Despite the adoption of sustainable energy sources and energy-efficient systems, the need to reduce CO2 emission becomes quintessential to limit the detrimental impact of climate change. According to Intergovernmental Panel on Climate Change (IPCC), it is almost impossible to meet Paris Agreement goals without implementing Carbon Capture, Utilization, and Storage (CCUS) technologies. To achieve the 2 degree goals, large-scale adoption of CCUS is required, which is the most essential component of decarbonization. In absence of it, the cost of climate mitigation efforts can be ~140% more expensive. Developing a robust CCUS strategy, both, at a national and regional level is not possible without an appropriate carbon pricing regime. both, at a national and regional level is not possible without an appropriate carbon pricing regime.