{"id":140113,"date":"2024-03-05T07:29:00","date_gmt":"2024-03-05T06:29:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=140113"},"modified":"2024-03-04T13:51:37","modified_gmt":"2024-03-04T12:51:37","slug":"commission-sets-out-how-to-sustainably-capture-store-and-use-carbon-to-reach-climate-neutrality-by-2050","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/commission-sets-out-how-to-sustainably-capture-store-and-use-carbon-to-reach-climate-neutrality-by-2050\/","title":{"rendered":"Commission sets out how to sustainably capture, store and use carbon to reach climate neutrality by 2050"},"content":{"rendered":"\n\n\n

The European Union is committed to reaching \u2018net zero’ CO2<\/sub>\u00a0emissions by 2050. While the major part of this effort will come from reducing current emissions levels in the coming years, we will also need technologies that can capture CO2\u00a0<\/sub>or remove it directly from the atmosphere and then store or utilise it. These technologies will focus on sectors where emissions are particularly difficult or costly to reduce, such as the process emissions in cement or waste-to-energy for example. The Commission has therefore adopted today an\u00a0Industrial Carbon Management Communication<\/a>, which provides details on how these technologies could contribute to reducing emissions by 90% by 2040 and reaching climate neutrality by 2050.<\/strong><\/p>\n\n\n\n

In the Net-Zero Industry Act<\/a>, the Commission has proposed that the EU develops at least 50 million tonnes per year of CO2 <\/strong><\/sub>storage capacity by 2030.  Based on the impact assessment on the EU recommended climate target for 2040<\/a>, this figure will need to grow to around 280 million tonnes by 2040. The Communication on Industrial Carbon Management sets out a comprehensive policy approach to deliver on these targets.<\/p>\n\n\n\n

A European approach to industrial carbon management<\/strong><\/h3>\n\n\n\n

Today’s Communication identifies a set of actions to be taken at EU and national level to enable the deployment of these technologies and the necessary infrastructure to establish a single market for CO2<\/sub> in Europe<\/strong> in the decades ahead. The Commission will start <\/em>preparatory work on a possible future CO2 transport and storage regulatory package<\/strong>, which would consider issues such as market and cost structure, third-party access, CO2 <\/sub>quality standards or investment incentives for new infrastructure. The Commission’s Joint Research Centre (JRC) has published today a report<\/a> on the future CO2<\/sub> transport network for Europe and related investment needs.<\/p>\n\n\n\n

The Commission will also assess the volumes of <\/strong>CO2<\/sub><\/strong> <\/sub>that need to be removed directly from the atmosphere (industrial carbon removals)<\/strong> to meet the EU’s emissions reduction ambitions for 2040 and 2050 and assess overall objectives and policy measures to achieve them. This will include an assessment of how removals and permanent storage could be accounted for under the EU Emissions Trading System (ETS).<\/p>\n\n\n\n

To help scale up the market for<\/strong> capture and permanent storage of CO2<\/sub> emissions<\/strong>, the Commission will establish guidance for project permitting processes and set up an atlas of potential storage sites. In cooperation with the Member States, the Commission will also develop an aggregation tool for matching CO2<\/sub> suppliers with transport and storage operators and CO2 <\/sub>off-takers. The Commission aims to establish a clear carbon accounting framework for utilisation of captured CO2<\/sub> as a resource<\/strong>, which would reflect the climate benefits of using CO2<\/sub> as a resource in industrial processes. This will help boost the uptake of sustainable carbon in industrial sectors.<\/p>\n\n\n\n

Establishing an enabling business environment for a CO2<\/sub> value chain in the EU<\/strong><\/h3>\n\n\n\n

To make industrial carbon management projects happen on the ground, the Commission is setting out today a series of horizontal actions which could create a more attractive environment for investments.<\/p>\n\n\n\n