EU launches tool to meet its newly set carbon capture targets
The European Commission has outlined a strategy for ambitious industrial carbon management, emphasizing the need for collaboration between the Commission and Member States to incentivize the deployment of ICM technologies and infrastructure. The EU’s climate targets include capturing at least 50 million tonnes of CO2 per year by 2030, 280 Mtpa by 2040, and up to 450 Mtpa by 2050.
To support these goals, there has been substantial momentum in investment for CCUS research and deployment. Since 2018, the European Climate, Infrastructure and Environment Executive Agency (CINEA) has managed 84 projects with a total EU contribution of EUR 2.3 billion.
These projects, funded by programs such as the Connecting Europe Facility for Energy, the Innovation Fund, and Horizon Europe (Climate and Energy), involve 534 beneficiaries from 42 countries across the CCUS value chain.
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