Contribute to the preparation of EURACTIV reports.
Help us continue to provide loose, independent data from European capitals
Food
Digital
Economy and employment
Energy and the environment
Global Europe
health care
Diplomatic
Transporting
Shell Quest’s Canadian facility has safely captured and stored five million tons of carbon since 2015, to annual emissions of approximately 1. 25 million vehicles. [Alberta Newsroom / Flickr]
With increased investments in carbon capture and garage (CAC) projects and the eu’s desire to reduce its carbon emissions, optimism in systems is growing, Guloren Turan writes.
Guloren Turan is the Director General of Promotion and Communications at the Global CCS Institute, a foreign tank whose project is to drive the deployment of carbon capture and garage (CCS) technology.
In order to achieve the catastrophic effects of climate change, we want to halve global emissions over the next decade and achieve net zero emissions until the middle of the century; this is in accordance with the Intergovernmental Panel on Climate Change and the “well below 2 degrees” situation ratified in the Paris Agreement.
The consequences of climate replacement are similar to the accumulated greenhouse gases released into the atmosphere, which means that every year we take critical action to achieve 0 net emissions, the severity of our challenge will continue to grow, and rapidly.
In order to achieve net targets 0, through definition, emissions that have not been reduced must be balanced by their elimination from the atmosphere.
Climate change-conscious governments have already begun to use the cutting-edge generation that does just that: this generation is called carbon capture and storage (CAC).
From Norway to the United States and Japan, CCS has the best-kept secret in the fight against climate change.
Not only does it generate emissions from high-energy sectors, such as oil and gas, power plants, and hydrogen production, but it does so by extracting CO2 from the environment and safely stocking it underground.
The CCS has already been modernized in steel, electricity, hydrogen and other commercial facilities. In Europe alone, garage capacity is estimated at around three hundred Gt, more than 220 Gt of CO2 to be captured and stored worldwide until 2070, according to the EEA.
However, the expansion of these systems and the number of services from approximately 20 in service by 2000 international until 2050 will require a significant deployment of infrastructure, human capital and monetary capital.
So what does it take to drive CCS deployment and make sure it can contribute as needed to achieve net target 0?
Over the next 10 years, political actions, as well as investments in infrastructure and innovation, will determine whether net 0 will be imaginable in our lives.
To achieve this, government supportive action over this decade will be crucial. The 3 high-level priorities needed to drive CCS progress over the next decade are:
Fortunately, Europe has made great progress in achieving these 3 political priorities over the next year.
In addition to increasing the carbon value of the EU Emissions Trading System, the European Commission submitted the first call for the 10 billion euro Innovation Fund in July, which has since won 311 applications. Array totaling 14 CCS projects.
In the Netherlands, the SDE subsidy formula will inspire the expansion of CCS’s trade comforts by paying the difference between the capture, transport, garage and carbon value charges of the EU Emissions Trading Scheme over a 15-year era, with the first call. expected November.
These mechanisms will generate sources of revenue for CCS projects and assistance will justify investment.
At the same time, the Norwegian government announced in September that it was in a position to finance approximately two-thirds (16. 8 billion kronor) of the Longship CCS project.
Once launched, Longship will capture and purchase emissions from waste energy recovery plants and cement plants in Norway, and from European industry in later stages.
A few weeks after Norway’s announcement, Porthos’ allocation in the port of Rotterdam gained 102 million euros in investment from the Interconnection Mechanism in Europe.
With significant government and investment, Longship and Porthos are expanding to provide key shipping and garage infrastructure facilities to several issuers across Europe.
On the other channel, the UK government announced a net zero transition plan of 10 points in early November, which includes the CCS as one of its main pillars.
The announcement included a billion-pound investment for CCS infrastructure, with the goal of creating 4 centers and clusters and storing 10 million tons of CO2 consistently with the year through 2030, the first quantitative ambition for a CO2 garage worldwide.
A vital regulatory step achieved in 2019 through an agreement on the so-called London Protocol to enable a transitority solution to enable cross-border transport of CO2.
Despite this, the official ratification of the pending and remains unresolved.
In addition, the EU Emissions Trading Scheme does not officially take into account the shipment of CO2 by boat; however, it is understood that the correspondence between the EU Directorate-General for Climate Action and the Norwegian Ministry has been positioned in recent months to allow the shipment of CO2 through ships or trucks under express conditions, the thus increasing the regulatory obstacle.
As European leaders prepare to agree in December on the very important 2030 target to reach 0 net until the middle of the century, it turns out that the stars of the CCS are even though everything is beginning to align in Europe.
Guloren Turan contributed to this editorial before one occasion to publish the new report of the Global CCS Institute in December.
Do you like EURACTIV reports? We want your support, expensive reader,
More than ever, we want independent and qualified data on the functioning and reasons of the European Union. This data deserves not to be through a paywall and we remain committed to delivering our content for free.
We know that our readers appreciate our reports, and the great amount of help we have gained since the beginning of the crisis shows that our readers are in a position to take a step forward in journalism that they accept as true and appreciate. We are seeing a record interest in our journalism, as the perspectives of our pages have tripled. At the same time, helping readers in the form of recurring monthly monetary contributions provides uninterrupted help to our work, allowing us to innovate.
We are more than ever in our role as a bridge between the media, politicians and the public, and we thank them for their support.
Your recurring monthly monetary contributions help us innovate for the future. Make a recurring contribution to EURACTIV Media Network for Europe.
Do you like our reports? We love you!
Your money is helping to build the long term of our publishing network across Europe.