To achieve the goal of the Paris Agreement of pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels, countries must severely reduce their emissions and reach a net zero economy by 2050. In this framework, carbon capture, utilisation, and storage (CCUS) technology is necessary to achieve ambitious climate targets. However, its deployment is still way below the needed levels.

This event aimed at exploring:

• The CCS provisions in the Net-Zero Industry Act;
• The elements that ought to be included in the upcoming Commission’s strategy on CCUS.

In the EU, interest in CCUS is growing. In particular, 2023 seems to be an important year: the Net-Zero Industry Act introduces a provision for an injection target capacity while preparing for issuing a Communication on a CCUS strategy. Internationally, CCUS is also increasingly capturing the attention of policymakers. Nevertheless, the EU is still far away from achieving the level of deployment of CCUS technology that is required for achieving its climate targets and climate neutrality. There are still a lot of unknowns and elements that need to fall in place.

Agenda    ERCST Slides