In response to rising carbon prices and binding net zero targets, more and more polluting industries in Europe have announced their intention to capture their CO2 emissions for permanent geological storage. The CATF project map indicates around 50 such initiatives across diverse sectors and geographies, amounting to over 80 Mt captured per year by 2030. But will there be enough storage space to accommodate all this CO2?
Carbon capture and storage will not need public support indefinitely, as higher carbon prices and demand for low-carbon products emerge and technology costs are driven down. But strong investment is now essential to help cover first-mover costs and establish shared infrastructure for CO2 transport and storage.
Clean Air Task Force has identified the need for Germany to develop carbon management technologies if it wishes to reach its legally-binding target of climate neutrality by 2045. In recent months, four comprehensive studies have been completed by Ariadne, Agora Energiewende, Deutsche Energie-Agentur (Dena) and the Bundesverband der Deutschen Industrie…
The Infrastructure Investments and Jobs Act (IIJA), signed into law on November 15, contains the largest single investment in carbon management provisions since the Department of Energy (DOE) began funding carbon capture research in 1997.