Understanding Potential GS Risk: A Multi-Disciplinary Framework to Foster Responsible Stewardship

AbstractGeologic sequestration (GS) holds promise as a safe and effective approach for addressing climate change. However, concern about potential “liability” associated with GS often is cited as a significant barrier to project deployment. However, the authors contend that the term “liability” is poorly defined and conflates concerns about the uncertainty in the timing and magnitude of potential damages with the call for long-term stewardship of certified closed sites. This paper offers an analytic framework predicated on the use of risk-based probabilistic modeling to assist stakeholders in evaluating the potential environmental, human health and financial consequences of GS projects. Use of this framework will inform siting decisions for specific GS projects and provide maximum loss values and probabilistic estimates of expected loss values that can inform policy discussions addressing the “liability” issue