LAPSE:2024.1616
Published Article

LAPSE:2024.1616
Deciphering the Policy-Technology Nexus: Enabling Effective and Transparent Carbon Capture Utilization and Storage Supply Chains
August 16, 2024. Originally submitted on July 9, 2024
In response to the global imperative to address climate change, this research focuses on enhancing the transparency and efficiency of the Carbon Capture Utilization and Storage (CCUS) supply chain under carbon tax. We propose a decision-making framework that integrates the CCUS supply chain's optimization model, emphasizing carbon tax policies, with a blockchain network. Smart contracts play a pivotal role in automating the exchange and utilization of carbon emissions, enhancing the digitalization of the CCUS supply chain from source to sink. This automation facilitates seamless matching of carbon sources with sinks, efficient transfer of emissions and funds besides record-keeping of transactions. Consequently, it improves the monitoring, reporting, and verification processes within the CCUS framework, thereby simplifying compliance with regulatory mandates for net emission reductions and carbon taxation policies. By eliminating reliance on third-party verifiers, our blockchain-based CCUS system reduces verification costs and ensures reliable tracking of emissions, mitigating the risk of carbon leakage. Policymakers and stakeholders gain valuable insights to optimize the CCUS network design, specifically considering the impact of carbon tax. This study represents an advancement in sustainable practices, providing a robust tool for decision-makers engaged in climate change mitigation efforts.
Record ID
Keywords
Blockchain, Carbon Capture, Carbon Capture Utilization and Storage CCUS, Carbon Dioxide, Carbon Dioxide Sequestration, Carbon Reduction Policies, Carbon Tax, digitalization, Optimization, Supply Chain
Subject
Suggested Citation
Oqbi MY, Al-Mohannadi DM. Deciphering the Policy-Technology Nexus: Enabling Effective and Transparent Carbon Capture Utilization and Storage Supply Chains. Systems and Control Transactions 3:844-852 (2024) https://doi.org/10.69997/sct.185903
Author Affiliations
Oqbi MY: Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA
Al-Mohannadi DM: Department of Chemical Engineering, Texas A&M University at Qatar, P.O Box 23874, Education City, Doha, Qatar
Al-Mohannadi DM: Department of Chemical Engineering, Texas A&M University at Qatar, P.O Box 23874, Education City, Doha, Qatar
Journal Name
Systems and Control Transactions
Volume
3
First Page
844
Last Page
852
Year
2024
Publication Date
2024-07-10
Version Comments
DOI Assigned
Other Meta
PII: 0844-0852-676313-SCT-3-2024, Publication Type: Journal Article
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LAPSE:2024.1616
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https://doi.org/10.69997/sct.185903
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