Carbon Capture and Storage: Seeking a Bankable Business Model

Deloitte analysis of the investment case for CCS, examining the conditions under which the technology becomes bankable for private investors and the hurdles that must be cleared before infrastructure funds and commercial banks will deploy capital at scale. The paper finds that only the UK has so far implemented a genuinely investable CCS business model — built around cluster development and the regulated asset base framework that provides revenue certainty for transport and storage operators. The analysis is most useful as a diagnosis of why CCS project finance has stalled almost everywhere else in Europe: the commercial frameworks are incomplete, the risk allocation is unresolved, and emitters are not yet confident enough in long-term pricing to commit.