EU plans strategy to scale up investment in capturing CO2 emissions

10/6/2023 7:06

        The European Commission is working on plans to speed up investment in capturing and storing carbon dioxide emissions, it said on Friday, as the bloc prepares to slash its net greenhouse gas emissions to zero by 2050.
        
        In a public consultation on the plans, the Commission said infrastructure to capture and store CO2 underground or use it in industries was not developing fast enough, hampered by factors including high costs to develop storage sites.
        
        To try and boost the industry, the Commission said it will produce an EU strategy that could include 2040 and 2050 targets for CO2 storage infrastructure, or EU-wide standards on CO2 quality and access to carbon capture infrastructure.
        
        Carbon capture and storage (CCS) projects are in their infancy in the EU and have a history of controversy in countries including Germany, where states blocked past efforts to launch projects. Some campaign groups have also opposed the technology on the grounds that it could be used to extend the life of coal power plants and polluting industries.