To reach the EU's climate targets, increase industrial competitiveness, and improve its energy resilience, carbon capture and storage technologies play an important role.
As part of its decarbonisation efforts, in 2023 the European Commission released a Net-Zero Industry Act for a simplified regulatory environment and a rapid deployment of carbon solutions.
The Act aims at promoting investments in the production capacity of products that are key in meeting the EU’s climate neutrality goals. To facilitate and enable carbon capture and storage projects and increase the availability of CO2 storage sites, the Act sets a target of 50 million tonnes of annual CO2 storage capacity by 2030.
In addition to this, the adoption of the Industrial carbon management strategy by the European Commission should help identify the gaps to deploy these systems at scale.
Industry stakeholders argue that while the EU has set ambitious objectives, the deficiency in transport and storage infrastructure remains an issue in the absence of substantial policy support. Hard-to-abate industries such as cement, steel, chemicals, are in particular need of additional technology options as they chart their transition and make investment decisions.
Join this Euractiv Virtual Conference to discuss where we stand on the road to reaching the target of 50 million tonnes of CO2 stored by 2030. Questions to be addressed include:
- Is the Communication on industrial carbon management enough to raise awareness about the role of CCS?
- How challenging is the business case for building a better transport and storage infrastructure?
- What kind of policy support would be needed for appropriate transport and storage infrastructure to be put in place?