations or resources that are unsuitable for further development (site screening) at that point in time. Resources are eliminated according to the criteria defined in the project management plan. 𝐒𝐢𝐭𝐞 𝐬𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧: Site selection is a continuation of the screening process. During this phase, sub-regions, also known as leads, within the portfolio are evaluated using the predefined assessment criteria and those that are not suitable are eliminated. Data gathered during the screening phase are analysed more thoroughly. 𝐈𝐧𝐢𝐭𝐢𝐚𝐥 𝐬𝐢𝐭𝐞 𝐜𝐡𝐚𝐫𝐚𝐜𝐭𝐞𝐫𝐢𝐬𝐚𝐭𝐢𝐨𝐧: consists of an in-depth site-specific technical and non-technical assessment performed using existing data. If a site fulfils the assessment criteria, it can progress to detailed characterisation. Progression is usually contingent on a site having reservoir characteristics that support CO2 storage, modelling that demonstrates a viable site, and up-to-date plans for public outreach, site development and site operations. 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐜𝐡𝐚𝐫𝐚𝐜𝐭𝐞𝐫𝐢𝐬𝐚𝐭𝐢𝐨𝐧: involves the acquisition of new, site-specific data and information through a dedicated exploration and appraisal programme. A detailed characterisation plan will be created for sites that advance into this phase to ensure that public outreach, data acquisition, reservoir modelling and site permitting are performed in a cost-effective and timely manner. Depending on the jurisdiction, certain exploration and appraisal activities may require a licence or permit, or equivalent. 𝐒𝐢𝐭𝐞 𝐝𝐞𝐬𝐢𝐠𝐧 𝐚𝐧𝐝 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Site design and development is a natural continuation of site characterisation. It is when a developer finalises site planning and design to prepare for FID. By the end of site development, a storage site will be approximately shovel-ready, if it is not found undevelopable during the phase. Photo and source: https://lnkd.in/dsXR6emF #ccs #ccus #hydrogen #energytransition #climatechange #carbon #carboncapture #carbonfootprint #cop27 #acorn #co2 #co2storage #sequestration   #simulation #spe #oilandgas #oilandgasindustry #oilgas #project #fdp #field #oilfield #Resrevoirs #Reservoir  #ReservoirEngineering #PetroleumEngineering #OilAndGas #ReservoirManagement #EnhancedOilRecovery #ReservoirSimulation #HydrocarbonProduction #WellTesting #DrillingEngineering #ProductionEngineering #ReservoirCharacterization #FieldDevelopment

📊🌍 I am thrilled to #announce the #launch of our latest #report, "Climate Impact Screening and Reporting: A Venture Capital Perspective," published by the Columbia Center on Sustainable Investment in collaboration with Princeville Capital. Co-authored by Ajay Jagdish, Perrine Toledano, and myself, this #comprehensive report delves into the #methodologies and practices that #venturecapital #investors can adopt to optimize their climate impact. Key highlights include: - Attribution of avoided #emissions - Setting transparent #baselines - Sectoral prioritization and threshold #criteria - Rigorous indirect #impact screening - Innovative approaches for #climate #adaptation #financing Our #goal is to provide venture capitalists with the #tools and insights needed to drive #impactful #climatesolutions, ensuring investments align with the #ParisAgreement objectives. The report emphasizes the #critical role of VCs in the transition to a low-carbon economy and highlights the importance of #meticulous climate due diligence. We extend our heartfelt thanks to Eric Kosmowski, Ugo Catry and Luca Harrichhausen at Princeville Capital for their support and trust all along the project. Special thanks also to Saurabh Kumar, Joseph Weiler, Wynston Reed, Morgan Sheil, and Anant Udpa for peer-review or in-depth conversations. 📥 Download the report here: https://lnkd.in/eqUFPqez #ClimateFinance #VentureCapital #SustainableInvestment #ClimateImpact #CCSI #PrincevilleCapital #ParisAgreement #ClimateChange

When we invest, with our angels, in a startup through COREangels Climate, our primary check categorically concerns the climate: the startup's impact on CO2 avoidance or removal. But why does this element often come before other essential due diligence aspects? Simply because it ensures that we focus our attention on solutions capable of having massive impacts on what is most endangering our existence, not just an impact today but also in the next 15-20-30 years, having from today a clear perspective on the climate impact that a specific solution in a given geography and industry can generate. To do this, we have developed an internal analysis model called Climate Impact Evaluation Tool©️, which is able to demonstrate the impact, in percentage terms, and in accordance with the startup's business plan and growth strategy, that the solution is capable of having: the Climate Impact ©️. But the real issue is why do we do all this? The answer, as always, is given by central governments. Our alignment of investment timelines and solutions closely follows the climate targets set by governments for 2030 and 2050. Behind our strategy, therefore, lies a much bigger goal. That of tracking solutions from today that can drastically accelerate the impact on the climate, to foster growing interest from companies and governments in these solutions, and this drastically facilitates the Exit element from the investment in these startups. And, with 2024 now on the horizon, the window of opportunity for these solutions is narrowing. Well, but we don't stop there; another element we analyze is the Climate Rate of Return©️ of the solution, that is, we identify the economic impact generated by the equity investment and the amount of CO2 that can be avoided, providing in this case an extremely relevant economic variable. These are the two parameters we try to emphasize most to identify solutions capable of generating an impact in terms of Gigatons of CO2. Do you know what the biggest problem we encounter when some startup presents itself to us? About 70% of the solutions that declare themselves climate tech have no idea how to calculate CO2 avoidance or removal, but above all, are not even minimally able to demonstrate and monitor the impact of the solution over time. This often happens with Italian companies, which are drastically trying to exploit the new climate tech trend to try to raise money from funds unaware of a strong strategy within the climate, openly declaring themselves climate, but without having the minimum impact on CO2. And this, in the coming years, will create many problems for these startups that will not be able to raise from other funds because they are absolutely not in line with the environmental and climate targets they claim to have. If you want to learn more, tomorrow with COREangels we are hosting a webinar and will talk about all these things. You will find the link in the first comment